Wealthsimple's current referral offer is refreshingly simple: $25 just for opening an account and depositing $100, plus a 1% cash match if you transfer in an existing RRSP or TFSA. Here's exactly how to claim both, what they're really worth, how Wealthsimple stacks up against other Canadian brokers, and what to watch for before you move your money. Open an account, deposit $100, get $25. Transfer in an RRSP or TFSA, get a 1% match too. Here's exactly how to claim both, and what to watch for.
A $25 bonus on a $100 deposit works out to a 25% instant return before you've invested a cent. The 1% transfer match is separate and scales with the account size you move: on a $20,000 TFSA transfer, that's $200.
Already have a Wealthsimple account? If it's new and you haven't funded it yet, you can usually still add a referral code before that first deposit, with no strict deadline. If you've already deposited, Wealthsimple has generally allowed about a week after that first deposit to add a code retroactively. Past that window it's typically too late, so if you're close to it, contact Wealthsimple support directly rather than assuming either way.
| Wealthsimple | |
|---|---|
| Stock & ETF trades (CAD) | $0 commission |
| US stock/ETF currency conversion | ~1.5% FX spread without a USD account |
| TFSA / RRSP / FHSA account fees | $0 to open or hold |
| XEQT (all-equity ETF) management fee | ~0.20% MER, charged by the ETF itself |
| Managed portfolio fee | ~0.40–0.50% depending on balance |
| Account transfer-out fee (if you ever leave) | Charged by Wealthsimple; some competitors reimburse this on the way in |
If you're searching for the XEQT management fee specifically: it's an ETF-level cost set by the fund provider (about 0.20% a year), not something Wealthsimple adds on top. Buying and holding XEQT yourself through self-directed trading still costs $0 in commissions.
| Broker | Stock/ETF trades | Account fees | Sign-up bonus |
|---|---|---|---|
| Wealthsimple | $0 | $0 | Yes, this page |
| Questrade | $0 ETF buys, ~$4.95–9.95 stock trades | $0 with minimum balance | Often, varies |
| Qtrade | ~$8.75/trade | $0 with minimum balance | Occasional |
| TD Direct Investing | ~$9.99/trade | Possible inactivity fee | Rare, bank-tied |
Broker pricing changes without much notice, so treat this as a starting point and confirm current rates directly with each provider before deciding.
Investment accounts are covered by the Canadian Investor Protection Fund (CIPF) up to $1 million CAD per category if the firm itself fails. That protects against the brokerage going under, not against your investments losing value in a normal market decline. Cash held in Wealthsimple Cash is eligible for CDIC deposit insurance through partner banks, the same protection structure used by Canada's major bank-owned brokerages.
For most people opening a first TFSA or RRSP, yes. The $25 is close to free money for something you'd likely do anyway, and $0 commissions mean the account costs nothing to hold. The transfer match is the bigger number for anyone with an existing account elsewhere: it scales with balance, so it's worth checking even if the $25 alone doesn't move the needle for you.
Finance Simulator's Invest tab projects TFSA, RRSP and FHSA growth on your real numbers, shows your contribution room, and estimates take-home pay by province. Free, no account, nothing sent to a server.
3JNWOG. It attaches automatically to any account opened through a referral link such as wealthsimple.com/invite/3JNWOG, so there's no field to type it into during sign-up. Deposit at least $100 within 30 days of using it to unlock the $25 bonus.
A $25 cash bonus for opening a new account and depositing at least $100 within 30 days, credited directly to your account. This is a referral bonus and is separate from any promotion Wealthsimple runs itself.
You don't type one in. Following a referral link like wealthsimple.com/invite/3JNWOG attaches the code automatically to the account you create.
Sometimes. If the account is new and unfunded, you can generally add a referral code any time before that first deposit. If you've already deposited, there's historically been a short grace window of about a week after that first deposit to apply one retroactively. This isn't guaranteed to stay the same, so if you're inside that window, confirm directly with Wealthsimple support rather than assuming.
A percentage bonus, currently 1%, on the balance of an RRSP, TFSA, or other registered account you move over from another institution, paid on top of the sign-up bonus. Wealthsimple also covers transfer-out fees from your old institution up to a limit; check the current in-app terms before initiating a transfer, since these details change periodically.
Generally yes. The $25 referral bonus and the transfer match reward different actions (a first deposit vs. moving an existing account), so both can apply to the same new account. Seasonal promotions Wealthsimple runs itself have their own separate terms, so check the current in-app offer before assuming a stack applies.
New money moved in directly: an Interac e-Transfer, bill payment, or linked bank transfer. Moving an existing registered account over counts as a transfer, not a deposit, and triggers the separate transfer match instead.
Investment accounts are CIPF-protected up to $1 million CAD per category against firm insolvency; cash balances are CDIC-eligible through a partner bank. Neither protects against normal market losses.
$0 commission on Canadian-dollar stock and ETF trades. Buying US-listed securities without a USD account adds a roughly 1.5% currency conversion spread. ETFs like XEQT carry their own management fee (~0.20%) set by the fund provider, separate from Wealthsimple's own pricing.
Bonus amounts, transfer-match percentages, and fees reflect Wealthsimple's publicly posted terms as of August 2026 and are subject to change without notice, so confirm current terms on Wealthsimple's site before acting. This page is educational and is not financial, tax, or legal advice. See the terms of use.