Wealthsimple's current referral offer is refreshingly simple: $25 just for opening an account and depositing $100, plus a 1% match if you transfer in $25,000 or more from another institution. 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 $25,000 or more, 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 only starts at $25,000: moving a $30,000 TFSA would earn $300, paid as $12.50 a month over 24 months.
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 | 0.17% management fee (0.19% MER), charged by the ETF itself |
| Managed portfolio fee | ~0.40–0.50% depending on balance |
| Account transfer-out fee (if you ever leave) | $0: Wealthsimple doesn't charge to transfer out |
If you're searching for the XEQT management fee specifically: it's an ETF-level cost set by the fund provider (0.17% a year, or 0.19% all-in as the MER), 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 (since Feb 2025) | $0 | Often, varies |
| Qtrade | $0 | $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 moving $25,000 or more from 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 1% match on investments you move to Wealthsimple from another Canadian institution, such as an RRSP or TFSA, if the transfer totals $25,000 or more. It is paid in monthly instalments over 24 months into a Wealthsimple Chequing account, and withdrawing the money early reduces the remaining payments. Wealthsimple reimburses the transfer-out fee your old institution charges when you move $25,000 or more. These are the terms as of September 2026; check the current terms before you transfer.
Generally yes. The $25 referral bonus and the transfer match reward different actions (a first deposit vs. moving $25,000 or more from another institution), 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 counts toward the separate transfer match instead, which needs $25,000 or more.
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 (0.17% for XEQT) 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 September 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.