Wealthsimple is a Canadian investing and money app regulated by CIRO, aimed at simple, low-cost investing and saving. Its standout promotion is a 1% cash match on investment-account transfers of at least $25,000, paid out in monthly installments over two years. It also runs a $25 referral bonus and a recurring Monthly Millionaire prize draw, where funding a chequing account earns sweepstakes entries rather than guaranteed cash.
Risk warning: Trading carries a high risk of losing money, especially with leveraged products such as CFDs. A bonus does not reduce that risk. Only deposit what you can afford to lose.
Wealthsimple
A monthly Wealthsimple sweepstakes where funding a chequing account earns draw entries for weekly cash prizes of $25,000 to $100,000 and a $1,000,000 grand prize, with realistic odds that are extremely long.
Wealthsimple
Wealthsimple pays a 1% cash match on at least $25,000 of investment account transfers, deposited as 24 monthly installments to your chequing account.
Wealthsimple
Refer a friend to Wealthsimple and you both get $25 CAD once they open a new account and deposit at least $100 within 30 days.
Profile checked against official sources on · How we rate
Wealthsimple launched in Toronto in 2014 and has grown into one of Canada's largest digital investing platforms. Wealthsimple Investments Inc. is regulated by CIRO (Canadian Investment Regulatory Organization) as an investment dealer across all Canadian provinces and territories, and client accounts are covered by the Canadian Investor Protection Fund (CIPF) up to $1,000,000 per account category if the firm fails. Cash held in a Wealthsimple Cash account is separately CDIC-insured up to $100,000 per depositor category.
As of March 2026, Wealthsimple reported roughly $125 billion CAD in assets under administration and a client base above 3 million Canadians. The company is majority owned by Power Corporation of Canada and raised a $750 million CAD round in October 2025 at a $10 billion CAD valuation. Wealthsimple only serves Canadian residents; there is no US, UK or other international version of the platform.
The core self-directed product is Wealthsimple Trade, which charges $0 commission on Canadian and US stock and ETF trades. Currency conversion between CAD and USD costs 1.5% on a standard CAD account, a cost that drops with a USD account. Wealthsimple also runs a managed investing (robo-advisor) service with tiered annual fees from about 0.5% down to 0.2% to 0.4% for larger balances, and a crypto trading product.
Registered accounts include the TFSA, RRSP, RESP and FHSA, alongside non-registered accounts. Wealthsimple Cash, the chequing-style account, pays tiered interest depending on membership level and is where most of Wealthsimple's cash bonuses and prize payouts land.
Wealthsimple's main acquisition offer is a 1% match on account transfers: move at least $25,000 CAD into a Trade, Managed Investing or Crypto account from an outside institution and Wealthsimple pays 1% of the net transferred amount as cash, split into 24 equal monthly payments to a Wealthsimple chequing account. A $25,000 transfer works out to about $250 spread over two years, not a lump sum. The advertised up-to-$20,000 ceiling only applies at a $2,000,000 transfer. Only institution-to-institution transfers count; cash deposits are excluded.
The standing referral program pays $25 CAD to both the referrer and the new client once the referred person opens an account and deposits at least $100 within 30 days. Wealthsimple markets tiers up to $2,000, but that top figure needs a $1,000,000 deposit from the referee, so $25 is the outcome for nearly everyone. There is also a recurring Monthly Millionaire sweepstakes: funding a Wealthsimple Cash account earns draw entries feeding weekly prizes and a $1,000,000 monthly grand prize. This is a free lottery-style contest, not a guaranteed bonus.
The 1% match comes with a 730-day hold. After the transfer settles, withdrawing more than 20% of the net funded amount reduces future monthly payments proportionally, though installments already paid are kept. The referral bonus has a shorter 180-day hold on the referee's qualifying deposit; pulling the deposit below the $100 threshold in that window can claw back both people's $25. Both offers require registering before you fund or transfer, not after.
All the promotions are restricted to Canadian residents at the age of majority in their province, and the referral and 1% match both require a Wealthsimple chequing account to receive payment. The Monthly Millionaire contest is open to residents of every province, and winners must correctly answer a skill-testing question before a prize is released, standard practice under Canadian sweepstakes law.
Wealthsimple does not typically issue a tax slip for small referral or match payments into non-registered accounts, but that does not make the money tax-free. Cash bonuses and contest winnings are generally the account holder's responsibility to report to the CRA if applicable; anyone earning a meaningful amount through repeated referrals or a large transfer match should check with a tax professional.
The most common way people miss out on these offers is timing: registering for the 1% match after starting a transfer, or having a referred friend deposit less than $100 or withdraw before the 180-day mark. Because eligibility is Canada-only and tied to a Wealthsimple chequing account, none of these offers work for non-residents or account holders who never open the Cash product.
Yes. Wealthsimple Investments Inc. is regulated by CIRO as an investment dealer in every Canadian province and territory, and client accounts are covered by CIPF up to $1,000,000 per account category if the firm becomes insolvent. Cash in a Wealthsimple Cash account is separately CDIC-insured up to $100,000.
It depends on how much you transfer in from another institution. A $25,000 transfer, the minimum to qualify, earns about $250 paid out as 24 monthly installments over two years. The advertised $20,000 maximum only applies to a $2,000,000 transfer.
Only at the top tier, which requires the person you refer to deposit $1,000,000 or more. The base tier, and the realistic outcome for almost everyone, is $25 for both the referrer and the new client once the referee deposits at least $100 within 30 days.
Yes, under specific conditions. The referral bonus can be clawed back if the referred account's net deposits drop below the $100 qualifying amount within 180 days. The 1% match reduces future unpaid installments if you withdraw more than 20% of the net transferred amount within 730 days, though installments already paid are not taken back.
No. Wealthsimple only serves Canadian residents, and all of its current promotions, including the 1% match, the referral bonus and the Monthly Millionaire contest, are restricted to Canadian residents at the age of majority in their province.
Wealthsimple generally does not send a tax slip for small referral or match payments into a non-registered account, but that does not make the payment tax-free. It is treated as income and is the account holder's responsibility to report to the CRA if applicable, so anyone earning a large amount should check with a tax professional.