Wealthsimple is Canada’s largest online brokerage, offering commission-free trading, automated investing, crypto, and high-interest banking—all in one app. This guide explains how the platform works, what products are available, and how the referral bonus program operates.

Looking for a referral code? 9C6DMQ Get $25 →

Promo vs Referral: Which is better? →
Forgot your code? Add it after signup →
Referral Ladder: Earn up to $5,000 →
Platform overview (continue reading below)

What Is the Current Wealthsimple Referral Code (February 2026)?

The current working Wealthsimple referral code is 9C6DMQ. When you use this code:

You get: $25 cash bonus
Minimum deposit: Just $1
Bonus timing: Within 24 hours of your qualifying deposit

Searching for a Wealthsimple referral code with no deposit required? The $1 minimum is as close as it gets—essentially free money for pocket change. For the full breakdown of how the code works, eligibility rules, and common questions, see our dedicated Wealthsimple Referral Code guide.

Personal note: I opened my Wealthsimple account in late 2022 and it’s now my primary platform for everyday trading and my RRSP. The referral bonus was my first interaction with Wealthsimple—and years later, I’m still here.

How the Wealthsimple Referral Program Works

The Wealthsimple referral program gives you a $25 cash bonus when you open a new account and deposit at least $1. I’ve tested quite a few Canadian fintech referral programs over the years, and this one is genuinely one of the most straightforward. Here’s how the whole thing works:

When you click a referral link (like the one above), you’re automatically connected to the referrer. No need to manually enter anything.

Step 2: Fund Your Account with $1+

You only need to deposit $1 or more within 30 days of opening your account.¹ This can go into any eligible account:

Self-directed Trading
Managed Investing (Robo-advisor)
Crypto
Chequing account

Step 3: Receive Your $25 Bonus

Here’s the nice part—your cash bonus typically shows up in your Wealthsimple Chequing account within 24 hours. Most people get it the same day. Some within a few hours. Seriously. When I first signed up, my bonus landed in about three hours—I was honestly surprised at how fast it was.

The Referral Ladder: Referrers Can Earn Up to $5,000

The Referral Ladder Challenge allows referrers to earn up to $5,000 based on the net deposits of their referred friends.

Here’s the full breakdown of what referrers earn:

Friend’s Deposit Amount	Your Bonus (as Referrer)
$1 – $999	$25
$1,000 – $9,999	$50
$10,000 – $49,999	$100
$50,000 – $99,999	$200
$100,000 – $499,999	$500
$500,000 – $999,999	$1,500
$1,000,000+	$5,000

Timing note: The base $25 bonus typically arrives within 24 hours. For additional ladder bonuses ($50+), it can take up to 14 business days after the end of the 30-day funding period.

If you already have a Wealthsimple account and refer someone who’s moving a decent-sized portfolio, this ladder can mean serious bonus cash.

Transferring From a Big Bank? What You Need to Know

Wealthsimple will reimburse your transfer fees (typically $135–$150 + tax) if you move at least $25,000 from another institution. Many Canadians are transferring from TD, RBC, BMO, Scotiabank, or CIBC — here’s what to expect:

Transfer Fee Reimbursement

Most banks charge $135-$150 + tax to transfer out. Wealthsimple reimburses this fee if:

You transfer $25,000 or more (increased from $15,000 as of April 10, 2025)²
The transfer completes successfully
You keep funds in Wealthsimple for 90 days

Tip: If you’re transferring multiple accounts that individually fall below $25,000 but together exceed it (say, a $10K TFSA and a $15K RRSP), the automatic reimbursement system may miss you. Contact Wealthsimple support via chat once the transfers land to request reimbursement manually.

Note: If you saw Reddit posts or older articles mentioning a $15,000 minimum, that policy changed in April 2025. Transfers initiated on or after April 10, 2025 require a $25,000 minimum for fee reimbursement.

Bank-Specific Tips

TD Bank: Keep $160+ cash in your TD account to cover the transfer fee. TD won’t process the transfer if you don’t have enough cash to pay their fee.

BMO with Mutual Funds: BMO’s proprietary mutual funds can’t transfer “in-kind” to Wealthsimple. They’ll need to be sold first, which could create a tax event in non-registered accounts.

FHSA Transfers: Wealthsimple currently cannot accept in-kind FHSA transfers from most institutions. You’ll typically need to sell your holdings to cash at your old bank before initiating the transfer.

RBC/Scotiabank/CIBC: Generally straightforward. Expect 2-4 weeks for the full transfer process.

The 90-Day Extended Window

For institutional transfers (RRSP, TFSA, LIRA, etc.), Wealthsimple gives you a 90-day window instead of 30 days to complete the transfer and qualify for the referral ladder. This acknowledges the reality that bank transfers can be slow.

Can Existing Clients Add a Referral Code?

Yes — you have a 7-day window after your first deposit to add a referral code retroactively.³ If you haven’t funded your account yet, you can add one at any time.

If You Haven’t Funded Your Account Yet

Good news! You can still add a referral code at any time before making your first deposit. Here’s how:

Open the Wealthsimple app
Tap the Gift icon at the top of the screen
Go to the “Referrals” tab
Select “I was referred by someone”
Enter the code: 9C6DMQ

If You’ve Already Funded Your Account

You have a 7-day window after your first deposit to add a referral code retroactively.³ After 7 days, the option disappears from the app entirely.

To add the code during this window:

Open the Wealthsimple app
Navigate to Settings > Earn Rewards > Add a referral code
Enter: 9C6DMQ

Important: After 7 days, the system will reject any referral code attempts. This is a strict policy, and even customer support typically cannot override it.

What Are the Referral Bonus Terms and Conditions?

To qualify for the bonus, you must be a new client who funds their account with at least $1 within 30 days.

Eligibility Requirements

Must be a new Wealthsimple client (never opened any account before)
Must be a Canadian resident of legal age in your province
Must fund your account with at least $1 within 30 days

Bonus Details

Bonus is paid in cash, not stock or crypto
Deposited to your Wealthsimple Chequing account
Must be held for 180 days or it may be clawed back from withdrawals⁴

Tax Implications

Wealthsimple does not issue tax slips for referral bonuses
You may be responsible for reporting the income depending on your tax situation

What Is Wealthsimple? Quick Platform Overview

Wealthsimple offers commission-free trading, automated investing, crypto, and banking — all in a single app. Here’s a quick breakdown of each product:

Wealthsimple Trade (Self-Directed Investing)

$0 commission on Canadian and US stocks⁵
Trade stocks, ETFs, options, and crypto in one app (note: crypto has a 1.5–2% spread — more than dedicated exchanges like Newton)
Fractional shares available
Extended hours trading

Wealthsimple Managed Investing (Robo-Advisor)

Automated portfolio management
Tax-loss harvesting
Socially responsible and Halal portfolio options
0.4-0.5% management fee

Wealthsimple Cash (Banking)

High-interest chequing account (1.25%-2.25%)
Prepaid Mastercard with no FX fees
CDIC coverage up to $1 million⁶
ATM fee reimbursement (up to $5, Canada confirmed)

Wealthsimple Tax (Free Tax Filing)

Pay-what-you-want pricing
Auto-import from Wealthsimple accounts
Cryptocurrency ACB calculation

The $25 sign up bonus applies to any of these account types—so if you’re only interested in banking or tax filing, you can still claim your bonus.

Why Canadians Are Switching to Wealthsimple

The biggest draw is $0 commission on stock trades — a direct saving over the $9.95+ that most banks charge. After two years of using Wealthsimple alongside other brokers, here’s what I’ve found stands out:

The Fee Advantage

What You’re Doing	Traditional Bank	Wealthsimple
Buy $5,000 of RBC stock	$9.95+ commission	$0
Hold USD from dividends	Often poor exchange rates	Free USD account (Premium+)
Managed portfolio ($50K)	1%+ fees	0.4-0.5%
High-interest savings	0.01-0.10%	0.75%-2.25%

For a typical investor making 2-3 trades per month with $50K invested, switching to Wealthsimple can save $300-500 annually—not including the referral bonus.

Mobile-First Experience

In my experience across iOS and Android, the app consistently feels faster and cleaner than the interfaces from the Big Five banks. I find it ideal for my passive investing strategy, though active day traders might want more depth. Features include:

Clean portfolio overview
One-tap stock purchases
Instant deposits from linked banks (limits start around $1,500 per 3 business days and increase as you build history)
Real-time notifications for price movements

Everything in One App

What really sets Wealthsimple apart is the integration. Your investments, banking, crypto, and taxes all live in one place:

Transfer between accounts instantly (no waiting for wire transfers)
See your complete financial picture in one dashboard
Tax time is simplified with automatic imports to Wealthsimple Tax

This integration is why starting with the referral bonus makes sense—even if you only use one feature now, you’ll have access to everything as your needs grow.

The Wealthsimple vs Questrade Question

If you’re comparing platforms, here’s the quick version:

Feature	Wealthsimple	Questrade
Commission	$0	$0 (as of 2025)
Currency conversion	1.5% (or free with Premium)	1.5% (or Norbert’s Gambit)
Mobile app	⭐⭐⭐⭐⭐	⭐⭐⭐
Sign up bonus	$25+ referral code	Varies
Banking integration	Full Cash account	None

For most Canadians, especially those under $100K in assets, Wealthsimple offers the better overall experience. I’m still a Core client myself, and the 1.5% currency conversion fee on USD trades is the main limitation I notice—though Wealthsimple has announced Norbert’s Gambit support is coming in Q1 2026, which should eliminate this pain point for active US stock traders.

How Much Does Wealthsimple Managed Investing Cost?

Wealthsimple charges 0.4–0.5% annually for managed investing, making it one of Canada’s lowest-cost robo-advisors.

Tier	Management Fee	Minimum	Includes
Core	0.5%	$1	Tax-loss harvesting, auto-rebalancing
Premium ($100K+)	0.4%	$100,000	+ financial planning, USD account
Generation ($500K+)	0.4%	$500,000	+ private assets, lifestyle perks

On top of the management fee, the underlying ETFs charge approximately 0.15–0.25% in MERs. Your total all-in cost lands around 0.55–0.75% — compared to 1.5–2.5% for Big 5 bank mutual funds.

Platform	Management Fee	Total All-In
Wealthsimple Managed	0.4–0.5% + ~0.2% MER	~0.6–0.7%
Questrade QuestWealth	0.25% + ~0.2% MER	~0.45%
Big 5 Bank Mutual Funds	0% mgmt + 1.5–2.5% MER	1.5–2.5%
DIY Index ETFs	$0 + ~0.1–0.2% MER	~0.1–0.2%

QuestWealth is cheaper on paper, but Wealthsimple’s tier benefits (free USD account at Premium, higher Cash interest rates) can offset the fee difference depending on how much you use the platform. For a hands-off investor who wants everything in one app, the 0.1–0.2% premium over QuestWealth buys genuine convenience.

If you’re transferring to managed investing, the current promotions can offset your first year’s fees entirely — a 1–3% match on a $50K transfer easily covers 0.5% management for two or more years.

For most everyday investors, the referral code is superior because it requires only a $1 minimum deposit.

	Wealthsimple Promo Code	Referral Code
Source	Seasonal campaigns	Existing users
Reward Type	Often devices (iPhone, AirPods)	Cash ($25+)
Funding Requirement	Usually $100K+	Just $1
Availability	Limited time	Always available
Stacking	Usually not stackable	Situationally stackable

Why Most Canadians Should Use a Referral Code

From what we’ve seen here in Canada, the standard referral code is the better choice for everyday investors because:

The $1 minimum is achievable by anyone looking for a Wealthsimple sign up bonus
Cash is more flexible than the devices offered in promo campaigns
It’s always available—no rushing to meet promotional deadlines

If you’re transferring $100,000+ and Wealthsimple is running one of their device promotions (like the iPhone or MacBook deals), the promo code might beat the referral bonus in total value. But keep in mind that device promos require you to lock up significant capital for 12+ months with strict requirements. Unless you’re also investing that money in market assets, the actual return on that locked capital can be underwhelming.

Bottom line: For most people, the referral code’s $25 cash with a shorter hold period and no large deposit requirement is the smarter choice.

Ready to Claim Your $25?

Seriously, the whole process takes maybe 5 minutes. That’s it. Five minutes for free money.

Get the referral code →
Complete the quick identity verification
Link your bank account
Deposit $1 or more
Get your $25 cash bonus within 24 hours

If you’re transferring a larger portfolio, remember you could earn up to $5,000 through the referral ladder program.

Yes. Wealthsimple’s tier system (Core, Premium, Generation) unlocks better rates and perks as your balance grows — and the commission-free structure saves money from day one.

Tier Benefits

Tier	Threshold	Key Benefits
Core	$0+	$0 commissions, 1.25% cash interest⁷
Premium	$100K+	Free USD account, 1.75% cash interest, lower fees
Generation	$500K+	Lowest fees, private investments, lifestyle perks

The Referrer Program

Once you’re a Wealthsimple client, you can share your own referral code:

Earn $25 for each friend who signs up
No cap on referrals
Your friends get the same $25 bonus

Some active referrers on Reddit report earning thousands through this program over time.

Seasonal Promotions

Wealthsimple regularly runs promotions throughout the year:

RRSP Season (Jan-Feb): Transfer bonuses and deadline reminders
Tax Season (Mar-Apr): Wealthsimple Tax integration promos
Holiday Season (Nov-Dec): Device giveaways for high-value transfers

Staying with Wealthsimple means you’ll be eligible for future offers—another reason to claim your initial sign up bonus and get started.

Frequently Asked Questions

Your $25 cash bonus is typically deposited within 24 hours of making a qualifying deposit of $1 or more. From what we’ve seen, most users get it the same day.

Can I use a referral code if I already have a Wealthsimple account?

You can add one if you’ve never funded an account, or within 7 days of your first deposit.

Yes, in most cases. Wealthsimple’s terms define a “New Client” as someone who has not previously opened a Wealthsimple Investing, Crypto, or Chequing account. If you have only ever used Wealthsimple Tax (formerly SimpleTax) to file your return, you are likely still eligible for the $25 bonus when you open and fund your first asset account.

Can I use a referral code to open a Corporate Account?

Yes, Corporate Accounts are eligible for referral bonuses. However, because Wealthsimple Corporate accounts do not always have “Chequing” features enabled, the referral bonus is typically deposited into the personal non-registered account of the authorized trader associated with the corporation.

Can I refer my spouse if we live at the same address?

Yes. You can refer friends, family, and spouses even if they live in the same household. As long as the person you are referring is a new client (has never funded a Wealthsimple account), you will both receive the cash bonus.

Where does my referral bonus go?

Bonuses are deposited into your Wealthsimple Chequing account, not your investment accounts. This prevents any impact on your TFSA or RRSP contribution room.

Generally, no. You have to choose one or the other when signing up. The same funds can’t trigger both bonuses.

Can I refer my friends after signing up?

Yes! Once you’re a Wealthsimple client, you get your own referral link and can earn $25 for each friend who signs up and deposits $1+. There’s no limit to how many people you can refer.

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