Wealthsimple Promotions 2026: Stack the $1M Draw, Up to 3% Match + Referral

The Bottom Line: Stack Wealthsimple’s 2026 promotions to maximize value: a shot at the Monthly Millionaire $1M draw, a transfer match of up to 3% on $25K+, a $25 referral bonus, and up to $500 credit card cash back when invited. Register before transferring; you have 30 days to fund.

• Monthly Millionaire: $1M grand prize + $25K / $50K / $100K weekly draws — transferring $100K (or $50K with Direct Deposit active) maxes the 100,000-entry cap
• 1% Match: Transfer $25K+ for a 1% cash match that upgrades to 3% in any month you hold Active Trader status (50+ trades), plus a $150 transfer-out fee rebate
• $25 Referral Bonus: Sign up with a code + deposit $100 — use code 9C6DMQ
• Activate in this order: referral code first, then register for the 3% Match and Monthly Millionaire in-app, then transfer

What are the active Wealthsimple promotions for 2026?

The current active promotions include the Wealthsimple Monthly Millionaire, the Wealthsimple 1% Match, the Referral Bonus, and the Mortgage Cash Back Offer.¹ Below is a breakdown of how these offers compare and stack.

How does the Monthly Millionaire entry math work?

Monthly Millionaire is Wealthsimple’s recurring cash giveaway, and there are five ways to enter.² The June 2026 contest opens May 28, 2026 and runs through June 24, 2026. Every subsequent monthly contest opens the day after the prior grand prize draws.

• In-app registration — 500 entries per contest (you re-register each contest; entries don’t carry forward)
• Net deposits during the contest window — $1 net deposit = 1 entry, capped at 100,000 entries per contest
• Referrals — 5,000 entries per qualifying referral (referee signs up and deposits $100)
• Wealthsimple Presents QR code — 500 entries, one-time per client (earned at a Wealthsimple Presents event)
• Active Direct Deposit — doubles your entries on every draw after activation

Your total entries reset for each new Monthly Millionaire contest — nothing rolls over.² The deposit count is calculated net of withdrawals during the contest window, so depositing $100,000 and pulling $20,000 out lands you at 80,000 entries, not 100,000. Day-to-day legitimate spending doesn’t penalize you: scheduled bill payments, PADs, and credit card payments to third parties are not treated as withdrawals — only ATM cash and EFT pulls to your own external accounts reduce the net deposit total. Internal moves between Wealthsimple accounts (Chequing → TFSA, etc.) count as neither deposits nor withdrawals for the contest.²

How do you maximize your entries for the Monthly Millionaire?

You can maximize your entries by setting up Direct Deposit on your Wealthsimple Cash account. Every qualifying dollar deposited during the contest window then counts as double on every draw remaining after DD activates. The 100,000-entry deposit cap stays absolute — DD just halves the deposit dollars needed to reach it (about $50K with DD active versus $100K without).

The multiplier persists across contests. Once your DD is active and the doubled rate kicks in, it stays in effect for all remaining draws that month and in every subsequent monthly contest as long as you continue to meet the eligible monthly Direct Deposit requirement.² Set DD up once early in the year and every future contest auto-doubles from the open, no fresh setup needed each time.

Direct Deposit also pays off outside the Monthly Millionaire. At $2,000+ per month in qualifying DD, Core and Premium clients earn an extra 0.50% on their Wealthsimple Cash account interest rate. At $4,000+ per month in DD, the $20/month Wealthsimple Credit Card fee is waived — useful if you haven’t crossed the $100K assets threshold that also waives it. One setup, three benefits compounding.

A deposit (or DD activation) before the first weekly draw applies to all four prize events in the contest; a deposit before only the grand prize enters that single draw. Below, see which draws are covered based on when funds or DD activation land:

A deposit that lands after the contest closes — for the June 2026 contest, after June 24 — rolls into the next contest’s entry pool.²

How many Monthly Millionaire prizes are awarded per contest?

Each Monthly Millionaire contest awards four prizes: three weekly cash draws of $25,000, $50,000, and $100,000, plus a $1,000,000 grand prize on the final day.² Deposit entries are capped at 100,000 per client per contest, so across a year the ladder repeats about twelve times — roughly 12 grand-prize draws and 36 weekly draws.

Once you reach the 100,000-entry cap, you’ve matched the deposit odds of every other client who maxes out. Above the cap, extra deposit dollars add zero entries — but the Wealthsimple 1% Match keeps paying on every qualifying dollar above the cap, up to $60,000 in cash bonus (at the 3% Active Trader rate) on $2 million of institutional transfers (cash deposits don’t count). The two stack: a single $100K+ transfer can max the Monthly Millionaire deposit cap and earn the transfer match in the same move.

How does the Wealthsimple 1% Match (and 3% Active Trader upgrade) work?

The Wealthsimple 1% Match pays a 1% cash match on institutional transfers of $25,000 or more, and upgrades to 3% — up to a $60,000 bonus on $2,000,000 — in any month you hold Active Trader status, paid as 24 equal monthly payments.¹ Each monthly payment lands at 3% only if you held Active Trader status in the prior calendar month, and at 1% in any month you don’t. The 3% rate took effect June 3, 2026.

Your rate is set month by month, not locked at signup.¹ Hold Active Trader status in the calendar month before a payment and that payment pays 3%; lose it and that payment — plus every remaining one — drops to 1% from the next scheduled date. Re-earn the status and the rate climbs back to 3%, with payments already made at 3% never clawed back. To collect the full 3% across all 24 months, you’d have to hold Active Trader status continuously for two years.

Key details

The bonus

• Up to 3% on every qualifying dollar — 1% base, 3% in months you hold Active Trader status¹
• Paid as 24 equal monthly payments into your Cash/Chequing account
• Max bonus: $60,000 on $2,000,000 of transfers, at the 3% rate
• Transfer fees up to $150 reimbursed on one transfer per account³

Eligibility

• Minimum qualifying transfer: $25,000 in a single account
• Eligible: Wealthsimple Trade, Managed Investing (Wealthsimple RRSP, TFSA, Wealthsimple FHSA, LIRA, RESP, RRIF, LIF, Corporate), Wealthsimple Crypto
• Cash deposits NOT eligible — institutional transfers only

Windows & holds

• Register before transferring; 30-day qualification window after registration
• Funds must arrive within 90 days after the qualification window ends
• 730-day hold with a 20% withdrawal buffer (carve-outs: scheduled bill payments, PADs, Home Buyers’ Plan, FHSA withdrawals, credit card payments)

On a $100,000 transfer, holding Active Trader status the whole way roughly triples the cash:

What counts as a trade, and the 50-trade rule

Active Trader status takes 50 or more manually-placed trades in a single calendar month — across stocks, ETFs, options, crypto, precious metals, or futures, with fractional orders counting and automated or recurring orders excluded.⁴ The status then applies for that month plus the following calendar month, a one-month grace period — which is why the app can show a low trade count while your status is still active: a client who hit 50 trades in May keeps the status through June regardless of June’s count. The tally is calculated per execution overnight, so a single order that fills in several pieces adds several trades.

Wealthsimple polices the threshold. Its terms reserve the right to revoke the status where, in its sole discretion, it determines that “a client’s activity is designed to game or manipulate the qualifying thresholds,” and the help centre adds it may revoke status “if trading activity appears intended only to qualify for the program (for example, placing many minimal-value trades).”⁴

One consideration sits outside the promotion: trading frequently enough to qualify can carry its own tax implications. No fixed number of trades triggers it, but the Canada Revenue Agency can treat a frequent, short-horizon trader’s gains as business income — fully taxable, rather than capital gains taxed at the 50% inclusion rate — a risk that is most acute inside a TFSA and is judged on the full facts, not a trade count.⁵

Can I add a referral code after I’ve already signed up?

Yes, but you have exactly 7 days to add a referral code retroactively in the app after funding your account.⁶ If that 7-day window closes, the $25 bonus is lost forever. See our full guide on how to add a Wealthsimple referral code after signing up. For the current code and eligibility details, visit our Wealthsimple referral code guide.

How the referral bonus works

• Sign up using a referral code
• Fund your account with at least $100 within 30 days
• You receive $25, and the referrer also receives cash⁶

The standard bonus is $25 for new users — fixed, no matter how much you deposit beyond the $100 minimum.

What referrers earn

Referrers earn the same flat $25 per qualifying referral as the new client, regardless of deposit size, though Wealthsimple occasionally runs limited-time boost promotions on referral payouts. The tiered Referral Ladder, which paid referrers up to $2,000, closed on June 8, 2026; referrals created before that date stay under the old tiers.

How to stack Wealthsimple promotions for maximum value

To maximize your return, follow this order: Referral Code → Registration → Transfer. Doing this out of order may disqualify you from the referral bonus or the transfer match.

Step 1: Sign up with a referral code

Get your $25 bonus locked in with a $100 deposit. If you fund without a code, you have exactly 7 days to add one retroactively.⁶

Step 2: Register for the 1% Match

Go to the Rewards Centre (gift icon) and register before initiating any transfer. Registration starts your 30-day qualification window.¹

Don’t panic if the badge doesn’t appear on your dashboard immediately after you register. There can be a 2-4 hour lag between clicking “Register” and seeing the confirmation status update in the Rewards tab. Take a screenshot of the “Success” pop-up just in case you need proof for support later.

Step 3: Initiate your transfer within 30 days

Transfer at least $25,000 from another institution. Must be an institutional transfer, not a cash deposit. Funds must arrive within 90 days after the qualification window ends.

Example: $100,000 Portfolio Transfer

Are Wealthsimple’s promotional bonuses taxable in Canada?

Wealthsimple’s own terms hedge with “may be taxable” for both the Referral Bonus and the match transfer bonus, and the company does not issue a tax slip (T5 or T4A) for either when paid into a non-registered Wealthsimple Chequing account. Clients are responsible for their own reporting.⁷⁶

The two bonuses sit at very different points of the same spectrum:

• The $25 Referral Bonus is paid for introducing a new client to Wealthsimple, which is structurally a finder’s fee or referral fee — categories CRA generally treats as “other income” reportable on line 13000. The conservative read is to report it.
• The match transfer bonus is paid as a promotional incentive for moving assets, and in practice it sits in a legal gray zone with two defensible positions: some taxpayers report it as “other income,” and others treat it as a promotional rebate analogous to credit card cash back, which CRA’s longstanding practice has treated as non-taxable for personal use. CRA has not published a ruling on transfer bonuses specifically.

With no slip arriving in February and no clarifying CRA guidance on the transfer bonus, the call structurally falls to the client. Speak with a tax professional, since the right answer can depend on the bonus type, the bonus size, the account type it lands in, and your overall income picture.

What are the hidden rules and “gotchas” for transfers?

The most common pitfall is market volatility dropping your account value below the $25,000 threshold during the transfer window. If you transfer exactly $25,000 in stocks and the market drops 10%, your assets may land at $22,500, disqualifying you from the bonus.

What is the Wealthsimple mortgage cash back offer?

Get up to 0.25% cash back when you obtain a mortgage through Wealthsimple’s brokers, based on your total Wealthsimple assets.⁸ Effective January 15, 2026.

What is the Wealthsimple Credit Card 5% Cash Back Welcome Offer?

The Wealthsimple Credit Card 5% Cash Back Welcome Offer gives invited cardholders up to $500 in total cash back during a 30-day boost — a $300 welcome boost layered on top of the standard 2% rate, applied to the first $10,000 of net purchases after approval.⁹

The offer is invitation-only, delivered by in-app message or email — you cannot apply directly, and you have 30 days to apply and get approved once the invitation arrives. After approval, the 30-day boosted spending window starts immediately; refunds during the window reduce your qualifying spend, and you must keep the card open for at least 180 days after the boost ends or the welcome bonus is clawed back.

Beyond the welcome offer, the card pays 2% cash back on every purchase with 0% foreign exchange fees, and the Visa Infinite Privilege variant adds 1,200+ airport lounges, car rental insurance, and expanded travel protection.¹⁰ The 5% welcome offer stacks with the Wealthsimple referral code bonus and the Wealthsimple 1% Match transfer bonus — a single $25,000+ transfer can surface the transfer match, the transfer-fee rebate, and a credit card invitation from one move.

When are the deadlines for Wealthsimple 2026 promotions?

The 1% Match has no fixed registration deadline — instead, you get a 30-day qualification window from the day you register.¹ Other 2026 promotions run on their own schedules.

Is switching to Wealthsimple worth it in 2026?

2026 is one of the best times to switch to Wealthsimple. By combining a referral code with the 1% Match, you can earn:

• $25 referral bonus
• Up to 3% cash match on transfers of $25K+ (paid as 24 monthly payments)
• One transfer-out fee reimbursed per account (up to $150)
• Up to $500 credit card cash back (invitation-only)

The transfer match is a 1% base that upgrades to 3% in any month you hold Active Trader status — 50 or more trades that month. Miss the threshold and that month’s payment reverts to 1%, though Wealthsimple never claws back anything already paid at 3%. The headline 3% is real, but it rewards clients who keep trading, not buy-and-hold transferrers who’ll sit at 1%.

Quick Tips

1. Register BEFORE you transfer — Transfers made before registration don’t count.⁷

2. Mind the 730-day hold — Withdrawing more than 20% of qualifying funds reduces future match payments. Bills, PADs, HBP, FHSA, and credit card payments are carved out and don’t count toward the cap.

3. Use institutional transfers — Cash deposits don’t qualify for the transfer match.

4. Get your transfer fees reimbursed — Wealthsimple reimburses one transfer-out fee per account (typically $135-$150) on qualifying $25K+ transfers.³

5. Open a Chequing account — Bonuses deposit into Wealthsimple Chequing. You’ll have 30 days to open one if needed.

Ready to stack?

Lock in the $25 referral first, register for the 3% Match and Monthly Millionaire in-app, then transfer. You have 30 days to fund after registering.

Frequently Asked Questions

What is the Wealthsimple Monthly Millionaire and how do I enter?

The Monthly Millionaire is Wealthsimple’s recurring cash giveaway, running in roughly four-week contests. Each contest awards three weekly cash draws ($25,000, $50,000, $100,000) and a $1 million grand prize on the final day. You can earn entries five ways — registering in the app (500 entries), depositing money during the contest window ($1 net deposit = 1 entry, capped at 100,000 per contest), referrals (5,000 entries each), a Wealthsimple Presents QR code (500 one-time), and an active Direct Deposit (2× per-dollar rate on remaining draws after activation).²

How does the Direct Deposit multiplier work for Monthly Millionaire?

When you have an active Direct Deposit set up in your Wealthsimple Cash account, eligible deposits during the contest window count at a doubled per-dollar rate on remaining draws. The 100,000-entry deposit cap still applies — DD lowers the deposit dollars needed to reach the cap (around $50K with DD active versus $100K without) and doubles entries earned on any draw after activation. Once active, the multiplier persists for every subsequent monthly contest as long as you keep meeting the eligible monthly Direct Deposit requirement.²

Can I enter the Monthly Millionaire if I already have a Wealthsimple account?

Yes. Existing Wealthsimple clients enter by registering in the app each contest (the registration itself earns 500 entries), and any deposits made during the contest window add additional entries ($1 net = 1 entry, capped at 100,000 per contest).² Registration is per-contest — you renew it each time a new contest opens.

How much is the Wealthsimple referral bonus in 2026?

$25 for new users. You must sign up with a referral code and deposit at least $100 within 30 days.

Can I combine the referral bonus with the Wealthsimple 1% Match 2026?

Yes, if you follow the correct order. Sign up with a referral code first to get the $25, then register for the 1% Match 2026 in the app before transferring your portfolio.⁷

Does Wealthsimple reimburse transfer fees from other banks?

Yes, Wealthsimple reimburses one transfer-out fee per account (typically up to $150). This applies when your qualifying transfer is at least $25,000 in a single account.³ You usually need to upload a document proving the fee was charged.

Is the Wealthsimple free iPhone promotion still available in 2026?

Not yet in 2026. The free iPhone promotion ran in 2024 and hasn’t returned. Wealthsimple’s current transfer promotion is the 1% Match — which upgrades to 3% for clients who hold Active Trader status, on transfers of $25,000 and up, paid over 24 months.¹

Can existing Wealthsimple clients get the 1% Match 2026 bonus?

Yes. Both new and existing Wealthsimple clients can register, as long as accounts are in good standing. The bonus applies only to new funds transferred in — you cannot earn the match on assets already at Wealthsimple.⁷

Is the Wealthsimple 3% match really 3%?

Partly. It’s the 1% Match with an upgraded rate: you earn 3% only for months you held Active Trader status (50+ trades) the prior calendar month — otherwise that month pays 1%. It’s paid as 24 monthly installments, up to a $60,000 bonus on $2,000,000 transferred. Already-paid 3% installments are never clawed back.¹

How do you qualify for Active Trader status at Wealthsimple?

Complete 50 or more manually-placed trades in a calendar month across stocks, ETFs, options, crypto, precious metals, or futures (fractional orders count; automated or recurring orders don’t). Status applies for that month plus the following calendar month — a one-month grace period — so the on-screen trade count can look low while your status is still active.⁴

What happens to the 3% match if you stop trading?

Your remaining monthly payments drop to the 1% rate starting from the next scheduled payment after you lose Active Trader status. Payments already made at 3% aren’t recovered. If you requalify (50+ trades in a calendar month), the rate returns to 3% from the next payment.¹

Do TFSA or RRSP transfers count towards the bonus?

Yes, registered account transfers qualify. However, the cash bonus itself is paid into your non-registered Cash/Chequing account, making the bonus payment taxable income.

What happens if I withdraw early from the 1% Match 2026?

Funds are subject to a 730-day hold period with a 20% withdrawal buffer.⁷ Withdrawing more than 20% of qualifying funds reduces your future monthly match payments proportionally. Carve-outs that don’t count toward the 20% cap include scheduled bill payments, PADs, Home Buyers’ Plan withdrawals, FHSA withdrawals, and credit card payments.

How much can I earn with the Wealthsimple Credit Card 5% Cash Back Welcome Offer?

Up to $500 in total cash back during the 30-day boost — a $300 welcome boost layered on top of the standard 2% rate, applied to the first $10,000 of net purchases after approval.⁹ The offer is invitation-only (delivered via in-app message or email), and you must keep the card open for at least 180 days after the boost ends.

Is the (Un)Real Deal still available?

No. Registration closed April 30, 2026, and the $3 million home was drawn on May 4, 2026. The (Un)Real Deal was replaced by the Wealthsimple 1% Match 2026 — a single-tier 1% cash match on transfers of $25,000+, paid as 24 equal monthly payments, since upgraded with a 3% Active Trader rate.⁷ If you registered for the (Un)Real Deal before April 30 and your transfer settles by July 29, 2026, your original tier rate still applies; the 1% Match only governs new registrations from May 4 onward.

Disclaimer: Promotion terms are subject to change. Verify current offers with Wealthsimple before making financial decisions.

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