Wealthsimple is Canada's most popular investing and personal finance app, with over 3 million users managing everything from TFSAs to crypto. Their referral program offers one of the most straightforward bonuses in the country: sign up, deposit, and both you and the person who referred you earn a $25 bonus.
This guide walks through exactly how to claim it.
What You Get
- $25 cash bonus — credited to your Wealthsimple account
- Small minimum deposit — requires a minimum funding depost of $100
- Bonus credited within 30 days of completing the requirements
The bonus is real money — it can be used to invest, save, or even withdraw
Step-by-Step: How to Claim the Bonus
Step 1 — Use the Referral Link
Start by clicking the referral link from this page. This ensures the referral is tracked — do not go directly to the Wealthsimple website or app store, as the bonus will not apply.
Get the Wealthsimple referral link
Step 2 — Create Your Account
Download the Wealthsimple app or sign up at wealthsimple.com. You will need to:
- Provide your name, email, and phone number
- Verify your identity with a government-issued ID
- Complete a short suitability questionnaire (takes about 3 minutes)
Step 3 — Open an Account and Deposit
Open a Wealthsimple Invest account — TFSA, RRSP, or non-registered all qualify. Connect your bank account and make a deposit of any amount. Wealthsimple supports Interac e-Transfer and direct bank deposit.
Step 4 — Wait for the Bonus
Once your deposit is confirmed and invested, the $25 bonus is typically credited within 15–30 business days. You will receive a notification in the app when it arrives.
Tips to Maximize Your Wealthsimple Experience
Use a TFSA first. Any growth on your $25 bonus — and your other investments — is tax-free in a TFSA. This is almost always the right starting point for Canadian investors.
Enable automatic deposits. Even small recurring deposits ($25–$50/month) take advantage of dollar-cost averaging, which is the strategy Wealthsimple's managed portfolios are built around.
Check the Premium tier. Wealthsimple Premium reduces the management fee from 0.5% to 0.4% once your balance reaches $100,000. For smaller balances, the standard tier is fine.
Common Questions
Can I use the referral code if I already have a Wealthsimple account?
No. The referral bonus is only available to new customers who have never held a Wealthsimple account before. If you have a previous account — even a closed one — you likely will not qualify.
Which account types qualify?
Any Wealthsimple Invest account (managed portfolio) qualifies — TFSA, RRSP, FHSA, or non-registered. Wealthsimple Trade (self-directed) and Cash accounts do not qualify for the standard referral bonus.
What if the bonus does not appear after 30 days?
Contact Wealthsimple support through the app with your account email and deposit confirmation. They can investigate and manually apply the bonus if it was not tracked correctly.
Is Wealthsimple Worth It Beyond the Bonus?
The referral bonus is a nice start, but Wealthsimple's long-term value is in the product itself. Their managed portfolios use low-cost ETFs and automatic rebalancing — a strategy that outperforms most retail investors over time. For Canadians who want a simple, set-it-and-forget-it approach to investing, it is one of the best options available.
The 0.5% management fee is reasonable for what you get, and the interface is significantly better than most legacy bank investment platforms.