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There are so many ways to make a little extra money, and Wealthismple Refer-A-Friend is one of the best refer-a-friend programs in Canada. A Wealthsimple referral code is a potentially lucrative and easy way to make up between $5 and $3,000. You just send the Wealthsimple referral code to your social network and wait for your friends and family to open and fund an account.

Many companies have refer-a-friend programs as part of their overall marketing strategies to attract new customers. Without doing the legwork themselves, these businesses get existing customers to do it for them.

Wealthsimple is one such company that has its own referral program that helps them gain new clients while helping its existing customers make some extra cash at the same time.  

Let’s take a closer look at the Wealthsimple refer a friend program and how you can use it to pocket some extra money.

Who Is Wealthsimple?

Wealthsimple is an online, self-directed investment platform that allows investors to trade stocks and exchange-traded funds (ETFs) on stock exchanges. Based in Toronto, Canada, the fintech company charges low fees, making it a more affordable way for investors to buy and sell without pricey commissions eating into their profits. 

This “robo-advisor” is made up of a team of financial and technology experts that have devised a simplified investment platform that is designed for both novice investors and experienced traders alike.

Wealthsimple likes to be innovative in the Canadian market. In fact, at the time of writing, Wealthsimple Cash account holders are eligible for up to $300,000 in protection from the Canada Deposit Insurance Corporation (CDIC). You don’t get that with every fintech.

You also don’t get the same potential return on a referral program. We explore that next.

Wealthsimple Referral Code Is The Invitation To Its Refer-A-Friend Program

The company offers a handful of ways to earn rewards by referring friends and family to the online investment platform. If you work at a company, you can also earn referral money with Wealthsimple For Work referral program.

Wealthsimple Ambassador Program  

The Wealthsimple Ambassador program offers a randomized bonus amount. You get your referral bonus when your referral opens and funds an eligible account, such as a Stocks & ETFs or Crypto account. These rewards range from $5 to $3,000, though the average is usually around $10. The person referred will also earn a randomly chosen cash reward. 

However, if you reside in Quebec, you are not eligible for the randomized reward option. Instead, you get a $20 reward.

Who Qualifies For The Wealthsimple Refer-A-Friend Program?

Wealthsimple wants to build its client base with your help. That is why the person that you refer has to not already have a Stock & ETF or Crypto account with Wealthsimple. The referral bonus gets paid to your Promotion Account. You can do what you want with the money. You don’t have to buy any Wealthsimple products with it. The money is yours to use to buy anything you want or to settle debts.

The Time Limit To Claim A Wealthsimple Referral Code

Your referred friend or relative only has 30 days to open and fund their account with the referral link. Once they fund the account, your bonus never expires. You can claim it at any time. If they do not fund within 30 days, the bonus expires. It is a two step process: open an account and fund it. There is no minimum deposit, so they can fund their new account with as little as $1.

However, if they signed up for Wealthsimple in the last 30 days before getting your referral invitation, they can still use the referral link. After 30 days the link will still expire.

What Does Wealthsimple Offer?

The platform delivers various services and products to help you make smart investments and grow your wealth quickly. 

Wealthsimple Invest 

Wealthsimple Invest is an automated investment service that uses a customized portfolio of low-cost ETFs to manage your investments on your behalf. 


  • Automated or DIY trading options. Have your investments automated with Wealthsimple’s robo advisor services, which will create a custom portfolio based on your needs and finances. Otherwise, you can take a more hands-on approach with your investments. Wealthsimple Invest is flexible when it comes to how much or how little you’d like to be involved in the investment process. 
  • Fractional shares. With fractional shares, you can invest in more expensive stocks without having to buy a full share. Instead, you can invest right away with whatever money you have. Every dollar invested starts earning interest immediately without having to wait until you have the funds to purchase a full share. 
  • No trade commissions. Wealthsimple lets you trade stocks and ETFs without any commissions. That means you can keep more money in your pocket without having to dish out for every trade you make. This is especially helpful if you make frequent transactions.  

Wealthsimple Crypto

The Wealthsimple Crypto platform allows you to trade over 50 cryptocurrencies using fiat currency. You can also find this trading service in the Wealthsimple Trade app where you can add money to your crypto account and start buying and selling digital coins. 


  • Stake your crypto and earn up to 4.5% each year. Staking allows you to use your crypto to earn more crypto. With Wealthsimple, you can stake your coins with just a couple of taps on the app and earn as much as 4.5% per year. Your rewards will automatically be deposited in your account. 
  • Insured and protected. Your cryptocurrency is protected by Gemini Custody, a crypto custodian regulated in the US. Wealthsimple will only access your crypto coins held at Gemini when the transactions you initiate need to be settled. 
  • Simple fees. Buy and sell crypto without commission fees. 

Wealthsimple Cash Account

The Wealthsimple Cash account lets you send and receive money instantly. You can earn interest on your deposits like a savings account, while also accessing your funds as often as you want like a chequing account. There are no monthly fees or requirements to maintain a minimum account balance. These accounts are available on the Wealthsimple app. 

As stated above, Wealthsimple Cash Accounts are eligible for $300,000 in CDIC protection. That is up to 3 times the amount of protection you get elsewhere. Of course, you need to read the fine print to see exactly what it entails.


  • No monthly fees. Unlike traditional chequing and savings accounts, the Wealthsimple Cash account comes with no monthly fees.
  • Cash back. Earn 1% back in cash, stocks, or cryptocurrency. Or, you can have these extra earnings automatically invested for you. 
  • Earn 3% interest on direct deposits. When you direct deposit at least $500 of your paycheque, you can earn 3% interest on your Wealthsimple Cash balance
  • Up to $300,000 in CDIC protection on eligible accounts and deposits.

Final Thoughts

Wealthsimple not only makes it easy to trade stocks, ETFs, and crypto, but it also offers a way to earn some extra money through its refer a friend program. If you’re already using the trading platform, consider sending friends and family to it and get rewarded for doing so. 

Wealthsimple Refer-A-Friend - FAQs

How do you find your Wealthsimple referral code?

To refer friends and family to Wealthsimple, you’ll need a unique Wealthsimple referral code. In the Wealthsimple app, click on the gift box icon. Then, select “Invite friends” and share your link to others through text, email, or social media.

How can I reach Wealthsimple?

You can contact Wealthsimple the following ways:

Can Quebec residents refer a friend?

Quebec residents are not eligible for the random cash offer due to regulatory restrictions. However, they will receive a $20 reward.

Does Wealthsimple offer personal loans, mortgages or auto loans?

Wealthsimple is a fintech platform that offers cash accounts, crypto trading, tax services, and investing to Canadians. It does not offer personal loans or auto loans or mortgages. Other sites including Loans Canada offer personal loans.

Does a Wealthsimple referral invitation expire?

Yes, your referral has 30 days to activate and fund a new account. After 30 days, the referral link expires. Once the referred friend or family member funds a new account, the bonus is paid to your Promotion Account.
Lisa Rennie avatar on Loans Canada
Lisa Rennie

Lisa has been working as a personal finance writer for more than a decade, creating unique content that helps to educate Canadian consumers in the realms of real estate, mortgages, investing and financial health. For years, she held her real estate license in Toronto, Ontario before giving it up to pursue writing within this realm and related niches. Lisa is very serious about smart money management and helping others do the same.

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