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Wealthsimple

Get $100 when you Deposit at least $500 through Wealthsimple Invest (New Customers Only)

  • Last Updated:
  • Sep 16th, 2021 8:57 pm
[OP]
Jr. Member
Jul 12, 2019
199 posts
775 upvotes

Get $100 when you Deposit at least $500 through Wealthsimple Invest (New Customers Only)

Deal Link:
Retailer:
Wealthsimple
Their portfolios suck for multiple reasons (e.g. investor with 40+ year horizon can't invest in 100% equities - lolwut?!) but hey, it's an easy 20% ROI.
You can withdraw after 180 days according to the fine print at the bottom. This money was going into my TFSA for the long haul anyway, so I don't see this as "locking up" $500 but YMMV.

You can also get up to $10,000 of your investment managed for free for 12 months using one of the countless referral codes available online. You'll have to enter your referral code after you've completed signup and have access to your account, through the Rewards link in the top right corner of the page. The $10,000 of free management for 12 months does stack with the $100 bonus.

If you already have any WS product you are not eligible for this offer, as per the T&Cs. If you have a WS account, but no products, you can try doing what this user did to get the $100 bonus.
Last edited by RichardStroker on Oct 17th, 2020 3:47 pm, edited 6 times in total.
Thread Summary
Terms from the promo:
Wealthsimple will pay a one time bonus when you sign up for a Wealthsimple Invest Account (the "Promotion Account"). Please note cash bonuses will be applied to your account within 7 business days of meeting required investment level.

This offer is only applicable to new Wealthsimple customers, being individuals who have not previously registered or created an account with Wealthsimple. This offer does not apply to Wealthsimple Trade Accounts, Crypto Accounts, Cash Accounts or clients under the Wealthsimple for Work platform. This offer cannot be used in conjunction with any other promotional offer. In order to validate this offer, you must click through from the relevant affiliate link containing the unique tracking code allowing Wealthsimple to identify you. You may only have one (1) Promotion Account. If you open more than one Promotion Account during the offer period, the accounts will be prioritized for payout based on account opening date. Deposits that are split across more than one account will not be considered for eligibility when calculating whether you meet the net new asset minimum threshold (for example, $250 in a RRSP Account and $250 in a Non-Registered Account cannot be combined to reach the $500 threshold). Minimum deposit threshold must be met within 30 days of registration. Customers who receive a bonus payment must keep at least $500 in their Promotion Account for 180 days from initial funding date or their bonus payment will be deducted from their final withdrawal amount or otherwise recovered by Wealthsimple. Wealthsimple reserves the right to amend, withdraw or restrict this promotion at any time without notice. Wealthsimple is the sole arbiter of these rules and any other issue arising under this promotion. If gaming of the system is found, Wealthsimple reserves the right to remove all promotions from the Promotion Account and take any other action it deems appropriate including, but not limited to, closing the Promotion Account. An invitation to participate in this offer does not provide assurance that you will be accepted as a customer of Wealthsimple. This offer is only valid for individuals in Canada that otherwise meet our eligibility requirements. Our standard terms (https://www.wealthsimple.com/en-ca/legal/terms) relating to your use of Wealthsimple and the investment management agreement that applies to the Promotion Account (https://my.wealthsimple.com) each apply and are not affected in any way by this offer.
289 replies
Deal Expert
User avatar
Nov 2, 2003
16631 posts
3060 upvotes
GTA
they also don't charge for stock trades right?
Newbie
Jul 25, 2019
83 posts
90 upvotes
I did the promotion of $50 worth of airmiles for $500 deposit last year, It went well for me the fund was up a little more than 8 % in August and I sold it all. The not being able to invest 100% in equities is the same with RBC's robo investing portfolio.
Deal Addict
Oct 12, 2008
2308 posts
5084 upvotes
Markham
actng wrote: they also don't charge for stock trades right?
Yes, but for the purposes of this promotion Trade and Cash accounts are not eligible for the $100 bonus.

Still a solid deal if you're investing it anyway in the way that the OP is doing.
Newbie
Jul 25, 2019
83 posts
90 upvotes
actng wrote: they also don't charge for stock trades right?
That's a different product called Wealthsimple Trade (which doesn't charge for stock trades except for a 1.5% exchange rate markup for US stocks)

This promotion is for wealthsimple Invest, an automated robo adviser that keeps your funds in stocks and bonds, it sells one asset when it inflates too much and buys the other asset which has decreased in proportional percentage of the portfolio. For my portfolio when stocks crashed earlier this year and bonds increased in value the fund automatically sold some bonds and purchased stocks (equities).
Newbie
Mar 29, 2019
13 posts
6 upvotes
If I am an existing customer of wealthsimple trade can I still take advantage of this if sign up for wealthsimple invest?
Member
Aug 8, 2011
200 posts
219 upvotes
Vancouver
Hmm I created a WS Trade account a few days ago for 400 Air Miles. The terms aren't entirely clear but I'm guessing if I have any WS products I wouldn't qualify?
Jr. Member
User avatar
Aug 6, 2019
113 posts
126 upvotes
Ontario
I have 100% equity, it just took a phone call/well worded email explaining my investment experience in multiple hotels and casinos.


Jk.

But you can get 100% equities I have it
[OP]
Jr. Member
Jul 12, 2019
199 posts
775 upvotes
KenjiP46912 wrote: If I am an existing customer of wealthsimple trade can I still take advantage of this if sign up for wealthsimple invest?
Dragynfyre wrote: Hmm I created a WS Trade account a few days ago for 400 Air Miles. The terms aren't entirely clear but I'm guessing if I have any WS products I wouldn't qualify?
"This offer is only applicable to new Wealthsimple customers, being individuals who have not previously registered or created an account with Wealthsimple."

Yeah, seems like if you already have any WS product you don't qualify.
[OP]
Jr. Member
Jul 12, 2019
199 posts
775 upvotes
MrFinancial wrote: But you can get 100% equities I have it
How?
Can you also choose your asset allocation for the equities? For example 30/30/30/10 Canadian/US/International/EM?
Member
User avatar
Dec 17, 2018
408 posts
1282 upvotes
Toronto, ON
actng wrote: they also don't charge for stock trades right?
Only CA stock trade. Their commission for US stock trade is expensive
Member
Sep 14, 2014
245 posts
254 upvotes
Toronto, ON
Hey @RichardStroker

Correct me if I'm wrong but I don't think that you can combine a referral for free management with this offer as you stated in the OP, from the offer terms:
This offer cannot be used in conjunction with any other promotional offer. In order to validate this offer, you must click through from the relevant affiliate link containing the unique tracking code allowing Wealthsimple to identify you.
Account holder of Simplii Financial, Drop Rewards & EQ Bank :)
Member
User avatar
Apr 13, 2009
428 posts
291 upvotes
Toronto
kyoxxx wrote: Only CA stock trade. Their commission for US stock trade is expensive
It's not commission, it's the exchange rate which you get hit by every time you buy or sell US stocks.
But this promo is not for brokerage account; it's for WealthSimple Invest which is a roboadvisor.
Deal Fanatic
User avatar
Dec 11, 2005
8945 posts
1503 upvotes
TO
Is it possible to let the funds sit in a money market or low exposure to market account to ensure no decrease of initial investment?
"You can't soar with the eagles if you're hanging with the turkeys - Gary Kent
[OP]
Jr. Member
Jul 12, 2019
199 posts
775 upvotes
rfdfan2 wrote: Hey @RichardStroker

Correct me if I'm wrong but I don't think that you can combine a referral for free management with this offer as you stated in the OP, from the offer terms:
It worked for me. I have both offers on the site's "Rewards" page. See the images attached.
TorontoEh wrote: Is it possible to let the funds sit in a money market or low exposure to market account to ensure no decrease of initial investment?
Not as far as I can tell. The most conservative portfolio seems to be 30% equity and 70% fixed income.
Images
  • free_management.PNG
  • Bonus.PNG
Last edited by RichardStroker on Oct 8th, 2020 11:40 pm, edited 1 time in total.
Newbie
Aug 9, 2015
5 posts
Toronto, ON
Is this offer for new customers or existing customers too?

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