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Wealthsimple

Wealthsimple Invest $100 bonus for new customer when you deposit $1000 for 6 months

  • Last Updated:
  • Sep 3rd, 2021 9:44 pm
Deal Addict
May 12, 2010
2592 posts
816 upvotes
Vaughan
orbitdesign wrote: Maybe it's because it's an RRSP and not a TFSA? I just checked and it's there for TFSA so double check.

Sign in to Trade, open the menu and go to Funding. At the top, it'll have Money and Accounts, Select Accounts and the second option for me is "Transfer from WS Invest" and when I click that, I can see my TFSA in Invest.

Crypto and taxes... the gov really needs to handle this properly. It's a mess.
Thank you. Followed your instructions and it worked perfectly. The chat agent had me looking in a different menu and then said it could only be done with TFSA accounts. :rolleyes:
Public Mobile $40/15GB
Deal Addict
Aug 29, 2007
3198 posts
2844 upvotes
Cambridge
d_source wrote: Thank you. Followed your instructions and it worked perfectly. The chat agent had me looking in a different menu and then said it could only be done with TFSA accounts. :rolleyes:
No problem and glad you found it... odd that support wasn't aware of this... not sure how I feel about that level of competency :/
Penalty Box
Apr 15, 2011
5156 posts
1887 upvotes
Scarborough
LenXons wrote: It’s good to use WS to trade Canadian holdings, no fee
You are right when it comes to trading crypto and US stocks
And if you're just using this for canadian stocks then yes it's a good platform. But who does that?

I'd also like some advice on a place to buy US stocks for a low fee and same with crypto.
Deal Addict
Aug 29, 2007
3198 posts
2844 upvotes
Cambridge
blaznazn22 wrote: And if you're just using this for canadian stocks then yes it's a good platform. But who does that?

I'd also like some advice on a place to buy US stocks for a low fee and same with crypto.
Sent you a message to avoid cluttering the thread with crypto since this is about WealthSimple's promo.

Questrade for US stocks. I believe they charge a penny/share bought with a minimum fee of $5 and a max of $10
Deal Addict
Aug 7, 2011
1814 posts
2643 upvotes
VANCOUVER
orbitdesign wrote: It is a huge deal but I just meant, as I believe I stated, that it's not the biggest deal for people just starting out. I wouldn't go with WS to start but based on fees, but I see no issue with new people buying some coins on an exchange and staking them there to get used to it. Once they have amassed more, for sure, take control and move them out to a wallet you control. For new users to crypto, even moving coins between wallets can seem daunting.
yes, good point and I agree with you. It's also much safer to have professionals deal with securing the crypto. Holding your crypto is important but doing it securely is a must.

For people starting out it may even better to invest in a crypto ETF (BTCC, EBIT, BTCX, etc). That way you can still get exposure to crypto with the benefits of CDIC protection and the possibility to have your investment in a tax sheltered/free account.
Deal Addict
Apr 10, 2017
2849 posts
1975 upvotes
Vitalogy80 wrote:
You're copying the investments of a YouTuber and think that's the key to riches?

Man, if this isn't the sign the stock market is bubble, I don't know what is.
Who says I was copying? Can you even read bro?

People just want to give their .02c in but also have 0 reading and comprehension Face With Tears Of Joy🤮
Jr. Member
User avatar
Apr 24, 2018
141 posts
222 upvotes
Ontario
how are people fine with using brokerages that charge absurd fees?? even questrade is a rip off when you look at how much they charge for options trading.

please make the switch to IBKR.
Sr. Member
Dec 12, 2003
834 posts
747 upvotes
Toronto
MarvelFan909 wrote: how are people fine with using brokerages that charge absurd fees?? even questrade is a rip off when you look at how much they charge for options trading.

please make the switch to IBKR.
Interactive Brokers (IBKR) seem to be the top choice for Canadian investors on Reddit
Deal Addict
Oct 28, 2015
2011 posts
1170 upvotes
Vaughan, ON
Can someone educate me over this promo? Literally you just transfer $1000 into their trading account and sitting for 180 days to receive $100?! I am currently with CIBC IE and dont intent to switch....
Jr. Member
Apr 25, 2009
114 posts
24 upvotes
GTA
I can't be quite sure by reading their terms - if you already have a Wealthsimple trade account, do you qualify for this?
Sr. Member
Oct 18, 2017
716 posts
1411 upvotes
New Brunswick
Vitalogy80 wrote: You're copying the investments of a YouTuber and think that's the key to riches?

Man, if this isn't the sign the stock market is bubble, I don't know what is.
He didn’t say that. He was saying some YouTuber was pulling from WS and just copying their investments.
Jr. Member
Aug 5, 2018
105 posts
465 upvotes
Oh Wealthsimple, they really need to do a better job differentiating products. Adding "Invest" helped, but even now this thread about Wealthsimple Invest is more than half arguments about Wealthsimple Trade or Wealthsimple Crypto...

This is like debating chicken nuggets in a thread about Big Mac discounts.
Deal Guru
User avatar
Jul 8, 2009
12258 posts
6058 upvotes
Not too bad my wife and i both have accounts we have been using since last christmas and we mainly use it for canadian stocks and alot of daily stuff.
No app issues and cant really beat the price compared to big banks.
ING Direct since the beginning! Tangerine to the end!
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Deal Addict
Nov 2, 2011
2965 posts
1515 upvotes
Been using wealthsimple trade since earlier this year for my TFSA - a couple etfs etc.
I think it's a pretty good app. it's quite simple to use.

I only invest in stocks on the TSX.
Sr. Member
Nov 30, 2011
579 posts
392 upvotes
xsx107 wrote: New customer only: deposit $1000 and get $100 bonus; slightly worse than previous deal which only required to deposit $500. Previous discussion can be found here

This deal can also be stacked with referral bonus of no management fee for $10k for one year, which is roughly equal to $50 dollar (probably plus tax) if you deposit $10k for a year (management fee is 0.5% for first $100k).

How I did:
1. Register using that link
2. After registration, deposit $1000 and you’ll get $100 shortly
3. Ask your family/friend for a referral code, and redeem it under Reward. Your family/friend will also get their referral bonus.

Some notes:
1. This is for Invest account only; cash and trade are not eligible
2. You need to keep $1000 for at least 6 months
Do I still qualify if I have a cash and trade account, but not an investment account, or do you have to be completely new?
Sr. Member
Nov 30, 2011
579 posts
392 upvotes
paolo-td wrote: I can't be quite sure by reading their terms - if you already have a Wealthsimple trade account, do you qualify for this?
Yup, that's what I wanna know...
Deal Addict
Nov 2, 2011
2965 posts
1515 upvotes
Pretty sure all of their platforms have a referral bonus.

If you use someone's referral, you can get 2 free stocks on wealthsimple trade app.
Deal Addict
User avatar
Apr 20, 2003
1671 posts
1865 upvotes
Markham
orbitdesign wrote: It is a huge deal but I just meant, as I believe I stated, that it's not the biggest deal for people just starting out. I wouldn't go with WS to start but based on fees, but I see no issue with new people buying some coins on an exchange and staking them there to get used to it. Once they have amassed more, for sure, take control and move them out to a wallet you control. For new users to crypto, even moving coins between wallets can seem daunting.
WealthSimple you can't take your crypto out. You can only buy and sell their crypto on their platform. There is no moving crypto to/from a wallet, offline or online on another exchange. The only way to "move" your crypto is to sell it for cash in WS, withdraw that money, then re-buy it on another exchange..



Bah weep granah weep nini bong
HEAT: Link!
Jr. Member
Sep 18, 2010
184 posts
155 upvotes
Canada
Through Invest can I select it to only trade Canadian stocks? Or is that only managed through a Trade account
Deal Addict
User avatar
Aug 16, 2004
2317 posts
1120 upvotes
Toronto
As a diyer I’m offended at a 0.5 or even 0.4 percent management fee.
The guy who said WS is scam is right.
LRT: Let's Ruin Toronto

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