Wealthsimple Referral Code – Updated November 2022
If you need a Wealthsimple referral code to cash in on their offer of 2 free stocks, then feel free to use ours! Our Wealthsimple referral code is FFK19G. Our Wealthsimple Invest referral code is TYIDLA. We’ll go through what both of these codes offer in the article below.
What is Wealthsimple?
Wealthsimple is a Canadian company that offers several financial services on a primarily digital platform. Wealthsimple Trade, Wealthsimple’s financial asset trading platform, allows you to buy and sell stocks, exchange-traded-funds (ETFs), as well as Crypto.
Wealthsimple also offers an automated investment service called Wealthsimple Invest & Save. This service will collect information on you such as your age, the date you’re expecting to need the funds, and your risk tolerance. With this information, Wealthsimple Invest & Save will automatically build you a portfolio of assets and rebalance it occasionally.
Lastly, Wealthsimple also offers Wealthsimple Tax, a free and intuitive tax system for filing a personal Canadian return. Having just used it for my 2021, I can honestly say this was the best program I’ve ever used. It even allowed me to easily import my forms from my other Wealthsimple accounts, and it was completely free!
Wealthsimple Trade Features
Wealthsimple Trade is Wealthsimple’s DIY investing platform. You can invest in stocks, ETFs, and more. There’s even a premium account if you’re looking for a bit more features and better commission prices.
Commission-Free Trading
Trades you file on Wealthsimple Trade aren’t subject to any commission, which means you can save up to $8.75 per transaction if you switch from a platform like Qtrade.
Overall, this is an amazing feature that’s hard to ignore. Once you start making trades without paying commissions, you’ll have a hard time going back. I know I did.
No Monthly/Quarterly Account Fees
In addition to having no trading fees, Wealthsimple has no monthly or quarterly account maintenance fees. This is beautiful since Qtrade was charging me $26.25 every 3 months despite the fact that I wasn’t very active in my account.
Fractional Shares
Wealthsimple allows you to buy fractional shares so that you don’t need to buy entire units. This is great because a lot of the best stocks and ETFs have high price points that make them inaccessible to a lot of people.
For example, if you want 1 share of VOO (a popular ETF), it will cost $340 at the time of writing this. Fractional shares mean you can buy 1/2th, 1/5, or even 1/10th of a share. It’s up to you.
Wealthsimple Referral Code (Trade) — FFK19G
When you sign up for a personal Wealthsimple Trade account while using a Wealthsimple referral code, you’ll earn the cash value of two random stocks. It will need to be a non-registered account to qualify (like a Cash or Crypto account), so a TFSA or RRSP is not eligible. The stocks will have a value of $5-$4500 with an average of $15.
This means that on average, you can expect to earn $30 by signing up with our Wealthsimple Referral Code (FFK19G).
Once you finish signing up, you’ll receive the cash bonus in your account within 24 hours. Due to local laws in Quebec, residents of Quebec will receive a flat $20 or more.
Wealthsimple Invest Features
Wealthsimple Invest is a robo-advisor service that offers users a hands-off approach to investing. With Wealthsimple Invest, you can invest your money without having to worry about the day-to-day management of your investments. Instead, Wealthsimple will do all of the work for you, including automatically rebalancing your portfolio as needed. It’s not a great platform for day trading or trading options, but it’s great for long-term investors.
Personalized Asset Allocation
Even though it’s automated, Wealthsimple Invest is able to customize your portfolio to meet your goals and risk level. When you first sign up, you’ll fill out a questionnaire and answer questions about your income, risk tolerance, when you’ll need the money, and more. This allows the platform to offer users a targeted approach rather than a blanket investment strategy.
Automatic Rebalancing
One of the great things about Wealthsimple Invest is that the platform will automatically rebalance your portfolio as needed. This means that you never have to worry about your investments getting out of alignment with your goals.
Tax-Loss Harvesting
Tax-loss harvesting is a strategy that can help you minimize the amount of taxes you owe on your investment gains. With Wealthsimple, tax-loss harvesting is done automatically and behind the scenes, so you don’t have to worry about it.
Performance Monitoring
Another great feature of Wealthsimple is performance monitoring. With this feature, you can see how your investments are performing at any time. This information can be helpful in making decisions about when to buy or sell investments.
Wealthsimple Referral Code (Invest) — TYIDLA
Wealthsimple Invest has a referral program for new customers. If you use a Wealthsimple referral code, you’ll get your first $10,000 managed for FREE. This means that you can test the platform entirely free, which is great for people who are just starting out with investing.
Wealthsimple Crypto Features
Wealthsimple Crypto is a new platform from Wealthsimple that allows you to invest in cryptocurrencies like Bitcoin, Ethereum, and a few dozen other projects. You can deposit your funds and buy and sell these cryptocurrencies directly through the platform with very minimal fees — between 1-2% of each transaction.
Low Trading Fees
Wealthsimple Crypto takes a 1-2% cut of each transaction they process. This is pretty standard across crypto platforms and isn’t something that can be easily avoided.
Transfer Crypto In & Out
As of 2022, you’re allowed to transfer many cryptocurrencies between your Wealthsimple Crypto wallet and your wallet on another platform. This is awesome, because buying crypto on Wealthsimple is super easy and fast, and then you can transfer wherever you need afterward.
Staking
Wealthsimple is one of the first big investing platforms to allow you to stake your cryptocurrency. ‘Staking’ is where you essentially lock up your crypto in exchange for a fixed yield. It’s similar to buying a GIC, or a fixed-income financial asset, but it happens on the blockchain.
Insurance
One of the benefits of using Wealthsimple Crypto is that your cryptocurrency investments are protected by insurance. This means that if something happens to your Wealthsimple Crypto account, your investment is protected up to $500,000 CAD.
Wealthsimple Referral Code (Crypto) — FFK19G
Wealthsimple’s Crypto referral program is the same as its Trade referral program, so, unfortunately, a Wealthsimple crypto referral code is the same as a Wealthsimple referral code for the Trade platform. You’ll get a Wealthsimple free stock or the cash value of 2 randomly selected stocks. See the Wealthsimple Trade section above for more details.
Wrapping Up
Wealthsimple is a great investing platform for Canadians, and there are two great referral bonuses available. You can get some free cash for opening your Trade account with a Wealthsimple referral code, and you can invest those funds in a managed account by opening your Invest account with another Wealthsimple referral code.
The platform is very safe and reputable and has some of the lowest fees you’ll find for similar services in Canada.
If you’re looking for other banking promos that you can cash in on, check out our article on how you can get $400 in bonuses by opening a Tangerine account with a Tangerine Orange Key.
And, if you’re looking for other ways to make money online, check out our Hustles directory. We’re working hard to index hundreds of ways to make money online, and there’s something for everybody. You can learn to invest in cryptocurrency, invest in peer-to-peer lending, or even day trade.
Whatever you choose, remember — there are more ways to make money than ever before. Get creative, find something that works for you, and get after it!
Happy hustling!
