Wealthsimple Referral Code (Feb 2024) + $50 Bonus

December 2, 2022
Blog

Wealthsimple, also known as Wealthsimple Invest, is one of the products Wealthsimple offers, along with Crypto, Cash, and Trade. Wealthsimple is Canada's largest robo advisor and it includes features such as no-minimum investments, a highly-rated app, very low fees, and open access to financial advisors on-demand.

Wealthsimple has a referral program for new users: you will receive a $50 sign-up bonus when you use our referral link or our promo code YOREOYSTER and fund your account with at least $500. You will also unlock your referral code, which you can share with your friends to earn an additional $50 when they fund their accounts.

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How To Use Your Wealthsimple Invest Referral Code

Wealthsimple Invest has a referral program for new investors. When you sign up using our referral link (or our referral code YOREOYSTER), you will receive a bonus of $50 after you fund your account for a minimum of $500. On top of that, you will receive your referral code so you can start referring your friends and earning $50 for each successful referral.

To use the promo code:

  • Visit Wealthsimple‘s website. Click on Get Started
  • If you already have a Wealthsimple account, you can log in. Otherwise, enter an email address and create a password.
  • Fill in some of your basic information.
  • Link your bank account to your Wealthsimple Invest account.
  • Fund your account.

What Is Wealthsimple Invest?

Wealthsimple Invest is Wealthsimple’s flagship product. Wealthsimple Invest, also known simply as Wealthsimple, is Canada’s largest robo advisor; it's an investment platform that seeks to simplify and automate the investing process and achieves this by using computer algorithms. In short, Wealthsimple invests your money for you – primarily in ETFs and stocks with a decent track record (not in penny stocks or other riskier assets).

You will be prompted to fill out a quick questionnaire to get an idea about your investment goals, risk tolerance, and investment horizon. Based on that information, the algorithm will decide what long or short-term positions to put your money into.

Wealthsimple Invest Features

Some of the best Wealthsimple Invest features are:

  • No minimum investment.
  • The app is available in Google Play and the App Store.
  • Offers three types of portfolios based on your risk tolerance.
  • Automatic portfolio rebalancing.
  • Access to SRI and Halal compliant portfolios.

Additionally, Wealthsimple provides financial advisors on demand to all of their clients.

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Wealthsimple Invest Fees

There are three types of Wealthsimple Invest accounts. Here are the yearly fees you can expect:

  • Basic (balance under $100,000): 0.5%/year
  • Black (balance over $100,000): 0.4%/year
  • Generation (balance over $500,000): 0.4%/year
  • SRI fees & Halal portfolios: 0.25% – 0.40%/year
  • ETF fees (MER): 0.1% – 0.2%/year

How To Sign Up With Wealthsimple Invest

#1 Visit Wealthsimple‘s page. Click on the Get Started button. 

#2 If you already have a Wealthsimple account you can log in. Otherwise, enter an email address and create a password.

#3 Fill in some basic information like name, email, phone number and address.

#4 Select a bank account and link it to your Wealthsimple Invest account.

#5 The last step is to fund your account. Wealthsimple will take care of investing your money safely with its robo advisor.

Wealthsimple Invest’s Referral Program

Similar to other brokers and investment platforms like Questrade, after creating and funding your Wealthsimple Invest account, you will receive your referral link. You can find it in the referral section of your profile. Once you have your code:

  • Share your code via text, email, or your social media audience.
  • Once a referee signs up using your referral link and funds their account with at least $500, you both will receive $50 deposited to your accounts. 
  • There’s no limit to how many people you can invite. 

For each friend you refer who joins through your referral link and funds their account, you will get $10,000 in assets managed for free for 12 months. Your referee will also get $10,000 in assets managed for free for 12 months.

Is Wealthsimple Safe & Legit?

Yes, Wealthsimple is totally safe and legit. All funds held in any Wealthsimple account are regulated, protected and insured for up to $100,000 by the CDIC.

In Summary

Wealthsimple Invest is one of the products Wealthsimple offers, along with Crypto, Cash, and Trade. Some of Wealthsimple Invest’s best features include its no-minimum starting investments, highly-rated app, competitively low fees, and open access to financial advisors on-demand; it is no wonder Wealthsimple has stayed so long at the top of the Canadian robo advisors.

Wealthsimple has a referral program for new users: you will receive a $50 sign-up bonus when you use our referral link or our promo code YOREOYSTER and fund your account with $500. You will also unlock your referral code, which you can share with your friends to earn an additional $50 when they fund their accounts.

Cryptocurrency Signup Bonuses In Canada

  • Bitbuy: $50 bonus after depositing $250 or more
  • Newton: $25 bonus after depositing $100 or more
  • VirgoCX: $20 bonus after depositing $100 or more

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