If you are looking to start your investing journey in Canada, this article will be very helpful for you. Even if you already are an investor, you might want to consider starting an investment portfolio with Wealthsimple Trade. Not only do we recommend this investing platform for you, but also give you the opportunity to win 2 free stocks valued up to CA$4,500 each!

We have talked about the Canadian stock trading platform Wealthsimple Trade before, too. Not only do we talk about it, but my personal investing account and the Tax-Free Savings Account (TFSA) are both held on Wealthsimple Trade. You can find my dividend investing journey here. I have used Wealthsimple Trade for a year now, and could not be happier with them.

As a newcomer to the Wealthsimple family, I joined the platform through someone else’s referral code and received $10 as a bonus back in December 2020. Things have escalated since then.

Now, Wealthsimple provides TWO FREE stocks for new members joining through a referral code. These free stocks now carry a value of up to a massive CA$4,500, each! Essentially, for someone really really lucky, they could win an instant CA$9,000 (appx. US$7,100).

How to win 2 FREE stocks valued up to CA$4,500

1. Head over to Wealthsimple Trade using this referral link (click here)
2. Enter an email address and a password of your choice and click ‘Get Started’
3. You will receive an email in the email address you provided with a confirmation link (find the email and click on this link to verify that you own the email)
4. Once you head back to Wealthsimple Trade browser or app on the phone, they will ask for some information to set up your account (personal information, employment information, and your SIN).
5. Go ahead and provide these information (Yes, it is safe)
6. You will come across a few agreements that you have to accept, go ahead and read these and confirm if you do agree.
7. You will be asked to connect your bank account (for deposits and withdrawals), do this too.
8. Deposit $100
9. Receive 2 free stocks as your welcome bonus!

Wealtsimple Trade will actually award you the cash equivalent of the stocks you win (as opposed to giving you the actual stock ownership). This is better as you can use this bonus money to invest in whatever stocks you want.

What are your chances of winning a $4,500 stock?

Very low!

Wealthsimple Trade says the following about your odds of the stocks you can win;

“The free stock bonus has a value of between CAD$5 and CAD$4500 with an average of CAD$20 and ~90% of clients receiving less than CAD$50 based on the stock value at the time of selection. The free stock bonus is calibrated to these values on a regular basis but remains subject to market movements.”

So, on average, you can win two stocks of around CA$50, which is going to be around CA$100 for FREE.

Something is better than nothing!

We highly encourage you to test your luck with these free stock gifts when you decide to open a new investment account with Wealthsimple Trade.

Can you transfer your investing account from a different platform to Wealthsimple Trade?

Absolutely. But this will not qualify as you opening a new account. To receive these free stock bonuses, you have to open an account through a referral link. So, if you want to receive the free stocks, you might have to dissolve your investments in your existing platform and start a new account with Wealthsimple Trade with that money re-invested through Wealthsimple Trade.

Your personal situation might be different from what is described in this article. So, if you have any questions, don’t hesitate to drop a comment below.