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4 Apps Giving Free Stocks, Trades and Cash in Canada!

George Sweeney, DipFA| Updated January 4th, 2023

Living in Canada and looking for free stocks and shares? Well, you’ve come to the right place. With a growing number of investment platforms and apps available to Canadian investors, there are a number of opportunities for you to snap up some free stocks and shares for your portfolio. 

To help you, we’ve compiled all the best free stock and bonus cash deals in Canada. With most Canadian brokers, they don’t offer free stocks and instead give you cash to spend on investments. Keep reading for a complete breakdown of the various promotions and bonuses available.

List of apps with free stocks, trades and cash in Canada

Brokerage Free stock/share promotion Requirements Link Terms and conditions
Questrade - Wikipedia Up to $2,000 cashback and a $50 bonus Sign up with promo code and transfer $5,000 Link More details
File:Wealthsimple 2015 logo.svg - Wikimedia Commons $25 bonus Open an account and fund with at least $150/$500 Link & Link More details & More Details
Qtrade Investor launches updated retail brand $50 in free trade credit Open an account and fund with a minimum of $1,000 Link More details
File:Interactive Brokers Logo (2014).svg - Wikipedia Up to $1,000 of free IBKR stock Per each $100 deposit, you get $1 of IBKR stock Link More details

List of Apps with Free Stocks, Trades and Cash in Canada

1# Qtrade (cashback and cash bonus)

Qtrade Direct Investing
Get your cashback bonus!

The promotion at a glance

Offer valueUp to $2,000 cashback plus a $50 bonus
Minimum deposit$1,000
Time to claim the offer after sign upN/A
Referral program

Part of Aviso Wealth, Qtrade is consistently reviewed as one of Canada’s leading options brokers. The platform offers a solid range of stocks, bonds, mutual funds, ETFs, and options. They pride themselves on their educational tools, catering to beginners and veterans.

Here’s how you can earn some free cash to spend on stocks with Qtrade:

  1. Sign up for Qtrade and open an account using this referral link.
  2. If you deposit your account with at least $1,000 by 31st March 2023, you’ll qualify for the $50 cash bonus.
  3. For Canadian investors who fund their account with over $5,000 – you’ll also qualify for extra cashback that’s based on the size of your deposit (details below).

For the $50 bonus, this will be deposited into your account on 30th April 2023. With the other cashback deal, you need to maintain a balance of at least $5,000 until 30th September 2023 and you’ll receive your free cash around 31st October 2023.

Here’s how much cashback you’ll get based on the amount you deposit into your account:

Free cash to spend on stocks Deposit amount
$2,000 $1 million +
$1,000 $500k – $999k
$700 $250k – $499k
$500 $100k – $249k
$250 $50k – $99k
$150 $5k – $49k

You can read the full terms and conditions here if you want to know more about this promotion from Qtrade.

List of Apps with Free Stocks, Trades and Cash in Canada

2# Interactive Brokers (free stock)

4 Apps Giving Free Stocks, Trades and Cash in Canada! 4
Get your frees shares!

The promotion at a glance

Offer valueUp to $1,000 worth of free IBKR stock
Minimum deposit$100
Time to claim the offer after sign up1 year
Referral program

Interactive Brokers is a US-based brokerage firm that operates some of the largest investment and trading platforms across the UK, Europe, America, and the rest of the world.

Follow these steps to get up to $1,000 worth of free IBKR stock:

  1. Sign up using this referral link and set up an individual or joint account. 
  2. For every $100 you deposit, you’ll earn $1 worth of free IBKR stock.
  3. You can accumulate more free stock throughout the first year, but you must maintain your average balance. 

Once you’re set-up, you can also earn additional cash bonuses by referring friends and family using your unique referral code, details on their website.

Want to know more about the Interactive Brokers free stock bonus? Check out our detailed guide explaining everything you need to know about the Interactive Brokers referral promotion.

List of Apps with Free Stocks, Trades and Cash in Canada

3# Wealthsimple (free bonus cash)

4 Apps Giving Free Stocks, Trades and Cash in Canada! 5
Get your free share!

The promotion at a glance

Offer value$25 free cash to spend on stocks
Minimum deposit$150
Time to claim the offer after sign up45 days
Referral program

Wealthsimple is a fintech company that offers commission-free stock trading with the ‘Wealthsimple Trade’ account and managed investment portfolios (like a robo-advisor) for a competitive price with ‘Wealthsimple Invest’. 

Here’s how you can get the Wealthsimple free cash to spend on stocks if you live in Canada:

  1. Sign up for a ‘Wealthsimple Invest’ account using this referral link or if you’d prefer a ‘Wealthsimple Trade’ account use this referral link.
  2. Make an initial deposit of at least $150 for the Wealthsimple Trade account or $500 for the Wealthsimple Invest account.
  3. If you’re transferring over $5,000, transfer fees of up to $150 will also be waived. 
  4. Once you have an account, you can refer friends to earn more bonuses!

You can read more about the Wealthsimple refer a friend scheme here and you can check out the terms and conditions for the other promotions by clicking through the referral links.

List of Apps with Free Stocks, Trades and Cash in Canada

4# Questrade (free stock trade credit)

4 Apps Giving Free Stocks, Trades and Cash in Canada! 6
Get Your Free Stock Credit!

The promotion at a glance

Offer value$50 free stock trade credit
Minimum deposit$1000
Time to claim the offer after sign upN/A
Referral program

Questrade is one of Canada’s fastest growing online brokerage platforms. Over 250,000 accounts are being opened annually and it has over $30 billion of assets under administration. It best serves Canadian residents who want to trade a balanced portfolio alongside options, foreign currencies, and precious metals.

Here’s how you can get free stock trade credit with Questrade:

  1. Open a new self-directed investing account using this referral link.
  2. Deposit at least $1,000.
  3. You’ll get $50 in free trades.
  4. Once you have an account, you can refer up to 30 friends and earn $50 for each person that opens an account. 

Read more about the refer a friend promo here and the details for the free stock trades is on the referral link. 

The bottom Line

There aren’t lots of free stock deals currently available in Canada. But there are a few decent promotions worth taking advantage of while they’re still running. If you’d like to know more about some of the platforms, you can check out our article on the best brokers for options trading in Canada.

A few of the brokerages described above also have referral programmes offering people in Canada cash or additional free funds to spend on stocks and shares! Let us know how you get on with these free Canada cash and stock bonuses in the comments below. 

Other FAQs about Free Stocks in Canada

Can you get free stocks with CIBC Investor’s Edge?

Unfortunately not. The company used to run a free cashback promotion but it expired. We’ll keep you updated with any new free cash or stock promos from CIBC Investor’s Edge.

Does TD Direct Investing give free stocks?

Sadly, no. There are currently no live promotions or free bonuses available for investors in Canada.

Can I get free stocks with National Bank Direct Brokerage?

No. The company did previously run a promotion allowing users 100 free transactions, but this deal has now expired.

Does HSBC InvestDirect have a free stock promotion?

No, it doesn’t. There used to be a promo offering 60 days of commission-free stock trading, but this deal was stopped and hasn’t been renewed. 

George Sweeney, DipFA
Contributor

George is a freelance writer and qualified financial advisor who focuses on educating others in personal finance and investing. His work has been featured on The Motley Fool, Finder, Freetrade, Yahoo Finance, MoneyMagpie, and Online Mortgage Advisor.‍

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