- Reader Case: From Cancer Survivor to FIRE - September 1, 2026
- The FIRE Guide to America’s Health Care System (2026) - July 7, 2026
- Planting Your Money Trees - February 23, 2026
FIRECracker and I have been using Questrade as our brokerage for many years now and for most of that time, it’s been the undisputed king of the Canadian discount brokerage market.
That being said, we’ve also watched the rise of upstart Toronto-based fintech WealthSimple with much interest. They started off as a slick robo-advisor platform and have since branched out to tax software, crypto, and now DIY investing.
This expansion has been driven by two strategies: Aggressive cutting of trading commissions/fees on their self-directed investing platform and generous transfer offers to entice people over to come over to their platform.
While I’ve never seriously considered moving my accounts to WealthSimple (it would be a TON of paperwork that I don’t have time for anymore), I will always appreciate WealthSimple’s contribution to the Canadian low-cost brokerage scene because they’ve forced other companies to become more competitive.
Questrade used to offer free buying of stocks and ETFs (you had to pay to sell), but now they’ve eliminated trading commissions completely on stocks, ETF’s, and even some options. Exchange fees appear to have gone away as well, which has basically dropped the fees I pay to manage my portfolio down to almost $0. It still costs $9.95 to perform a Norbert’s Gambit, but I do those maybe once or twice a year, so the cost is miniscule.
They’ve also started running cash-back promotions as well, one of which is running right now.
4% Cashback
This current offer is for up to 4% cashback on amounts that you transfer into Questrade.
Right now, this is the most generous transfer promotion running, so if you’re thinking about using Questrade, now is the time to do it. Here’s how it works.
This offer is available to new and existing Questrade clients, so you don’t have to be a completely new user to sign up. The sign up process is a little different for each, though.
For new clients (or existing clients opening up a new account), you have to use the code QT4CASHBACK when you open the account. If you already have an account, you can still activate this offer by clicking on the “Rewards” tab to the left of your Questrade dashboard (looks like a gift box).
There are some stars and asterisks. The baseline cashback offer is 1% for registered accounts, 2% for non-registered. These bonuses double up when you are transferring $10,000 each for 3 separate Questrade accounts, one of which has to be non-registered. For example, if you transfer at least $10,000 each in an RRSP, TFSA, and non-registered account, your cashbacks would double to 2% for the registered accounts and 4% for the non-registered.
You should also know that there is a maximum cap to the amount of cashback that you can earn. This cap is $10,000 for the registered accounts, and $10,000 for the non-registered accounts. This means that there’s a total potential cashback of $20,000, and would require you to transfer $500,000 in registered assets and $250,000 in non-registered.
For more details on this offer (and to review the fine print), here’s Questrade’s page on it.
If you were thinking of switching, now is a great opportunity to do it, as this is the most generous transfer offer I’ve seen to date, and it’s with a company I trust and have had great experiences with, which is why I wrote our Investment Workshop using Questrade as the brokerage platform. Offer is available until Feb 2.
If you do, please use our affiliate link to open an account so we can keep writing this blog and keeping all the information on it free. That would be awesome.
Have you taken advantage of any of these cashback transfer offers recently? How was your experience? Let’s hear it in the comments below!
Hi there. Thanks for stopping by. We use affiliate links to keep this site free, so if you believe in what we're trying to do here, consider supporting us by clicking! Thx ;)
Build a Portfolio Like Ours: Check out our FREE Investment Workshop!
Travel the World: Get flexible worldwide coverage for only $45.08 USD/month with SafetyWing Nomad Insurance
Multi-currency Travel Card: Get a multi-currency debit card when travelling to minimize forex fees! Read our review here, or Click here to get started!
Travel for Free with Home Exchange: Read Our Review or Click here to get started. Please use sponsor code kristy-d61e2 to get 250 bonus points (100 on completing home profile + 150 after first stay)!
I also believed there would be lot’s of paperwork involved but I could not have been more wrong. My wife and I each moved three accounts from Questrade to Wealthsimple for the transfer bonus last year and it took us 2 hours in total. These platforms want your money and they’ll hold your hand and do as much of the work as possible. We will transfer back to Questrade to take advantage of their transfer bonus. If you and your partner can max the bonus, it’s worth $40k paid out over 24 months (with an unpaid hold period until June 2026).
I’m willing to jump through some flaming hoops for $40k, thankfully, transferring accounts is about as difficult as booking an appointment at my dentist.
Great comment. I was going to ask he’s after the same thing, what is this “ton” of paperwork.
I also transferred to wealth simple, and I agree with you, it was really easy.
And very profitable.
Another thing to consider: you need to leave your money with Questrade for 24 months after the transfer to get the cashback.
Nope, you just don’t get the full value of the bonus if you leave early. The bonus is paid out monthly, if you leave early they don’t clawback earlier bonus payments.
Great comment. I was going to ask the same thing, what is this “ton” of paperwork.
I also transferred to wealth simple, and I agree with you, it was really easy.
And very profitable.
I’m interested in the promotional offer. My question is if my husband and I each transfer 500,000 from our joint non registered account as well as our rrsp and tfsa accounts will we each be eligible for the max 4% bonus on the non registered.
Hey Everyone!
This post got me super interested. I was thinking of switching from RBC to questrade anyway and it looked like this would seal the deal… until I checked out Wealthsimple.
Looks like they are running a similar promotion, but the cash back is 1, 2, or 3% cash back depending on if you’re willing to take a 12, 36, or 60 month pay schedule.
It maxes at 3% on $5M contributed for a total of $150,000 paid over 5 years. If you have enough invested to max out the questrade offer, this looks more lucrative to me.
I’m not familiar with wealthsimple, but would consider it even if it’s not quite as good as questrade just for this. Could always switch again later.
Anyone see any downsides here? Both are no fee trading. Wealthsimple is advertising they are launching Norbert’s gambit this year.
What am I missing? Thoughts?
To be honest if you got 5 mil to move around, it would be worth it to do both promotion…
The Questrade is really nice as the cashback is given within 24 months so payout per month is much higher plus holding time is much less. Margin accounts the bonus is 4% match for Questrade so you only have to deposit 250k to get full 4% match and 500k in any two of the following accounts, RRSP, TFSA, LIRA for full 2% match. Need to do this quick, as last promotion date is February 2 to initiate the transfer.
After that just put the rest in Wealthsimple for the 3% match of payouts for 60 months for 3% match. The only problem with Wealthsimple for the 3% match, it needs to transfer as in asset I think, it can’t be cash deposits as this won’t qualify for the 3% match.
Questrade has less restrictions, both transfer in assets and cash deposits works.
Hey Condo and Crypto
Thanks for the further insight. One thing I think useful… as far as I can tell, if cash is inside and investment account that is an institutional transfer, I think it counts (like you transfer you whole non-reg and there is some cas sitting there). I think they are saying cash deposits to existing WS accounts don’t count. I know the way they write it isn’t very clear but this is as best as I can determine.
If wanting to avoid this confusion you could always buy a cash or money market etf and sell it or keep it after it transfers. But I don’t think it’s necessary.
Hi Bryce/Wanderer, great post! Thank you so much! I really appreciate you breaking down your portfolio and being so transparent. It is really encouraging for my wife and I as we’re mid-way through our FI accumulation journey (we have reached $1 million but with 2 kids, we would like to have $2 million to generate the 4% that ensures it covers our total expenses). I understand that you have a portfolio B. Could you tell me what do you have invested in this portfolio? Much appreciated. Cheers!
Just saw an article in Toronto Life Magazine featuring you guys! So awesome!
I actually found the opposite with respect to paperwork. I opened a Questtrade account and was going through all the paperwork and found it a bit too much so bailed before adding money and went with Wealthsimple and found the paperwork was much easier. That was maybe 5 years ago, I’m sure things are different for both. Wealthsimple used to provide advisor services free for people with a certain amount of investments but just that away. I do like the tax services they have and banking/credit card in house. Its constantly evolving and who knows which is going to be better at any time, and I am sure it is very case dependent.
I recently put together a very minimalist site with ultra-short “nano banana” prompts that people seem to be having fun with (they’re weirdly effective for certain aesthetics). No login, no ads, just copy-paste prompts:
https://bananaprompts.fun
Hope it gives someone a laugh or at least one nice image
For someone who is just starting out in their investing journey QTrade currently has a promotion for the new accounts:
Fund the new account with 1000 cad and get 250 cad after 12 months. That’s 25 percent return, not bad.
Getting Over It drops players into a deceptively simple scene that quickly becomes a brutal mental challenge. Armed with only a hammer, you climb inch by inch, learning fast that patience and precision matter more than speed or strength.
Wanderer, you should consider the Wealthsimple offer. It’s actually more generous than the Questrade offer because it lets you transfer up to 5 million to qualify for the 3% match, giving you a cashback cap of up to 150k vs Questrade’s cap of 20k.
If you transfer $2 million in assets and choose the 3% match over 5 years, you’re looking at a 1k paycheck every month for the next 5 years. Plus you’ll hit Generation status after 500k in assets so any cash cushion in your Wealthsimple chequing account will make 2.25%. Let’s say you decide to keep 100k cash in your Wealthsimple chequing account – that’s another $187/month right there. Add that to your monthly bonus and you’re looking at $1,187/month, every month for the next five years!
In my experience it is much easier these days to set up a new brokerage account and transfer assets over from another financial institution. No boring paperwork required.
Yeah I’m surprised they wouldn’t consider the move to Wealthsimple at this point. It’s a lot of money and it would be the easiest money they’ve ever made.
this is a great comparison of the two platforms, especially with the new cash back offer. it definitely helps soothe that scritchy scratchy feeling of missing out on better returns elsewhere!
The cashback deal definitely looks tempting on paper. Whenever I’m mapping out financial steps or waiting on asset transfers to settle, spending some time on https://mostbetbd.asia/ has been a great way for me to completely unwind. Based on my experience, it’s a super smooth platform with a great mix of fast games and live sports action, making it a perfect go-to spot to take a quick break and clear my head.
Very informative article on Questrade’s cash back offer. For those interested in more financial tips and tricks, check out https://www.funboxie.com.
Questrade’s 4% cash back offer looks like a solid opportunity for users focusing on maximizing everyday spending rewards and long-term value. It’s always smart to compare such promotions with your overall financial goals before making any decisions. For more structured public records insights, Sandusky Case Search can help you explore detailed case-related information efficiently. Keeping track of reliable data sources alongside financial tools can improve decision-making and awareness. Overall, balancing rewards with informed research leads to more stable financial planning.
The 4% cashback offer from Questrade looks like a strong incentive for active users looking to maximize returns on everyday transactions. For those interested in exploring more structured financial or legal information resources, you can also review Alameda Court Records for additional reference material. Such comparisons often help in understanding how different systems manage records, transparency, and user access. Overall, combining financial benefits with reliable informational sources can improve decision-making efficiency.
Questrade’s 4% Cash Back Offer looks quite appealing for users who prioritize rewards and everyday transaction benefits. It’s still important to compare fee structures, eligibility rules, and long-term value before making any decision. For additional reference and structured public information, you can also explore Dallas Court Records while reviewing regional financial and legal data. Overall, balancing cashback incentives with transparent terms can help in making a more informed financial choice.
Cashback offers can be tempting, but it’s always worth reading the terms carefully and comparing the long-term benefits before making a tranfer Her Trees!
The idea of turning money into a decorative flower meadow is a clever way to make a practical gift feel personal and memorable for the couple. Use Reveedo AI Effects
The transfer process being easier than expected is a good reminder that these bonuses often sound more complicated than they actually are. Use Reveedo AI Video
The fact that these platforms handle most of the paperwork makes loyalty to any single brokerage feel less necessary these days. Use Reveedo Txet to Video
It is interesting how these transfer incentives have turned account switching into a routine financial chore, almost like comparing cell phone plans. Use Reveedo Image to Image
The fact that a couple can earn $40k just by moving accounts back and forth shows how competitive these platforms have become, but I wonder how much of that time and energy is really worth it once you factor in the holding period and the unpaid months. Use Reveedo AI Image Generator
It is interesting how the ease of moving accounts has turned these loyalty bonuses into a routine financial habit rather than a one-time decision. Use Reveedo AI Image Editor
A 4% cash back promotion sounds like a solid incentive on paper, but you really have to read the fine print on qualifying account transfers before moving large balances. Meeting all the multi-account criteria to unlock the maximum bonus takes a bit of planning, especially if most of your assets are already tied up in specific account structures. Navigating those steps can feel a bit like searching through official public portals like Queens Court Online where paying attention to specific requirements is essential. Still, if your portfolio setup naturally aligns with the criteria, taking advantage of the payout is a smart move. Just double-check your transfer timelines so exit fees from your current broker don’t eat into your final returns.