Best Brokerage Account Promotions in Canada 2021

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by Enoch Omololu


Advertiser Disclosure

If you are looking at opening a new brokerage or investment account, the promotional offers below mean you won’t have to start from ground zero.

Like the best credit card deals or new bank account promotions, these new brokerage account promos can fetch you a few bucks to hundreds of dollars in bonuses.

In addition to the free money, some of these platforms also beat their competition on fees which means you continue to save money over time.

New Brokerage Account Promotions

The brokerage accounts below allow you to trade a variety of investments products including stocks, bonds, ETFs, options, and more.

They also offer welcome bonuses or incentives.

1. Questrade Bonus

Offer: Get $50 in free trades when you open a new account and fund it with at least $1,000. This offer is ongoing and has no end date.

Questrade is one of the most popular brokerage platforms in Canada with more than $25 billion in assets under management.

If you are serious about DIY-investing, Questrade allows you to invest using stocks, ETFs, options, FX, GICs, bonds, new issues, and precious metals.

It also has a competitive fee schedule and free ETF purchases.

When you move your investment account to Questrade, your transfer fees are waived up to $150.

Learn more about Questrade.


2. Qtrade Promo Code

Offer: Get a $50 cash bonus when you open a registered investment account (RRSP, TFSA, or RESP) and set up monthly contributions of at least $200. This promotion runs until March 1, 2022.

Qtrade is a top Canadian brokerage platform offering access to stocks, ETFs, options, mutual funds, bonds, and GICs.

It is owned by Aviso Wealth, an investment firm with more than $95 billion in assets under administration.

When you move your investment account from another bank to Qtrade, they cover the transfer fees up to $150 if the value is $15,000 or more.

Learn more about Qtrade in this review.


3. Wealthsimple Trade Promotion

Offer: Get a $50 cash bonus when you deposit and trade at least $150 worth of stocks or ETFs.

Wealthsimple Trade is a free stock trading app that allows you to trade thousands of Canadian and U.S. Securities. In addition to commission-free trading, it has no minimum account balance requirement for new users.

You can choose to invest using a TFSA, RRSP, or non-registered investment account.

New Trade clients get a chance to win free stocks valued at up to $4,500*. Check the website for terms and conditions.

You can also get up to $150 waived in transfer fees when you move over an account from another financial institution.

Read our review of Wealthsimple Trade and what it offers.


4. CIBC Investor’s Edge Promotion

Offer: Open a new CIBC Investor’s Edge account and get up to $2,000 cash back. This offer runs until March 1, 2022.

The higher the funds you transfer in, the more you get in cash back as follows:

Account AssetsCash back
$10,000 – $24,999$50
$25,000 – $49,999$100
$50,000 – $99,999$200
$100,000 – $499,999$500
$500,000 – $999,999$1,000
$1 million+$2,000

Trading fees for CIBC fees are some of the lowest for a big-five Canadian bank-owned brokerage platform.

Learn more in this CIBC Investor’s Edge review.


5. BMO InvestorLine Promotion

Offer: Get up to $2,000 when you open a new account and fund it as follows:

$50,000 – $99,999$100
$100,000 – $249,999$200
$250,000 – $499,999$450
$500,000 – $999,999$950

Use the promo code SDCASH2000 to redeem your offer.

This BMO InvestorLine offer runs from November 1, 2021, to December 31, 2021. You must deposit cash into the promotion account no later than January 31, 2022.

Cash back rewards are paid out the week of August 15, 2022. Get more details.

The trading fees on BMO InvestorLine are significantly higher than what you would pay on Questrade or Wealthsimple Trade.

You can get more details about how the platform works in this BMO InvestorLine review.

6. HSBC InvestDirect Promotion

Offer: 60 days of commission-free trading up to a maximum of 60 trades.

HSBC InvestDirect is a division of HSBC Securities (Canada) Inc. It offers TFSA, RRSP, RESP, LRSP, RRIF, corporate, and personal non-registered accounts.

If you get paid in foreign currencies, this platform supports 10 different currencies.

Its trading fees are average, ranging from $4.88 to $6.88 per trade for stocks and ETFs.

The HSBC InvestDirect promo offer runs from October 1, 2021, to December 31, 2021.

Here’s an in-depth review of HSBC InvestDirect.

Discount broker promotions in Canada often include offers from the likes of TD, Scotiabank, CIBC, and RBC. While they do not appear to have active offers currently, you can learn about them in the links below:

Investment Account Promotions in Canada

A robo-advisor or online wealth manager takes the hassle out of investing. They automatically invest your money using low-cost ETFs and rebalance it when needed.

These platforms also help you figure out stuff like dividend re-investing, tax-loss harvesting, portfolio customizations, and more.

Below are some of the best robo-advisor promotions in Canada.

7. Wealthsimple Invest Promo

Offer: Get a $75 cash bonus when you open an account and deposit $500 or more.

Wealthsimple is Canada’s most popular robo-advisor with more than $10 billion in assets under management.

It uses time-tested Nobel Prize-winning investment strategies to manage your portfolio and cuts your fees by investing with ETFs.

You can open various accounts including TFSA, RRSP, RESP, RRIF, LIRA, personal non-registered, and business investment accounts.

I have reviewed Wealthsimple in detail.


8. Questwealth Portfolios Promotion

Offer: Invest up to $10,000 free for 1 year. When you open a Questwealth account, using our exclusive link, you don’t pay management fees for 1 year.

Questwealth is the managed investment service offered by Questrade.

This platform has one of the lowest fees for robo-advisors at 0.20% – 0.25%.

As with Questrade, you need a deposit of at least $1,000 to invest with Questwealth and take advantage of the promotional offer.

Read our Questwealth review for more information.


National Bank Direct Brokerage Promotion**expired

Offer: Get 100 free transactions when you open an account and enter the promo code “Free2021”. This offer runs from March 15, 2021, to September 30, 2021.

National Bank Direct Brokerage is the brokerage arm of Desjardins Group.

It offers several investments including stocks, options, new issues, Treasury Bills, structured notes, and bonds.

This platform recently removed trading commissions for ETFs and stocks.

Read our National Bank Direct Brokerage review.

Hottest Promotions this month

Free reloadable prepaid card.

Earn 0.50% cash back on all purchases and up to 5% at select partners

Save automatically and earn 1.20% interest on your balance.

Get 3-day early access to $100 of your paycheque when needed.

No monthly fees or obligations.

Free credit scores and reports are updated weekly.

Access to DIY credit monitoring to check for identity fraud.

First Canadian company to offer free credit scores.

Only commission-free stock and ETF trading platform in Canada.

$0 trading commissions on thousands of products.

$50 cash bonus when you fund and trade $100 or more.

Free stock bonuses are available up to $4,500*.

1.25% interest rate on your savings account.

Up to 125x more earnings than other banks.

No monthly account fees; fast and easy online sign-up.

Free and unlimited bill payments and Interac e-Transfers.

Retirement 101 eBook - 3D


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Enoch Omololu

Enoch Omololu is a personal finance expert and a veterinarian. He has a master’s degree in Finance and Investment Management from the University of Aberdeen Business School (Scotland) and has completed several courses and certificates in finance, including the Canadian Securities Course. He also has an MSc. in Agricultural Economics from the University of Manitoba and a Doctor of Veterinary Medicine degree from the University of Ibadan. Enoch has a passion for helping others win with their personal finances and has been writing about money matters for over a decade. His writing has been featured or quoted in The Globe and Mail, Winnipeg Free Press, Wealthsimple, Financial Post, Toronto Star, Credit Canada, MSN Money, National Post, CIBC, and many other personal finance publications.

His top investment tools include Wealthsimple and Questrade. He earns cash back on purchases using KOHO, monitors his credit score for free using Borrowell, and earns interest on savings through EQ Bank.

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