Looking for companies giving away free stocks in Canada? Your options are pretty limited.
South of the border, Americans can get free stocks when they sign up for trading apps like Robinhood, Moomoo, Webull, and Public.com.
In Canada, Wealthsimple Trade used to offer free shares but now offers a cash bonus you can use to purchase shares of your favourite company’s stock or ETFs.
Featured Offers
Questrade
On Questrade’s website
- Trade stocks, ETFs, bonds, options, mutual funds, currencies, etc.
- $50 free trade credit when you deposit $1,000 or more.
- Access to advanced charting and trading tools.
- Transfer fees are waived by up to $150.
Wealthsimple Trade
On Wealthsimple’s website
- Trade thousands of US and Canadian stocks and ETFs commission-free, plus crypto.
- $25 bonus when you sign up and deposit $150 or more.
- Track stocks easily with a watchlist and set alerts.
- Transfer fees are waived by up to $150.
How To Get Free Stocks in Canada
The following discount brokerages offer cash bonuses or rebates you can use for free stocks.
- Wealthsimple Trade: Up to $3,000 cash bonus.
- Questrade: $50 trade credit.
- Qtrade: $50 bonus.
- Interactive Brokers: $200 referral bonus.
1. Wealthsimple Trade (Up to $3,000 Cash Bonus)
Wealthsimple Trade is the best free stock app for beginners. It offers no-commission trading for stocks and ETFs and has no minimum deposit requirement.
With its fractional share trading feature, you can buy small portions of expensive stocks if you are investing on a budget.
How To Get Free Stocks on Wealthsimple
Open an account here or use the promo code E0U3RG. Link your bank account and deposit any amount. You can also transfer investments you have at a different bank.
Wealthsimple gives you between $5 and $3,000 in cash to invest in stocks or crypto.
You can earn even more cash bonuses and free stocks by referring your friends.
Pros of Wealthsimple
- Commission-free trading.
- User-friendly apps for iOS and Android.
- Easy to qualify for free stocks.
- Offers fractional shares.
- No minimum deposits.
- Access to managed investing, options, and a free prepaid card.
Cons of Wealthsimple
- There is a subscription fee for real-time data.
- Does not offer bonds, GICs, or mutual funds.
2. Questrade ($50 Trade Credit)
Questrade is the top discount brokerage in Canada for stocks, bonds, ETFs, options, and other investment assets.
If you want to day trade or need access to advanced charting tools or paper trading, this platform ticks almost all the boxes.
How to Get Free Stocks on Questrade
Unlike Wealthsimple, Questrade does not give you cash to buy free shares. Instead, after signing up, you get a $50 trading credit, which saves you on commissions.
You can use this fee rebate to buy more stocks. To qualify, you must fund your account with at least $1,000.
Pros of Questrade
- Commission-free trading for ETF purchases.
- Invest in a variety of securities.
- Access to advanced trading tools.
- Additional private insurance.
- Mobile and desktop apps.
Cons of Questrade
- Stock trading is not commission-free.
- $1,000 minimum is required to invest.
Visit Questrade to open an account (or use promo code SAVVY50).
3. Qtrade (Up to $150 Bonus)
Qtrade is a popular online stock trading platform with mobile and desktop applications. It is a part of Aviso Wealth.
This platform offers access to stocks, mutual funds, ETFs, bonds, options, and more.
How To Get Free Stocks on Qtrade
When you open a new Qtrade account and fund it with $1,000 or more, you receive a $50 to $150 bonus. This offer is available until October 31, 2023.
Open three eligible accounts and fund them with at least $1,000 each to receive $50 you can use to purchase free stocks.
You must also complete at least one trade within 60 days of account opening.
Pros of Qtrade
- Access to multiple investments.
- Has some commission-free ETFs.
- Excellent customer service.
- Access to useful trading tools.
Cons of Qtrade
- Quarterly inactivity fee for small accounts.
- Does not offer commission-free stock trading.
Visit Qtrade to open an account.
4. Interactive Brokers ($200 per referral)
Interactive Broker’s free shares offer is not available to residents of Canada. That said, you get a $200 referral bonus for each client you refer using your IBKR referral link.
You can refer up to 15 people each year and up to 30 people in total. Overall, this means you can score up to $6,000 to buy stocks.
In some countries, your referrals receive $1 in IBKR shares for every $100 they have on the platform (and up to $1,000 worth of IBKR shares).
Learn more about Interactive Brokers.
FAQs
In Canada, you can get a sign-up bonus when you sign up for Wealthsimple and use this to purchase free stocks. In the US, you can get free stocks from Robinhood, Webull, or Moomoo.
Wealthsimple offers fractional shares, which you can buy for as low as $1. Alternatively, you can buy some penny stocks for under $1.
A zero-commission broker like Wealthsimple Trade allows you to invest in the stock market without paying trading fees.
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