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Apps That Give Free Stocks For Signing Up (Free Shares)

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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

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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

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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.

1. Qtrade (Up to $2,000 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 $2,000 bonus (the higher your deposit, the more you earn). The $2,000 offer is available until March 4, 2024 (otherwise only $50).

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.

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.

3. Wealthsimple Trade (Up to $250 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 $250 in cash to invest in stocks or crypto, depending on how much you deposit in your account.

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.

Open a Wealthsimple 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

Where can I get free stocks?

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.

How can I buy stocks for $1?

Wealthsimple offers fractional shares, which you can buy for as low as $1. Alternatively, you can buy some penny stocks for under $1.

Can you invest in the stock market for free?

A zero-commission broker like Wealthsimple Trade allows you to invest in the stock market without paying trading fees.

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Editorial Disclaimer: The investing information provided here is for informational purposes only and is not intended as individual investment advice or recommendation to invest in any specific security or investment product. Investors should always conduct their own independent research before making investment decisions or executing investment strategies. Savvy New Canadians does not offer advisory or brokerage services. Note that past investment performance does not guarantee future returns.

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Author

Gravatar for Enoch Omololu, MSc (Econ)
Enoch Omololu, MSc (Econ)

Enoch Omololu, personal finance expert, author, and founder of Savvy New Canadians, has written about money matters for over 10 years. Enoch has an MSc (Econ) degree in Finance and Investment Management from the University of Aberdeen Business School and has completed the Canadian Securities Course. His expertise has been highlighted in major publications like Forbes, Globe and Mail, Business Insider, CBC News, Toronto Star, Financial Post, CTV News, TD Direct Investing, Canadian Securities Exchange, and many others. Enoch is passionate about helping others win with their finances and recently created a practical investing course for beginners. You can read his full author bio.

About Savvy New Canadians

Savvy New Canadians is one of Canada's top personal finance platforms. Millions of Canadians use our site each year to learn how to save for retirement, invest smartly, maximize rewards, and earn extra cash. We have been featured in prominent finance media, including Forbes, Globe and Mail, Business Insider, CBC, MSN, Wealthsimple, and TD Direct Investing. Learn more about Savvy New Canadians.

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