The Best Canadian Referral Bonuses in 2025

Canada has one of the most competitive referral bonus landscapes in the world. Banks, crypto exchanges, investing platforms, and even shopping apps are all competing for your sign-up — and many are offering serious cash just to get you in the door.

Whether you are looking to pad your savings, get started in investing, or earn rewards on your everyday purchases, there is a referral bonus out there that fits your situation.

Banking Bonuses

Canadian banks and fintech companies have some of the most generous new-customer offers around.

Wealthsimple consistently offers one of the highest bonuses in the space, with new clients able to earn cash back just for signing up and making a deposit. The platform also offers commission-free stock and ETF trading, making it one of the best all-around financial apps for Canadians.

Simplii Financial, backed by CIBC, offers up to $500 for new clients who open a No Fee Chequing Account, set up direct deposit, and apply for a credit card. It is one of the most stacked welcome offers in Canadian banking.

KOHO offers a cash bonus for new users who make qualifying purchases after signing up with a referral code. As a prepaid Visa card with no monthly fees, it is also a great way to build credit and earn cashback at the same time.

Investing Bonuses

If you are ready to start building your portfolio, several investing platforms will pay you to open an account.

Questrade is a Canadian staple. New users who sign up with a referral code get $50 in free trades — perfect for getting started with stocks and ETFs without commission costs eating into your returns.

Moomoo Canada, Canada's first AI-powered brokerage, offers up to $300 in rewards for new clients who open and fund an account. Moomoo is CIRO-regulated and CIPF-protected, making it a legitimate and powerful platform for both beginners and experienced investors.

Crypto Bonuses

The Canadian crypto space is maturing fast, and several regulated platforms are offering referral incentives.

Shakepay is arguably the easiest crypto app in Canada to get started with. Sign up with a referral link, buy $100 in Bitcoin or Ethereum, and both you and your referrer earn a cash bonus. Shakepay also offers the unique ShakingSats feature, where you shake your phone daily to earn free Bitcoin.

Newton is another Canadian-built, FINTRAC-registered exchange that offers a referral bonus when you make your first trade. Newton supports a wide range of cryptocurrencies and is known for its tight spreads.

NDAX charges one of the lowest flat fees of any regulated Canadian exchange at just 0.20% per trade. New users who deposit $100 or more receive a $10 Bitcoin bonus.

Shopping Bonuses

Referral bonuses are not limited to financial products. Shopping apps and marketplaces have gotten in on the action too.

Rakuten is the simplest one: sign up through a referral link, make a $25 purchase at a participating retailer, and get a $30 cash bonus. Rakuten also pays ongoing cashback on purchases at hundreds of Canadian retailers.

Poshmark gives new members a $15 credit on their first purchase when they sign up with a referral code — a great way to try the platform before committing.

How to Maximize Your Referral Bonuses

The best strategy is to stack multiple bonuses at once. Here is how:

Start with banking — Open a Simplii or KOHO account to earn your first bonus with minimal effort.
Move to investing — Open a Questrade or Moomoo account and fund it to unlock your investing bonus.
Add crypto — Sign up for Shakepay or Newton for exposure to crypto and an easy referral bonus.
Layer in shopping — Activate Rakuten and always use it before making online purchases to earn passive cashback.

By following this sequence, it is possible to earn well over $500 in referral bonuses within your first few months.

All referral bonuses listed are current as of the date of this article. Always verify current terms and conditions directly with the provider before signing up.