Wealthsimple Monthly Millionaire: How to Enter and Win $1 Million
Wealthsimple is giving away $1 million every single month to one lucky Canadian client. Here is how the contest works, how to maximize your entries, and how to get started.
By ReferralBonus.ca
Wealthsimple has always been good at making investing accessible to Canadians. But its latest promotion takes things in a direction no Canadian bank or fintech has tried before: every single month, Wealthsimple gives one of its clients $1 million in cash.
This is not a one-time stunt. Monthly Millionaire is an ongoing promotion — a new draw happens every month, and every Wealthsimple client is automatically entered just by having money in their account.
Here is how it works, how to maximize your chances, and how to get started if you are not yet on Wealthsimple.
How Monthly Millionaire Works
The mechanics are straightforward. Every dollar you have deposited or saved across your Wealthsimple accounts counts as one entry into that month's draw. The more money you have in Wealthsimple, the more entries you have.
There is one meaningful multiplier: direct deposit doubles your entries. If you set up your paycheque or government payments to deposit directly into your Wealthsimple Cash account, every dollar in your account counts as two entries instead of one.
One winner is selected each month and receives $1 million in cash. The first draw was held on June 26, 2026, meaning this promotion is already actively running with real winners.
Which Accounts Count?
All of your Wealthsimple accounts contribute entries, including:
- Wealthsimple Cash (chequing account)
- Self-directed investing accounts — TFSA, RRSP, FHSA, RESP, non-registered
- Managed investing (Wealthsimple Invest) — robo-advisor portfolios
- Wealthsimple Crypto — cryptocurrency holdings
This means that money you already have invested in a Wealthsimple TFSA or RRSP is working double duty — growing tax-free and generating monthly draw entries at the same time.
How to Maximize Your Entries
If you want to give yourself the best possible chance each month, here are the most impactful steps:
Set up direct deposit. This is the single highest-leverage action you can take. Routing your paycheque or government payments (CPP, OAS, EI) to your Wealthsimple Cash account doubles every dollar's entry value. If you have $50,000 across your accounts and set up direct deposit, you effectively have 100,000 entries instead of 50,000.
Consolidate your accounts. If you hold investments at multiple institutions, moving them to Wealthsimple increases your total balance — and therefore your entry count. Wealthsimple reimburses transfer-out fees from other institutions for accounts over $25,000.
Keep your cash at Wealthsimple. Your Wealthsimple Cash account earns competitive interest on your balance, so parking your emergency fund or short-term savings there is not just about entries — it is also a reasonable financial choice on its own merits.
Maximize registered account contributions. Adding to your TFSA, RRSP, or FHSA grows your total Wealthsimple balance, which means more entries. These contributions were already worth making for tax reasons — the draw entries are just a bonus.
Is This Legitimate?
Yes. Wealthsimple is one of Canada's most established and regulated fintech companies, managing over $30 billion in assets. Monthly Millionaire is a genuine ongoing promotion — not a marketing claim with impossible fine print.
The first draw took place on June 26, 2026, which means real Canadians have already won. Wealthsimple is a CIRO-regulated firm and a member of the Canadian Investor Protection Fund (CIPF), operating under the oversight of Canadian financial regulators.
What Would You Actually Win?
The prize is $1 million in cash, deposited directly into the winner's Wealthsimple account. From there it can be withdrawn, invested, or used however the winner chooses.
One thing worth noting: large cash prizes in Canada can have tax implications. While lottery winnings in Canada are generally not taxable, prizes received through promotional contests may be treated differently depending on the circumstances. It is worth consulting a tax professional if you win.
Who Can Enter?
Any Wealthsimple client with money in at least one eligible account is automatically entered — no action required beyond having a balance. New clients who open an account are entered from the moment they make their first deposit.
New to Wealthsimple? Start With a $25 Bonus
If you do not yet have a Wealthsimple account, opening one now gets you into the Monthly Millionaire draw immediately — and new clients can also claim a $25 cash bonus on top.
Sign up with referral code US0EBW, deposit at least $100, and hold it for 30 days to receive your bonus — claim the Wealthsimple bonus.
That $100 deposit also becomes your first entry into the Monthly Millionaire draw. Set up direct deposit on top of that and your entries double from day one.
Verdict
Monthly Millionaire is a genuinely clever promotion. It rewards exactly the behaviours Wealthsimple wants to encourage — consolidating accounts, setting up direct deposit, and keeping more of your money on the platform. For existing clients, the draw is automatic and effortless. For new clients, it is one more reason to open an account sooner rather than later.
The odds of winning in any given month are long — there are a lot of Wealthsimple clients. But the cost of entry is zero, the entries stack up automatically, and the prize is real.
🎁 Claim Your Bonus
Use referral code US0EBW to claim your Wealthsimple bonus and start earning Monthly Millionaire entries today.