How much is the Questrade referral bonus?
The Questrade referral bonus is $50 CAD to the new client and $50 CAD to the referrer — an even split, which is unusual among Canadian bank and brokerage referrals. It is paid once the new client opens a new account with a referral code (this site's is 896023510497901) and funds that self-directed investing or Questwealth Portfolios account within 60 days, the code applied at the start of the application.
Payment arrives the month after the account is completed, not within days of funding, and it lands in the client's billing account if they hold several. The new client must also fund the account with $250 — a figure Questrade states in its Questrade Reserve FAQ but omits from the Refer a Friend eligibility list, which is why sources disagree about whether a minimum exists.
A referrer can earn on at most 30 referrals per year, a ceiling of roughly $1,500 CAD. The reward also cannot be combined with any other Questrade offer code: one code per new customer.
Who gets what, and under what conditions?
| Item | Value | Detail |
|---|---|---|
| New client | $50 CAD | Paid into the new account |
| Referrer | $50 CAD | Paid into their account, or their billing account if they hold several |
| Qualifying action | Open + fund | Both, within 60 days of starting the application |
| Eligible accounts | Self-directed, Questwealth | The offer is available for Questrade and Questwealth accounts |
| Payout timing | Following month | Not instant, and not on funding day |
| Annual cap | 30 referrals | Applies to the referrer — roughly $1,500 CAD a year |
| Codes per client | One | Cannot be combined with any other offer code |
Both sides receiving the same amount is not the norm. A number of Canadian bank and brokerage referrals pay the referrer a multiple of what the new customer gets; this one is symmetrical.
Note the last row: the reward competes for the same field as any promotional code. Where that field is, and how to judge a promotion against the $50, is covered on the Questrade offer code and promo code page.
When does the Questrade referral bonus get paid?
This is the most misreported part of the program. The reward is paid in the month after the new account is completed, provided everything was done inside the 60-day window. Depending on where in the month you finish, the realistic wait is anywhere from a couple of weeks to about six.
| Stage | What happens |
|---|---|
| Day 0 | Application started, referral code entered in the Offer code box, offer terms agreed |
| Days 1–60 | Account opening completed and the account funded — both must happen inside this window |
| The next month | $50 is credited to each side, once all eligibility requirements are met |
Questrade names four causes: the new account was not completed within 60 days; the person already had a Questrade account or application; the referral code was not entered correctly at the start of the application; or the eligibility requirements are not all met yet. Before assuming a problem, check the calendar — payment is not due until the following month.
If several accounts are open, the money goes to the billing account, which you can identify under Account Management → Account Management, in the "Billing account" field. That accounts for a fair number of "it never arrived" reports.
Is there a limit on how many people I can refer?
Any client with at least one active Questrade account can refer up to 30 people new to Questrade each year. At $50 each, that is a hard ceiling of about $1,500 CAD a year for the referrer, no matter how many people they introduce.
If you are the one signing up, the cap costs you nothing — your $50 is unaffected. It matters in one situation only: comparing programs as a referrer. A capped program pays well up to its ceiling and nothing beyond it, so past a certain volume an uncapped program at a lower rate per person overtakes it. That comparison is worked through on Questrade vs Wealthsimple.
Questrade Reserve members earn double
One detail almost nothing else documents: clients with Questrade Reserve benefits receive 2x the referral bonus. Questrade's Reserve FAQ puts it as “$100 for you and $50 for them” — the referrer's side doubles, the new client's stays at $50.
The reward is paid to the referrer's primary or billing account in the month after all eligibility requirements are met, and Reserve status has to be active at the time the account is funded, not merely when the code was shared. Reserve is Questrade's premium tier, earned on trading volume and balances, so this is not something most referrers will qualify for — but it does mean a headline “$100” figure you may see quoted is real, just not the standard reward.
Questrade also reserves the right to modify, suspend or cancel the reward, the use of referral codes, or participation in the rewards program at any time, at its sole discretion and without prior notice.
Is the bonus taxable?
Cash rewards from financial institutions can be treated as taxable income by the CRA and reported as other income. A $50 reward often does not generate a tax slip, which does not by itself change the treatment. A referrer receiving several rewards in a year is in a different position from a one-time recipient.
This page is not tax advice. If the amounts are material to you, ask a tax professional about your own circumstances.
Questrade referral bonus FAQ
How much is the Questrade referral bonus?
When is the Questrade referral bonus paid?
How much do I need to deposit to get the bonus?
Why has my Questrade referral bonus not arrived?
Is there a limit on Questrade referrals?
Which account does the referral bonus go into?
Why do some sites say the Questrade referral pays $100?
Is the Questrade referral bonus taxable in Canada?
Can the referral bonus be combined with a Questrade promo code?
Who maintains this
Every figure on this page was checked against Questrade's published Refer a Friend page and its eligibility guidelines on . The $50 reward, the 60-day open-and-fund window, the 30-referrals-per-year cap, the following-month payout and the one-code rule all come from that source, not from another comparison site.
Referral programs change without notice. If something here no longer matches what Questrade shows you, it is out of date and worth flagging.