TFSA Referral — Quick Facts
- ✓ Referral code 896023510497901 works for TFSA account opening
- ✓ Bonus: $50 CAD deposited to your account
- ✓ Requirement: Deposit $250+ from an external bank within 60 days
- ✓ ETF purchases: $0 commission to buy (selling costs $4.95–$9.95)
- ✓ You can invest the bonus inside your TFSA immediately
Why Open a TFSA with Questrade?
The Tax-Free Savings Account (TFSA) is one of the most powerful investing tools available to Canadians. Any money you earn inside a TFSA — capital gains, dividends, interest — is completely tax-free, even when you withdraw it.
Questrade's TFSA offers $0 commissions to buy ETFs, a comprehensive selection of stocks, bonds, and options, plus access to Questrade's advanced trading platform. With a $50 referral bonus on top, it's a compelling option for investors who want more control than robo-advisors offer.
Note: To qualify for the referral bonus, you need to deposit at least $250 within 60 days — lower than many expect.
How to Use the Referral Code
- 1
Open Questrade via the referral link
Click the referral link below — it pre-fills code 896023510497901 on Questrade's account-selection page.
- 2
Select 'TFSA' as your account type
Choose TFSA on the account-selection page. You can add additional account types after your TFSA is set up.
- 3
Complete identity verification
Questrade's KYC process requires a government-issued photo ID and your SIN. Allow 1 business day for approval.
- 4
Deposit $250+ from your external bank
Link your Canadian bank account and transfer at least $250. The deposit must come from an external financial institution and arrive within 60 days.
- 5
Receive your $50 bonus
The bonus is credited within 30 days after your deposit clears and is verified by Questrade.
Eligibility Requirements
Canadian resident
Must have a Canadian address and SIN.
New Questrade customer
No prior Questrade accounts of any type.
Code applied at signup
Enter code during account creation — not retroactively.
$250 minimum deposit
From an external bank within 60 days of opening.
Identity verified
Government-issued photo ID required.
Account must stay funded
Typically 180 days before withdrawal to keep bonus.
TFSA Referral FAQ
Can I use a Questrade referral code when opening a TFSA?
Yes. Questrade referral code 896023510497901 works when opening any account type, including a TFSA. You must be a new Questrade customer and deposit $250 or more from an external financial institution within 60 days of opening the account.
Is the Questrade TFSA referral bonus taxable?
The $50 referral bonus is generally considered taxable income in the year it is received, even if deposited into a TFSA. However, any investment growth on the bonus inside the TFSA is tax-sheltered. Questrade may issue a T4A slip. Consult a tax professional for advice specific to your situation.
Does the Questrade $50 bonus count against my TFSA contribution room?
This depends on how Questrade classifies the credit. If treated as income deposited to your TFSA, it may count against your available contribution room. Contact Questrade support or a tax professional to confirm the exact TFSA treatment for your situation.
What is the minimum deposit needed to get the Questrade TFSA referral bonus?
To qualify for the $50 referral bonus, you must deposit at least $250 from an external bank within 60 days of opening your Questrade TFSA. This is lower than many people expect — Wealthsimple requires $100, while Questrade's referral threshold is $250.
More Questrade Guides
WealthPerks Insight
Opening a Questrade TFSA with a referral code gives you a $50 bonus while accessing one of Canada's best platforms for low-cost self-directed ETF investing.
A Questrade TFSA is particularly compelling for Canadian investors who plan to buy index ETFs passively. Free ETF purchases mean no transaction costs on the buy side, and the TFSA wrapper means all growth and withdrawals are tax-free. The $250 minimum deposit is the main qualifier.
Best For
- Canadians who want to self-direct their TFSA with ETFs
- Users who are comfortable choosing their own index funds
- Long-term passive investors focused on minimizing fees
- Users transferring a TFSA from a high-MER mutual fund at their bank
May Not Be Ideal If
- Users who want a managed portfolio (consider Wealthsimple Invest instead)
- Users who cannot deposit $250 within 60 days
- Existing Questrade TFSA holders
- Users who are not yet ready to make their own investment decisions
See all verified codes: Canadian referral codes directory →