WealthPerks
FHSA Guide · Verified May 2026

Wealthsimple FHSA Referral Code

Last verified:April 30, 2026
Last updated:April 30, 2026

Open Canada's most powerful first-home savings account with code XVJHLJ and claim a $25 CAD bonus.

FHSA Referral — Quick Facts

  • ✓ Code XVJHLJ works for FHSA account opening
  • ✓ FHSA contributions are tax-deductible (like RRSP)
  • ✓ Withdrawals for a first home are completely tax-free (like TFSA)
  • ✓ Annual limit: $8,000 · Lifetime limit: $40,000
  • ✓ Wealthsimple charges $0 commissions on all FHSA trades

Why the FHSA Is Canada's Best New Account

The First Home Savings Account (FHSA) was introduced in 2023 and combines the best features of both the TFSA and RRSP specifically for first-time homebuyers.

RRSP benefit ✓

Contributions are tax-deductible — reduce your taxable income in the year you contribute

TFSA benefit ✓

Qualifying withdrawals for a first home purchase are 100% tax-free

Steps to Open and Get the Bonus

  1. 1

    Confirm FHSA eligibility

    You must be a Canadian resident, age 18+, with a SIN, who has not owned a principal residence this year or in the past 4 calendar years.

  2. 2

    Open Wealthsimple via referral link

    Click below — code XVJHLJ is pre-applied. Select FHSA during account setup.

  3. 3

    Complete KYC verification

    Photo ID and SIN required. Typically 5–10 minutes.

  4. 4

    Deposit $100+ from external bank

    Link an external Canadian bank account and transfer at least $100. This is both your FHSA contribution and the qualifying deposit for the bonus.

  5. 5

    Receive $25 bonus

    Credited within 24 hours of deposit clearing. Investable immediately, withdrawable after 180 days.

Do You Qualify?

Check all items that apply to confirm your eligibility.

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Code XVJHLJ · Opens in Wealthsimple

FHSA FAQ

Does the Wealthsimple referral code work with an FHSA?

Yes. Referral code XVJHLJ applies to any new Wealthsimple account including the First Home Savings Account (FHSA). Deposit $100 from an external bank within 30 days to qualify for the $25 bonus.

Who is eligible to open a Wealthsimple FHSA?

The FHSA is available to Canadian residents who are at least 18 years old, have a SIN, and have not owned a principal residence in the current year or the preceding four calendar years. The FHSA has an annual contribution limit of $8,000 and a lifetime limit of $40,000.

Does Questrade offer an FHSA?

Yes, Questrade also offers an FHSA. However, Wealthsimple's FHSA has $0 commissions on all trades, while Questrade charges $4.95–$9.95 to sell ETFs or buy stocks. Wealthsimple also offers a $25 referral bonus that Questrade does not match.

More Account Guides

→ Wealthsimple TFSA Referral→ Wealthsimple RRSP Referral→ Wealthsimple Crypto Referral→ Wealthsimple vs Questrade (FHSA)

WealthPerks Insight

The FHSA is Canada's most powerful new registered account — combining the tax-deductibility of an RRSP with the tax-free withdrawals of a TFSA, specifically for first-time home buyers.

Any eligible first-time home buyer should seriously consider opening an FHSA before the contribution deadline. Wealthsimple offers FHSA accounts and the referral bonus applies. The $8,000/year contribution limit and tax-deductible status make this one of the few accounts where the incentive to open it is genuinely urgent.

Best For

  • Eligible first-time home buyers under 71 with no home ownership in the past 4 years
  • Canadians saving for a first home who want both a tax deduction now and tax-free withdrawals later
  • Users who want to open an FHSA before losing annual contribution room

May Not Be Ideal If

  • Existing homeowners (not eligible)
  • Users who owned a home in the past 4 calendar years
  • Users over 71 (age limit for FHSA)

See all verified codes: Canadian referral codes directory →