The customer acquisition fun continues! Who benefits? Those of us with no particular loyalty to any particular online broker!

Questrade’s offer of free money (to a maximum of $20k) applies to both new and existing clients. (Regrettably, I think that since I started my — still uncompleted — transfer last year, I won’t be eligible myself. Now isn’t that a kick in the head? Of course, I’m still collecting from the transfer I did in early 2025.)

Here are the pertinent details, but in summary:

• Minimum $10k transfer required
• Base reward: 1% cash back for registered¹ accounts, 2% cash back for non-registered accounts
• Move 3 or more kinds of accounts (one of which has to be non-registered) and double your base reward to 2% for registered accounts, 4% for non-registered accounts
• Maximum cashback for registered accounts: $10k
• Maximum cashback for non-registered accounts: $10k
• Must start the transfer before Feb 2, 2026, and it has to complete by May 29, 2026
• Payouts start in June 2026 and last for 24 months
• Asset levels must be maintained until June 2028²

So one way to qualify for the maximum reward would be:

• Move a TFSA worth $250k to get $2500 base
• Move an RRSP worth $250k to get $2500 base
• Move a non-registered account worth $250k to get $5000 base

This is 3 accounts so this triggers the multiplier that doubles the reward:

• $5000 for the TFSA, $5000 for the RRSP, total $10k
• $10k for the non-registered account

So by moving $750k, one could take advantage of a $20k reward. Which, admittedly, is a pretty high bar, but $20k is not nothin’ either³.

To me, if you’ve grown tired of not getting free money this seems like a pretty good deal, but only if you’re able to qualify for the bonus by moving 3 kinds of accounts. Otherwise, the reward is just 1% and brokers have been more generous than that of late (e.g. QTrade).

So act quickly and decisively, this one will be over before you know it. If you want to show some love, you can even use my Questrade referral code⁴ 🙂

1. For example: TFSA, RRSP, RRIF, RESP. LIRAs are not listed in the Ts and Cs, though. ↩︎
2. You’re allowed to withdraw 5% with no penalty. If you exceed that, then you don’t get any more bonus payments. Exception: RRIF minimum payments :-). ↩︎
3. It’s more than my current earned income 🙂 ↩︎
4. My referral code is 755609544498867 which will earn you (and me) $50 for your first account. Follow this link to start: https://questmobile.onelink.me/tX0y/419708l0 ↩︎