Wealthsimple Monthly Millionaire $1M Draw Contest
by Wealthsimple
A monthly Wealthsimple sweepstakes where chequing deposits, referrals and direct deposit earn draw entries. Prizes change with each edition: the September 2026 edition offered Toronto condos, including a grand-prize condo valued at over $1,000,000, plus small cash prizes. The odds are extremely long.
Researched and rated by the BrokerBonuses editorial team · Last verified 2026-09-30 · How we rate
Risk warning: Trading carries a high risk of losing money, especially with leveraged products such as CFDs. A bonus does not reduce that risk. Only deposit what you can afford to lose.
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Availability
Checking availability…The catch
There is no wagering or turnover on prizes, but the main prizes are not always cash: the September 2026 edition awarded Toronto condos as its weekly and grand prizes, with cash only for the smaller $3 to $100 prizes. Winners must correctly answer a time-limited mathematical skill-testing question and complete a Winner Declaration and Release form, and have 30 days from the reveal date to claim a grand prize before it is forfeited and redrawn.
How to claim
- Register for Wealthsimple as a Canadian resident at the age of majority
- Open a Wealthsimple chequing (Cash) account and register for the current edition to receive the base entries (500 in September 2026)
- Earn more entries through net deposits (1 per $1), referrals and direct deposit, up to the edition's cap (September 2026: 100,000 per funded friend, doubled rate with direct deposit, 300,000 cap)
- Entries are automatically pooled into that edition's weekly and grand-prize draws; winners are contacted and must answer a skill-testing question to receive the prize
Full review
Monthly Millionaire is a free-to-enter sweepstakes, not a guaranteed bonus. Each monthly edition has its own dates, prizes and entry rules, published as a new version of the contest terms, so check the current edition before relying on any figure here. You collect entries through a Wealthsimple chequing account. In the September 2026 edition you got 500 entries for registering, 1 entry for every $1 of net deposits, 100,000 entries for each referred friend who funded $100 within 30 days (up to 3 friends), and a doubled entry rate once direct deposit was set up. Entries were capped at 300,000 per person for that edition, and they do not carry over from one edition to the next.
The prize format changes too. Earlier 2026 editions paid weekly cash prizes of about $25,000 to $100,000 and a $1,000,000 cash grand prize. The September 2026 edition ran from August 27 to September 30, with the grand prize drawn October 1. It gave away a Toronto condo each week and a grand-prize condo on King West valued at over $1,000,000, plus $750,000 in smaller cash prizes (173,252 prizes of $3 to $100) and 150 EQ3 chairs. Only activity started and completed within an edition's dates counts toward it. The October edition starts October 1, and its terms may differ again.
The catch is the odds. The $1,000,000 grand prize is the marketing hook, but Wealthsimple has stated there are up to seven $1 million prizes across all of 2026, split among hundreds of thousands of entrants who can each hold hundreds of thousands of entries. The realistic outcome for almost everyone is no prize or a small cash prize, so this should be read as a free lottery ticket on top of a normal account, not as a deposit bonus with predictable value. As a Canadian contest, winners must correctly answer a skill-testing question before any prize is released, and no purchase is necessary (an alternate free method of entry exists). Eligibility is limited to Canadian residents who are the age of majority in their province, including Quebec. You need a Wealthsimple chequing (Cash) account to participate.
Pros
- +Free to enter, no purchase necessary
- +No wagering or turnover on any prize
- +Open to all Canadian provinces including Quebec
- +Can be stacked on a normal Wealthsimple account you would open anyway
Cons
- −Odds of winning the $1,000,000 are extremely low
- −Up to only seven $1M prizes exist across the entire 2026 program
- −Entries reset with each edition, so accumulation does not carry over
- −Larger entry counts require large deposits or referrals
- −Prizes, entry rules and caps change every month, and the September 2026 weekly and grand prizes were condos rather than cash
- −The 500 base entries are under 0.2% of the September 2026 cap of 300,000 entries, so a minimal account is not a realistic path to the grand prize
CAD 1,000,000 top prize with Wealthsimple
Now you know the terms. Claim it on the broker's own site.
Sources & verification
We research every bonus from the broker's official pages and re-check it on a 60-day schedule.
Confirmed against official sources: Bonus amount, Minimum deposit, Eligible countries, Account type.
Broker regulation: Canadian Investment Regulatory Organization (license Investment Dealer - All Canadian Provinces and Territories), Canadian Investor Protection Fund (license Member - CIPF Coverage up to $1,000,000 per account).
- Bonus terms and conditions: help.wealthsimple.com ↗
- Wealthsimple official site: wealthsimple.com ↗
Last verified 2026-09-30. Next review within 60 days.