Get a Free ETF Share Worth Up To £200 with Wealthyhood!

Nick Making Money, Investing 4 Comments

Updated 29 February 2024

Today I’m featuring a way you can get a free ETF share worth up to £200 by signing up for a DIY wealth-building app for investors called Wealthyhood.

Wealthyhood offers a quick and easy method for even complete beginners to start investing in stocks and shares. And currently if you’re new to the platform you can get a free ETF share worth up to £200 just by signing up via any of the referral links in this post and investing at least £50. The ETF share you will get is chosen at random, but could be worth up to £200 (with a minimum value of £10). You can either keep this share or sell it (after 60 days).

• For those who don’t know, ETF stands for Exchange Traded Fund. ETFs are a package of shares from a particular section of the stock market. For example, an ‘Asia Pacific ETF’ is a collection of shares from the Asia-Pacific region. ETFs are different to most investment funds in that they don’t usually have a manager running them. Instead, most ETFs are run by computers that regularly balance their portfolios automatically. This helps keep costs low, while still producing respectable returns in most cases. You can learn more about ETFs here if you wish.

How to Sign Up

Signing up with Wealthyhood is pretty straightforward. Just visit the Wealthyhood website via any of the (referral) links in this post and follow the on-screen instructions to register.

You will need to indicate the type (or types) of investment you are interested in. Four broad options are available: stocks, bonds, commodities and real estate. You can choose one or more of these (personally I chose stocks). You will also be invited to indicate whether you want your investments to be global or US only (I opted for global).

You can then choose the actual stocks you want or have this done automatically for you, and indicate the level of risk you are comfortable with. I chose ‘Optimized for Portfolio Weighting’ and then clicked on ‘Create my Portfolio’.

You will then be required to provide various items of personal information, including your address, date of birth, UK National Insurance number, and so on. Once you have entered all the required details, click on ‘Complete Verification’. After a few moments your account should be verified.

• In some circumstances the process may take longer. If that happens, Wealthyhood will email you once you’ve been verified.

The next (and final) step will be to deposit a minimum of £100 into your Wealthyhood account and make a minimum £100 investment within seven days. You must do this within seven days of opening your account to qualify for the free ETF share. (If for some reason you’re not bothered about the free share, you can start investing with a minimum of £20.)

Within five days you should receive your free ETF share worth up to £200 (Wealthyhood say that 95% of users get their free ETF share within 1-2 days). You should receive notification about this in the My Account section of the Wealthyhood website when you log in.

You may wish to set a calendar reminder for 60 days, since (as mentioned above) you have to leave your free ETF share in your account for this long before you can sell it and withdraw the proceeds. You can, of course, leave it invested for longer if you wish, but bear in mind that fees may be applied (see below).

What Are The Fees?

Wealthyhood compares favourably with many other share-trading and investment platforms. Deposits and withdrawals are free, and other costs are kept to a minimum.

Until recently Wealthyhood charged all investors a platform fee of £1 a month. That wasn’t excessive (in my view) but for small investors (including those just wanting to take advantage of the free share offer) it was a bit of a deterrent.

As from 1st June 2023, however, the monthly platform charge was scrapped. Instead investors in Beginner accounts (everyone starts off with one of these) pay a small ‘custody fee’ of 0.18% per annum (or 0.015% per month). That works out as an annual custody fee of £1.80 for a £1,000 investment, or just 15p a month. In addition, they have introduced an acquisition charge of 0.45% per order (e.g. £4.50 for £1,000).

These new charges work out much cheaper for investors starting with small amounts and those just signing up for the free share. If you decide to stick with the platform, however, you might in due course want to consider upgrading to the new Wealthyhood Plus plan. This offers fully commission-free investing with no charges per order and no custody fees for £2.99 a month or £35.88 a year. This is obviously not worthwhile for very-small-scale investors, but once your portfolio gets up to around £6,000 (by my calculation) you should save money this way.

How Safe is Wealthyhood?

Wealthyhood is registered in England and Wales and authorized and regulated by the Financial Conduct Authority. In addition, all clients’ funds are kept separately in segregated bank accounts which are covered by the Financial Services Compensation Scheme. So even if the company itself were to go broke, any cash in your account would be protected up to a value of £85,000.

Of course, the FSCS guarantee doesn’t apply to the value of your stocks, which can go down as well as up. All investments carry a risk of loss, although in the case of your free ETF share you can never lose any more than the original cost, which was of course zero!

Referral Scheme

Any Wealthyhood member can also refer new members. All you have to do is send them your unique referral link which can be copied from your dashboard. If they join via your link and invest a minimum of £100 (as above), both you and they will then receive one free ETF share worth up to £200 (minimum £5). There is no limit to the number of friends you can refer by this means or the number of free ETF shares you can receive.

Don’t Miss Out!

I do just want to emphasize that in order to qualify for the free ETF share, you MUST click through a special referral link such as those in this article. If you simply go straight to the Wealthyhood website and join there, you won’t receive one.

What’s more, when I was researching this article I found that several other websites who were advertising this offer didn’t have the correct, up-to-date referral links. So even if you had clicked through them and signed up, you wouldn’t have qualified for a free share. To be safe, I strongly recommend clicking through my Wealthyhood referral link. You should then see a banner like this near the top of the page.

If you don’t see this banner, you haven’t clicked through a genuine, working referral link, and sadly will not receive a free ETF share.

• Bear in mind also that this offer may be withdrawn any time. If and when I hear of that I will of course amend this post. But I do therefore strongly recommend taking advantage of this offer while you can.

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