ReferralFlo
Investing · original research

Investing referral program statistics

Counted from 11 investing referral programs. Each was read from the brand's own published terms, and dated. 100% reward both sides. 100% attach a qualifying action. And 0% have already changed since the write-ups that describe them.

Method. n = 11 investing programs, verified against each brand’s own published terms, most recently on 8 September 2026. Rates below are computed over the 11 still running, or the 9 that publish their reward amounts, whichever the figure requires. Sectors with fewer than 5 programs are not published at all.
11

investing programs verified against the brand's own terms

100%

reward both sides (11 of 11 whose structure is verifiable)

82%

of running programs publish what the reward is worth (9 of 11)

0%

have changed or been retired versus what circulating write-ups describe (0 of 11)

01Transparency

What these programs actually publish

Counted across the 9 investing programs that publish their reward terms. Every brand behind a figure is named, so any number here can be checked against its teardown.

Publish a cap on what can be earned5 of 9 · 56%

Robinhood, StashAway, Sharesies, Superhero, Endowus

Publish an expiry on the reward7 of 9 · 78%

Acorns, Wealthsimple, Robinhood, Syfe, Sharesies, Spaceship, Superhero

Publish what the friend must do to qualify9 of 9 · 100%

Acorns, Wealthsimple, Robinhood, StashAway, Syfe, Sharesies, Spaceship, Superhero, Endowus

02Reward design

What investing brands pay referrers in

The referrer's reward, classified by its primary component, across the 9 programs that publish one.

Stock or fund units4 of 9 · 44%

Acorns, Robinhood, Spaceship, Superhero

Cash or cashback3 of 9 · 33%

Wealthsimple, Syfe, Sharesies

Fee waiver2 of 9 · 22%

StashAway, Endowus

03Questions

Common questions

How many investing referral programs is this based on?

11. Each was read from the brand's own published terms, never from a roundup, and each is dated. 11 were running when last checked. 9 publish what the reward is worth. Every figure links the teardowns behind it.

Do investing referral programs reward both sides?

100% of the 11 programs whose structure can be verified reward the referrer and the friend. The rest reward only the referrer, or publish nothing for one side.

What do investing brands actually give as a referral reward?

stock or fund units is the most common, used by 4 of the 9 programs that publish their terms. The full distribution, with the brands behind each, is on this page.

Can these figures be cited?

Yes, with attribution and a link. Every underlying programme is public on its own teardown page, so any number here can be traced to the brand's own terms and the date they were read.

Citation

Using these figures

These figures are free to cite with attribution and a link. Every programme behind them is public on its own teardown page. Each carries the brand’s own source and the date it was read. So any number here can be checked, not trusted.

ReferralFlo, "Investing referral program statistics", n = 11, data verified 2026-09-08.
https://referralflo.ai/referral-statistics/investing

Run an investing referral program on these terms

ReferralFlo handles the caps, expiry rules, qualification logic and payouts these programs are built on, without engineering time.