A random draw, weighted to the bottom

InvestEngine Referral Code

Q: Will I get £100 from InvestEngine?

Almost certainly not. The bonus is randomly assigned within a range — £20 to £100 on a personal account — and InvestEngine publishes the distribution, which almost no company running a randomised reward does. Three quarters of all bonuses land in the £20 to £24 band, and the top tier carries a chance of roughly 2%. So "up to £100" is true and almost entirely uninformative, and the number to plan around is about £20.

Q: What should I tell the person I refer?

"Probably about £20, occasionally more." That is accurate, and it is still a perfectly good offer. If you tell a friend they will get up to £100, the overwhelmingly likely outcome is that they receive £20 and remember that you oversold it. The general rule is worth carrying everywhere, because randomised rewards are spreading: a randomised reward's headline is its maximum, not its expectation. Scratch cards, spin-the-wheel bonuses and "mystery" rewards all work this way, and usually the distribution behind them is not published at all.

Q: Is it fair to criticise them for this?

Only partly, and the balance matters. Publishing the odds is unusual and honest — it is the reason this page can tell you what to expect rather than merely warning you that you cannot know. A platform that shows you the distribution is behaving better than one that does not. The criticism belongs to the "up to £100" framing, including ours, rather than to the mechanism.

Q: Can I withdraw the bonus straight away?

No. Per the published terms the referred person must invest at least £100, and both that £100 and the bonus must remain invested for twelve months. If they do not, InvestEngine reclaims an amount equal to the referral funding from the referrer's and the referee's accounts. So your reward depends on someone else's behaviour for a year — if your friend withdraws early, your bonus is reclaimed too, which is unusual and worth telling them explicitly when you send the link.

Q: Is the bonus cash?

No, it is an investment credit — money that arrives in the account already invested rather than money you can spend. And because it is invested, its value can fall: a £20 bonus put into an ETF portfolio is a £20 investment, not a £20 note, and over twelve months it may be worth more or less. That is not a criticism, it is what "investment bonus" means, but it is not the same as being paid £20.

Q: What about the much larger transfer bonuses?

Those are a different instrument altogether. Transfer incentives are paid for moving an existing portfolio, they scale with its size, and they are why "transfer bonus" figures in this industry look so much larger than referral figures. If you are considering one, judge it against the exit fees charged by your current provider and the time out of the market while the transfer completes — those are the two real costs, and neither appears in the headline.

Q: How much of my money is protected?

£85,000 per person per firm, not £120,000 — and this is being widely misread right now. The £120,000 figure that entered the news on 1 December 2025 applies to deposits, meaning money in a bank. Investments, pensions, insurance and mortgages all stayed at £85,000, so anyone who read those headlines and assumed their investing platform went up too is wrong by £35,000. The more important half is what it covers: the firm failing and your assets not being there. It does not cover your investments falling in value. Nothing does — that risk is the entire reason investments pay more than deposits.

InvestEngine's bonus is randomly assigned between £20 and £100 — three quarters land in the £20–£24 band — and it is locked up for twelve months

InvestEngine is a UK investment platform offering commission-free ETF portfolios, with ISA, SIPP, general investment and business accounts.

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Genie Says

InvestEngine's referral bonus is randomly assigned between £20 and £100 on a personal account, and the platform publishes the distribution: three quarters of all bonuses land in the £20–£24 band, with roughly a 2% chance of the top tier. So our "up to £100" headline was true and almost uninformative — plan around £20, and tell your friend that. Publishing the odds is genuinely unusual and honest; the criticism belongs to the framing. The condition matters more than the amount: both the £100 and the bonus must stay invested for twelve months or InvestEngine reclaims the referral funding from both accounts, so your reward depends on someone else's behaviour for a year. The bonus is an investment credit rather than cash, and its value can fall. FSCS investment protection is £85,000 per person per firm — not the £120,000 deposit limit — and covers the firm failing, never the price.

How much can you earn?

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The same randomised range, on the same draw. Business accounts carry a higher range, and ISA or SIPP transfers carry substantially larger rewards.per successful referral*

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How to Use an InvestEngine Referral Code

Plan around £20, not £100

The bonus is a random draw and the published distribution puts three quarters of all rewards in the £20–£24 band, with roughly a 2% chance of the top tier.

Tell your friend the real expectation

"Probably about £20, occasionally more" is accurate and still a good offer. "Up to £100" sets them up to feel oversold.

Expect a twelve-month lock

Both the £100 and the bonus must stay invested for a year, and if your friend withdraws early your bonus is reclaimed too.

Remember the bonus is invested, not paid

A £20 investment bonus goes into an ETF portfolio. Over a year it may be worth more or less — which is not the same as being handed £20.

Reward Details

Your Reward: A randomly assigned bonus, £20–£100 on a personal account, after investing at least £100. The published distribution puts three quarters of bonuses in the £20–£24 band, with roughly a 2% chance of the top tier. Plan around £20.
Referrer Reward: The same randomised range, on the same draw. Business accounts carry a higher range, and ISA or SIPP transfers carry substantially larger rewards.
Minimum Purchase: £100 invested by the referred person.
Validity: Both the £100 and the bonus must stay invested for 12 months. If not, InvestEngine reclaims an amount equal to the referral funding from both accounts.
Available In: UK
Referral Limit: Capped at 25 referrals.
Payout Time: Credited within a couple of business days once the new customer has invested £100 — but locked for twelve months thereafter.
Eligibility: UK residents; referrers must be existing customers with at least £100 invested; referees must be genuinely new. FSCS investment protection is £85,000 per person per firm — not the £120,000 deposit limit — and it covers the firm failing, never the price.

Why Choose InvestEngine?

Three quarters of bonuses are £20–£24

The reward is randomly assigned between £20 and £100, and the published distribution is heavily weighted to the bottom. "Up to £100" is true and almost uninformative.

Credit where due — they publish the odds

Almost no company running a randomised reward discloses its distribution. That is unusual and honest, and it is why this page can tell you what to expect.

Locked for twelve months, and clawed back

Both the £100 and the bonus must stay invested for a year. If your friend withdraws early, your bonus is reclaimed from your account too.

FSCS investments is £85,000, not £120,000

The £120,000 figure from 1 December 2025 applies to deposits only. Investments stayed at £85,000 — and cover the firm failing, never the price.

About InvestEngine

Our page advertised "up to £100". That is the top of a random range, and the platform publishes the distribution — which is the single most useful thing on this page.

Our page said "earn up to £100" and our statistics said "£100 referral reward". Neither is what you should expect to receive.

The bonus is randomly assigned within a range — £20 to £100 on a personal account. And InvestEngine publishes the distribution, which almost no company running a randomised reward does. It is worth reading carefully:

Three quarters of all bonuses land in the £20 to £24 band. The top tier carries a chance of roughly 2%.

So "up to £100" is true and almost entirely uninformative. The number you should plan around is about £20. If you told a friend "you'll get up to £100", the overwhelmingly likely outcome is that they receive £20 and remember that you oversold it — so say "probably about £20, occasionally more", which is both accurate and still a perfectly good offer.

This is a rule worth taking away from this page and applying everywhere, because randomised rewards are spreading: a randomised reward's headline is its maximum, not its expectation.

Scratch cards, spin-the-wheel bonuses and "mystery" rewards all work this way, and the arithmetic is always the same: the advertised figure is the best case, and the distribution behind it is usually not published at all. Credit where it is genuinely due — InvestEngine publishing the odds is unusual and honest, and it is the reason this page can tell you what to expect rather than merely warning you that you cannot know. A platform that shows you the distribution is behaving better than one that does not.

Now the condition, which matters more than the amount: the money is locked for twelve months.

Per the published terms, the referred person must invest at least £100, and both that £100 and the bonus must remain invested for 12 months. If they do not, InvestEngine reclaims an amount equal to the referral funding from the referrer's and the referee's accounts.

Three things follow, and the third is the one people miss:
1. The bonus is not cash. It is an investment credit. It arrives in the account as money that is invested, not money you can spend.
2. Your reward depends on someone else's behaviour for a year. If your friend withdraws early, your bonus is reclaimed too. That is unusual and worth telling them explicitly when you send the link.
3. And because it is invested, its value can fall. A £20 bonus put into an ETF portfolio is a £20 investment, not a £20 note. Over twelve months it may be worth more or less. That is not a criticism — it is what "investment bonus" means — but it is not the same as being paid £20.

The other tiers. Business account referrals carry a higher range, and there are substantially larger rewards on ISA or SIPP transfers. Transfer incentives are a different instrument altogether: they are paid for moving an existing portfolio, they scale with its size, and they are the reason "transfer bonus" figures in this industry look so much larger than referral figures. If you are considering one, judge it against the exit fees and the time out of the market during the transfer, which are the two real costs and neither appears in the headline. The referral itself is capped at 25.

Finally, the protection question, because it is routinely misread right now.

The FSCS limit for investments is £85,000 per person per firm. It is not £120,000.

The £120,000 figure that entered the news on 1 December 2025 applies to deposits — money in a bank. Investments, pensions, insurance and mortgages all stayed at £85,000. Anyone who read those headlines and assumed their investing platform went up too is wrong by £35,000.

And the more important half: investment protection covers the firm failing and your assets not being there. It does not cover your investments falling in value. Nothing does. That risk is the entire reason investments pay more than deposits, and no compensation scheme will ever remove it.

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