Company Details

Garbage company, had my account frozen because they claimed I was using too much money paying bills !?!?! Every agent seems ret@rded and cannot get a straight answer from anyone ……AVOID AT ALL COSTS ! You’ve been warned ….

My account is locked and it has my disability money sitting in the account. I did all I had to do to get all the information Strighten out, they still won’t get back to me! I’m very pissed off with them cause my money hasn’t been released

If I could give 0 stars that would be it. Sold the ETFs with 1 business day settlement, next day the system wouldn’t allow me to withdraw it. Their customer service is a f…ing joke. Are they even qualified at a minimum? Dozens of conversations over the phone and over 24h lost with absolutely incompetent agents who’d give different pieces of irrelevant information every time. False promises given, not kept, and zero follow up or update. Because of their platform glitch I couldn’t withdraw funds for home purchase in time, the agent promised to do it manually but stopped responding to confirm. After at least 10 frustrating phone calls and trying to get a follow up I’ve been told at the end of the day that I had to initiate the withdrawal myself (=not having the funds in time as promised and having a risk of legal action). Nobody seems to take any responsibility for a faulty/ wrong information given/ action taken. It cost me a panic attack to say the least …

Referred a premium member but didn't get the bonus.

I been with them for 2 years and It seems like every month The site's always crashing and I can never Access my money are access any of my crypto currencies. And this has been an ongoing issues always happening. I am so sick and tired of this app...

I have been with Wealthsimple since the beginning, and never had an issue. Customer service was terrific as well. I don’t understand all the negative reviews.

I had transferred my rrsp account to wealthsimple as I was trying to consolidate my investments. They had a promo going around for 0.5% of the transferred amount if you initiate the transfer by a certain deadline. Now when the time came to give out the promo, they declined stating that I didn't fill some registration form which wasn't clearly mentioned at that time. Seems like an easy excuse to not pay the bonus.

Created a new managed account, and wasted a month waiting. and no investments have been made. they just hold your money

I recently opened an account with Wealthsimple and transferred both my RRSP and TFSA accounts. However, I discovered that the transfer fee reimbursement policy wasn't clear on the main page. It turns out that they only reimburse fees for accounts over CAD 15,000, but I thought it applied to the total amount across multiple accounts. Because of this misunderstanding, my RRSP transfer was reimbursed, but my TFSA was not. As a result, I was charged CAD 172 for transferring just CAD 1,800 into my TFSA, which is almost 10% of the total account value. This steep fee led to a negative balance in my TFSA. I contacted Wealthsimple, requesting a refund, as I wouldn't have made the transfer if I had known about this significant fee. I suggested that they send an email ahead of time to inform customers if they're not eligible for reimbursement due to low account value. Had I received such a warning, I would have canceled the transfer and saved CAD 172.

When first opened account, I clearly mentioned that I am non-resident Canadian living in US, and needed to park my RRSP. Several agents confirmed all good, They mentioned I could not have self-directed account, so they set me up with one of their portfolio. Then 1 year later, I get an email stating that in the last 6 months all my access to their account has been from ISP outside of Canada. And for me to have an account, I must be living in Canada. When I argued, they said they can hold my account in suspend state under following condition: 1) They will not manage my account, but still charge management fees. 2) Money earned will not be re-invested, nor will they give any interest on it. Which means they will use my cash, and I don't get any interest.

Until this season I have been very happy with Wealthsimple. However this attempt to file my taxes has been a nightmare. I hit the submit button for Netfile and was immediately taken to the invoice section for Wealthsimple. I paid and there was no delay in the company cashing in! I received no confirmation that Netfile has been submitted. I have had no access to the Help centre either. I did, finally, get feedback by email of the correct email address to deal with my concerns. In our first communication I was told that there is no evidence it has been done. No advice or assistance has been given. To be fare a person continues to communicate with me but they still are not helping. Today I was told that since I am only a basic customer I am last on the list to be sorted! I reminded them again that they have been paid for a non-service and I am now late filing. I am requesting a return of the fee and will close the account.

I would steer clear from this company every single customer service representative tells you a different thing giving you wrong information that can get you suspended Advise you to run away as quick as you can from this Disgraceful training company they try to hide their bad practises by some of the decent products that they give you telling you it’s not worth it unless you want to have a four week ongoing unresolved issue

Terrible company that charges rates significantly above market and has a very poor performance relative to market (look at the broad S&P 500 performance vs their returns and you'll be shocked). This company will leave you 30%+ poorer by retirement. Oh, and they've started using deceptive tactics with Simple Tax after acquiring them. The service now surprises you with a mandatory fee at the very end of doing all your taxes. It's extremely predatory practice.

I have been using Wealthsimple for the past 4-5 years. While I found it as a simple tool to file taxes, they are missing key success criterias to be a Financial Institution that you can trust with your hard earned money. Their cash, savings or other trading  products are not mature and if you face an issue, customer services are concerned and penalizing. I spent quite some time with them for the simplest issue but it never got resolved and finally I gave up on my money. As a result, I've decided to explore alternative options for my banking and trading needs, reserving Wealthsimple solely for tax purposes.They don't care about retaining client footprints but are focused on attaining new clients & making revenue which is not sustainable for decades to come. This doesn't happen with other banks or financial institutions.

User since the opening. WealthSimple is an easy way to manage our money, to be wealthy. They tech is really modern, quite easy to use. For people not into trading but willing to buy some shares of their favorite company, they provide a smooth and easy experience without any overhead. Lot of negative comments are related to the trading part of WealthSimple, but WealthSimple is not intented for trading experts. Just for people willing to buy shares and keep them for years, or people who wants their money to work automatically. I really like it, I'm happy we have WealthSimple. Would just say transfering a REER account was not that funny as they used a past postal address I had out of nowhere. With support we were not able to identify what happened.

Wealth simple had processing error they charged me conversion rates when I shouldn't have been charged. I have emailed 2 times with a question as well as a complaint and I have called 2 tines once hung up other time I was assured they would work on it and email me with details. I have not heard back from any request. Besides the hidden account fees and horrible customer service, they also have changed there portfolio inception date from 2014 to 2016 to try and show better returns. When in reality almost every other company has better returns after fees. This company is very unprofessional. I could easily look past some stuff if they had any customer service at all. I'm glad I was only trying them out

This is totally scammer. Please do not use this app. They will just eat your money. I bought crypto for $3000 and I put limit price for $0.94. I have the transection recept that shows that transection completed with the price of $0.94. Now it's showing that the average price is $0.97. I am totally disappointed, many times it happened also some other issues it has, people already mentioned here. So I've decided to close this account soon. Hope this will help to others. Thanks

They used to be the best, easiest free tax software and you 'll read that in other Reviews. This is flat out no longer true. They suddenly without any notice, started to charge if you did more than 2 people's taxes. So say a family of 3 or more, well now they force you to pay $40 or more. Now granted turbo tax free does the same thing but even more sneaky and Wealthsimple tax is easier to do as the software is good. But their sudden change to charge after 2 returns REALLY PISSES ME OFF. So don't believe the 'always free' stuff as it's now not true. Besides, by next year CRA should have an online function which will be totally free. So that should end both wealthsimple and turbotax.

Due to a technical glitch on there end I was locked from selling a stock for over an hour. They acknowledged the glitch was on there end but pointed to there TOS stating they are not responsible for any losses incurred due to technical glitches. Dangerous platform for day trading.

Customer service is terrible. Takes an hour to get hold of them. Even the online chat takes forever.