Wealthsimple Reviews
Wealthsimple Overview
The generated data is based on reviews and questionnaires provided by PissedConsumer.com users.
1.6 star rating from 6 customer reviews; consumers are mostly dissatisfied and reviewers report the price level is high with concerning billing practices.
Key Takeaways for Future Customers
- Read Wealthsimple reviews to weigh frequent account lockouts and authentication hassles for travellers.
- Expect slow customer service response and issues with billing or refunds and subscriptions resolution.
- Some users find the platform easy to use, but consider alternatives if you need reliable options trading or rapid support.
Negative Feedback / Risk Areas
- Account lockouts and poor two-step authentication for international travel.
- Long hold times, unhelpful chat misinformation, and slow transfers when closing accounts.
- Problems with options exercising, wrong charges, and perceived opaque billing practices.
Positive Feedback
Some customers praise easy investing, occasional fast problem fixes, free features, and helpful individual representatives.
The generated data is based on reviews and questionnaires provided by PissedConsumer.com users.
1.6 star rating from 6 customer reviews; consumers are mostly dissatisfied and reviewers report the price level is high with concerning billing practices.
Key Takeaways for Future Customers
- Read Wealthsimple reviews to weigh frequent account lockouts and authentication hassles for travellers.
- Expect slow customer service response and issues with billing or refunds and subscriptions resolution.
- Some users find the platform easy to use, but consider alternatives if you need reliable options trading or rapid support.
Negative Feedback / Risk Areas
- Account lockouts and poor two-step authentication for international travel.
- Long hold times, unhelpful chat misinformation, and slow transfers when closing accounts.
- Problems with options exercising, wrong charges, and perceived opaque billing practices.
Positive Feedback
Some customers praise easy investing, occasional fast problem fixes, free features, and helpful individual representatives.
Media from reviews
This review is from a real person who provided valid contact information and hasn't been caught misusing, spamming or abusing our website. Check our FAQ
Verified Reviewer |
Brampton, Ontario
Fundamental issues with options (Including exercising)
- - Unreliable Wealthsimple chat; can mislead.
- - App outages blocked urgent options trades.
- - Transferring to a real broker since 2025; I am waiting.
Note: The chat on the Wealthsimple website will give misinformation and is very unreliable.
Since I start my account with Wealthsimple they have slowly added more frilly updates to be more like Robinhood, which I did not want.
I have had many issues with Wealthsimple, such as the app being unavailable when I urgently needed to perform options trades, or buy a stock at a good price. It was also difficult to opt out of lending my shares, which I really did not want to do.
Customer service is usually a very long wait, sometimes so long that my call is 'automatically disconnected'.
I have initiated a transfer of my account to a real broker in 2025, and I am still waiting 3 months later.
The reason I am transferring my account arose because of some long calls I held for Gamestop (GME). Gamestop issued warrants as a dividend and WealthSimple DOES NOT support them. Further, the chat bot on their website assured me that my long calls were entitled to warrants if I chose to exercise which I was very excited about. An additional issue is that you CANNOT exercise an option without getting ahold of customer service, which is very time-consuming if you have a job.
After spending HOURS on hold, I was told that I do not get any warrants despite being entitled to them.
Customer service was rude and blamed me for not knowing their unusual and confusing policy. The only option is to "sell to close" and it was IMPOSSIBLE to exercise my options properly.
This issue caused the most anxiety for me compared to all other issues with Wealthsimple.
I suspect that this is illegal but I don't know if there's anything I can do. Wealthsimple does a great job of displacing blame when necessary.
- Free
- Takes advantage of customers who lack robust knowledge
Preferred solution: I believe they are unethical and want nothing to do with them.
User's recommendation: If you use a "free" broker, then YOU are the product. They will make money of PFOF or other means that negatively impact your execution price and profits.
Mississauga, Ontario
Trace some wrong charges
Had some questions that was very well answered, by a lovely lady . She was very focused in solve all my question . Dont know her name but my shout out goes for her .
User's recommendation: Very good on line banking
This review is from a real person who provided valid contact information and hasn't been caught misusing, spamming or abusing our website. Check our FAQ
Verified ReviewerVery untrustworthy
- - Offers seem appealing but are revoked later.
- - Customer service is unhelpful and security is unreliable; funds may be inaccessible.
This company is extremely disappointing. They lure customers in with special offers that sound appealing, only to later revoke them.
Their customer service is unhelpful, and their security practices are unreliable. If you want the risk of having your account locked without access to your money, this is unfortunately the company that provides that experience.
- Easy investing
- To many to list
Preferred solution: Apology
User's recommendation: Find another bank
Toronto, Ontario
This the worst customer service I have ever experienced and I’m being nice about it
Im not able to speak with someone because your automated system is wacky and annoying!!!uuihgrrhjjregjhfdvhgrrghhrdvbhyrfgjytfhjrdhhdfjtdhytrbhrdgjhdsdjfedhdd bf segggyrr he ee
This review is from a real person who provided valid contact information and hasn't been caught misusing, spamming or abusing our website. Check our FAQ
Verified ReviewerThere was a problem with account with a transaction made without me doing it
- - The user says a problem occurred on Wealthsimple, not from login.
- - They were vetted with IDs and treated as the problem, not the victim.
if there is problem with your acct because some bot/ai didn't read your patterns correctly. be careful you may go through a whole series of criminalizing you the victim and they will not validate you actually can be the solution. They just don't know how to work with you when there is some potential problem in account it is very unfortunate that the owner of acct get such a bad treatment and no matter what you say or how right you are ...you are made wrong.
i am not the problem i did nothing yet they treat like a criminal when the problem happened in wealthsimple without me doing anything.
so instead of having execution type peole treating inhumanely in the process you should start thinking about your actions.
Preferred solution: Apology
This review is from a real person who provided valid contact information and hasn't been caught misusing, spamming or abusing our website. Check our FAQ
Verified ReviewerI want my money please
- - My account was closed for weeks.
- - A payment from the Government of Canada was deposited.
- - Please update me ASAP on transferring the funds and the status.
I have had my account wrongfully closed by you for weeks now. I understand that a payment from the Government of Canada was deposited into it.
I would like for you to at least communicate with me when you are transferring that to my other account or inform me about what's going on.
You have a very poor level of communication, and I would like someone to get back to me as soon as possible. This is very unprofessional.
Preferred solution: Apology
User's recommendation: Do not use well simple period you will never ever get a hold of this apparent back office they are the worst worst at communicating they put everything off on other companies to never their fault they wrongfully close my account for no reason did an investigation in for like 2 weeks and again they don't communicate if you want to go as well simple maybe you should go to the Doctor and ask for a second opinion
This review is from a real person who provided valid contact information and hasn't been caught misusing, spamming or abusing our website. Check our FAQ
Verified ReviewerTechnological nightmares
i am so tired of trying that i will just say
i can't even get an email to ensure an etransfer
works!!!
This review is from a real person who provided valid contact information and hasn't been caught misusing, spamming or abusing our website. Check our FAQ
Verified ReviewerActually was resolved fast and helpful
Was angry because I was locked out of my account for having to verify for no reason but after calling and having them help me everything was good to go thanks wealthsimple
Preferred solution: Nothing
User's recommendation: They good with most
North Battleford, Saskatchewan
Account details and information update
- - Client since 2019, unable to access accounts since 2021; requests urgent help after suspected cyber compromise and to update contact details.
My name is Shayne Bacik i am a client of yours now since 2019. i have made numerous attempts to contact your financial advisors and to speak to a representative about my accounts. My accounts may have been comprimised by cyber criminals and j need to do a follow up and get back into my accounts.I havent seen them since 2021 because i have been locked out and i need to update my address and telephone number please contact me at +1(63*)***-**** or by email shaynebacik12345@***.com asap thank you wealth simple financial.
User's recommendation: Always be aware of your information and and data you share ,because therea always val
Churchill, Ontario
Pissed off customer locked out of my account
- - Locked out of Wealthsimple; EI funds unavailable.
- - Customer service was difficult and unhelpful.
- - Calls were on hold for an hour and not solved.
I was locked out of my account and when reaching out to Wealthsimple everyone was difficult, talked over me when trying to explain things, did not care for me in any way. Kept lying to me and put me on hold for up to an hour.
Blocked my phone number. They did not solve any issues and did not get anyone to call me back when they said they would. I have a deposit from EI that went into my account and have no access to it wich I need to pay bills and buy groceries.
They have done nothing to resolve this problem. I am pissed and would not recommend WealthSimple to anyone.
User's recommendation: Never get a Wealthsimple account.
Tax returns dispute
I filled the tax return 2022 now it reassessed and I have to pay back $3176, it never happened my previous tax returns
This review is from a real person who provided valid contact information and hasn't been caught misusing, spamming or abusing our website. Check our FAQ
Verified ReviewerResolved: 2 step Authenticator
Company fixed the issue and I have been provided with product or service ordered.
I Cant receive text for two step authentication as I put in an European SIM card in my phone while on holidays. They changed the 2nd step to email for me.
- Fixed problem
- Should make it easier for travellers to authenticate
Preferred solution: Another way to do two step authentication
User's recommendation: Call using this application and talk with customer service.
Galatas, Attica
2 step Authenticator
- - They fixed the problem I had.
- - The international support number should be clearer.
- - I called through this site and it was fixed immediately.
They fixed the problem I had. They could do a better job on disclosing the international number to call for customer service.
I had to call through this site. Once I talked to someone they fixed the issue immediately.
User's recommendation: Find the international phone number as you can’t use the 1-800 number. Use the google Authenticator app and not the sms for two step authentication if you travel a lot and buy local SIM phone cards which come with a new phone number.
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