Wealthsimple Reviews 515

My overall experience was very frustrating. It took over three weeks to regain access to my account and withdraw my funds, even though I provided every document requested promptly. Communication was slow, and despite explaining the urgency of the situation multiple times, it didn't seem to make any difference or speed up the process. While I understand the need for security checks, the process felt excessive, poorly coordinated, and caused unnecessary stress and delay in accessing my own money. I hope Wealthsimple can improve communication, response times, and the handling of urgent cases in the future.

Title: Unacceptable Account Freeze – No Access to My Own Money

My Wealthsimple account has been frozen since October 8, 2025, and I’ve received no meaningful support or updates.

I provided all requested documents to prove the legal source of my funds (from employment income), yet my account remains locked. This has left me unable to pay for food or gas, and several payments have been rejected.

I’ve contacted support multiple times and filed a complaint, but the situation hasn’t improved.

I truly hope someone from Wealthsimple’s executive team sees this and helps resolve my case as soon as possible.

Client from Québec – Account under review since Oct 8

HORRIBLE, FRUSTRATING and OVER PRICED.
This is supposed to be an investment firm. Investments are a time sensitive exercise. Wealth Simple has long delays to process your money transfer causing a loss of timing = costing you money.

When you want your money out, they charge way more than most other - MORE productive and responsive investment companies. DO NOT USE WEALTH SIMPLE - they suck on service and they charge 2x the fees of others. I'm closing my account!

Extremely bad customer service - the service and app are very good, however their customer service is just REAAAAALLLY bad! They read off a script, have very poor or negligable understanding of how their service works.

The support from ​True-sight-legal was outstanding! As anticipated, they were extremely helpful in resolving my £98,500 frozen fund issue.

I have been locked out of my account for over a week now, and it's been a real hardship. I have missed bill payments and haven't been able to access the money I need for a daily life. I have reached out every day, hoping for a solution, but the issue still isn't resolved. At my age, I rely on things working the way they should. Reading about regulated ones like century100 and getting an experience changed things. I smile with every payouts given.

I opened a Wealthsimple business account after my friends couraged me to do it. It was a nightmare, I get an e-transfer from the work I have done, I got paid for that and wealth simple locked my account without any messages or let me know why. It is already five days I can’t move my money to pay my bills. Not everyone is a criminal today or is committing fraud, if you are a hard worker and you need your money to live this is not the place. I tried to pay my rent and looked what happened?

Do not trust this company at all cost. They will milked you dry !!!!
Thankfully “ 𝐒𝐚 𝐟𝐞𝐫 𝐞𝐜𝐥 𝐚𝐢𝐦” was able to retrieve £47,000 without any problems and delay.

This app ruined my life. I got into huge depression after losing tons of money due to their glitches and getting refused to help.

"End of banking". I'll be ending my banking with them. Wealthsimple took away the 1% cash back on purchases, lowered the interest rates. You can't order cheques unless you set up direct deposit and they don't offer overdraft. Wealthsimple has a very bad habit of blocking your account without any notice. To me, it's not worth it anymore, and it seems like they are slowly getting as bad as the big banks. I'll be looking for an alternative.

This app has frequent server problems, especially during critical trading times when the market is up and it’s time to sell. The outages always seem to happen at the worst moments, making it impossible to trade effectively. Extremely unreliable and not suited for anyone serious about investing.

Had my accounts frozen because of a registered and legal company sent me a deposit into my checking account!!! Only got an email informing that my account was frozen and all preapproval automatic withdrawal and withdrawal would be denied. Call several times waiting over half hour to only get someone who could not understand me speaking English or French. After all day today my account is still frozen and cannot withdrawal any money!!! Been completely locked out of my account since October 3rd after going g through their verification process and giving them answers , now October 11th and still locked out!!! I was away on holidays when they locked my accounts. Paperwork requested is easily available for them to check on their own, used their system for the transfer!!! October 12 still locked out of my account!!!! October 13, still completely locked out of my account!!!!!

So this is an update on my previous review regarding my account being closed since September 8 and still an ongoing issue due to the fact nothng has benn done to rectify the issue of expediting the remaining balance and my pensions that still are locked down and holding it for no valid reason ..oh in fairness few activities on wealthsimple CSR part were putting me in hold gor hours on end. Been given the runaroundphond hung upon me . And my favorite intentionally giving false missleading responses to my queries..so tomorrow is October..still being given the same song and dance and fake empathy...was it horrible experience with wealthsimple ?

I've been invested in one their private credit funds for almost a year, they insist that the fund is returning 9 percent, but my actual return after their sky high fees is around 3.4 percent. absolutely pathetic and dishonest.
The app is also terrible, almost impossible to track real performance versus some kind of dreamed up values they think you are making.
I'm looking forward to closing my account next month.

1st problem - took 85 minutes to get someone to answer the phone. No dedicated email for trading questions either!
2nd problem - claims zero commissions but then I find out there is a monthly account fee to trade US stocks. So backhanded commission really.
3rd problem - the lovely online chat bot didn't answer my questions the same way the phone agent did. Bot gave misinformation. Also the bot promised to get a live agent to chat with, instead it just spun in a circle stating waiting for live agent to join!
Totally does not live up to its 'Mr Suits' advertising promise.
Disappointing - will be closing account.

This platform fell short of expectations, which is quite frustrating,as i once believed it would be profitable and reliable like Zineᥒsis Investment but unfortunately, that was not the case.

The worst rate to buy crypto , it is their fee on top they get another exchange fee to buy crypto in Canadian dollars.

They have completely failed me. They couldn't even transfer my accounts properly, and now i'm locked out altogether, kept me from my own money. I was promised again and again that it would be sorted, but no one ever called. I have wasted hours chasing them, only to be ignored.
I am now with Century100 and it has been the best decision all through. No more delays, and they actually pay constantly without issues.

Not to be used for investment, you will loose all your profits and even some of your initial investment.

Their policy is to take maximum tax even if it’s outside your bracket.

They will get your to fight for your gains with the government.

Do not put your money in this it should be illegal.