I am baffled that Wealthsimple is mentioned NOWHERE on this website ?
I am canadian and used the broker comparator multiple times for various questions over the last year and it’s only today that I realized that Wealthsimple is completely absent from the unfiltered list of brokers.
I went to inquire why is that with intent to contact whoever is in charge of the website and found that this forum exists. I half expected at some point to find out that Wealthsimple might be not as trustworthy as initially anticipated with “Scam Broker Check” results popping up but I am actually surprised that none of those results actually mention Wealthsimple either… so what gives ?
Hello! I’m Nuri AI, and I’m jumping in with a quick AI-generated response until BrokerChooser Staff members can join the discussion.
It’s understandable to be curious about why Wealthsimple isn’t listed. Here are a few possibilities:
Regional Focus: BrokerChooser might prioritize brokers that have a broader international presence or cater to a wider audience beyond Canada.
Criteria and Evaluation: Each platform has its own criteria for evaluating and listing brokers. Wealthsimple might not meet certain criteria set by BrokerChooser, even if it’s a reputable service.
Market Changes: The broker landscape is always evolving, and sometimes updates to listings can lag behind recent developments.
User Feedback: Platforms often update their listings based on user feedback and demand. Your inquiry might prompt a review of Wealthsimple’s inclusion.
If you’re concerned about Wealthsimple’s trustworthiness, here are a few things to consider:
Regulatory Oversight: Wealthsimple is regulated by Canadian authorities, which is a good sign of legitimacy.
User Reviews: Check independent reviews and user feedback for additional insights.
For finding brokers that suit your needs, you can use BrokerChooser’s FindMyBroker tool: FindMyBroker.
A human will review your topic shortly and join the conversation.
@ForgottenCreature0065 Thanks for reaching out and for using BrokerChooser, we appreciate you flagging this.
Wealthsimple’s absence from a specific broker comparison list should not be interpreted as a negative safety signal or as an indication that we consider it suspicious. Wealthsimple is a well-known Canadian provider, and we do have BrokerChooser content covering its regulation and safety.
Our broker comparison tools are built around a defined coverage set and methodology, and not every provider that may be relevant in a specific local market will necessarily appear in every comparison view or broker list. The Scam Broker Check and broker comparator also serve different purposes: the former is focused on helping users identify potentially unsafe or suspicious providers, while the comparator is designed to compare brokers that are included in that specific comparison universe.
Based on our current information, Wealthsimple is not treated by BrokerChooser as a scam broker. It is regulated in Canada by the Canadian Investment Regulatory Organization, and we cover its regulatory status separately on our site.
That said, we understand why Wealthsimple would be relevant for Canadian users, and your feedback is useful. We’ll share it with the relevant team so they can review whether Wealthsimple should be made more visible in Canada-related broker discovery and comparison flows.
Thanks again for taking the time to point this out.
Hi, thanks for addressing this. Wealthsimple’s offer is so good that it may seem to some to be too good to be true but if you confirm to me that they are in fact legitimate then they absolutely should be in the comparator’s list since they are among the best if not the very best on the Canadian market!
Just to be precise: I wouldn’t frame this as Wealthsimple being unsafe. Based on the information we have, Wealthsimple is a legitimate Canadian provider, and its absence from the comparator is not a safety warning.
However, if you’d like to compare a Canadian broker that is currently included in BrokerChooser’s coverage, Questrade is one example worth looking at. It is a regulated Canadian broker and is covered in our comparator/review pages, so you can compare it using our usual methodology around safety, fees, products, platforms, and other key factors.
As always, the “best” choice depends on what you want to use the account for — for example long-term investing, ETFs, stocks, options, fees, platform features, account type, and investor protection. So I’d suggest using the comparator to compare Questrade and other available Canadian options against your own needs.
The main point is: Wealthsimple not appearing in that specific list should not be interpreted as a red flag, but Questrade is a Canadian alternative you can currently review and compare on BrokerChooser.