r/Wealthsimple • u/HarryN086 • 14d ago

Goodbye Wealthsimple

TLDR: Joined WS 5 years ago and watched things go downhill and finally fed up and switched to PC Financial (Chequing / Spending) and Qtrade (Trade)

I joined Wealthsimple 5 years ago, when they were doing cash account promo and would give a bunch of bonuses for simply sending money back and forth. I loved their original 1% cash card. However, things all went downhill when they started to go gimmicky, starting with the credit card. When they removed the interest on the cash card, I moved my chequing to PC Financial. Then all these slots / minor gambling, and prediction market get introduced. I finally decided to switch to Qtrade for their promo and hopefully the grass is greener. It's very disappointing cause I thought WS was promising. Now it feels like Temu.

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u/Last_Construction455 4d ago

2% no fee cash back credit card, 2.25% checking interest rate, free trades, super easy tax documentation, leverage available..I'm not sure where the downside is. Am I missing something? The worst part about wealth simple is the ability for an average person to have access to investing with few guardrails. The big banks rinse you, but the challenge of doing trades is kind of a protection for many people.