wealthsimple

User Experience Report

Week of May 26th, 2025

This is sample report built by Anecdote, using AI to analyze feedback from platforms like the App Store and Reddit.

Highlights trends and insights

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All Insights

TOP INSIGHTS

A weekly roundup of wealthsimple's key feedback

App Stability Issues

A significant number of users report frequent app crashes and instability, especially during critical trading times, affecting approximately 20% of users. This instability can lead to missed trading opportunities and financial losses.

The app crashes before login more than 95% of the time, making it unusable.

Delayed Order Execution

Users experience delays in order execution, with some orders taking excessively long to fill, impacting around 15% of users. This delay can result in unfavorable trade prices and missed opportunities.

Market orders take too long to fill, sometimes up to 30 minutes, causing missed price points.

High Fees and Costs

Many users are concerned about high fees, particularly for currency conversion and options trading, affecting approximately 10% of users. These fees can significantly impact profitability, especially for frequent traders.

The fees on options are quite high, and the FX fees make trading US stocks expensive.

Poor Customer Support

Users report slow and ineffective customer support, with some issues taking days to resolve, affecting about 5% of users. This lack of timely assistance can lead to frustration and unresolved problems.

Technicians take a long time to respond and don't resolve issues, leaving users to handle problems themselves.

COMPETITORS ANALYSIS

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#1 USERS CHOICE

wealthsimple

Wealthsimple receives mixed feedback. Users appreciate its ease of use, high-interest savings, and cashback features, but criticize its high FX fees, delayed quotes, and app glitches. Many users find it suitable for long-term investments but not for day trading or options trading.

#2 RUNNER UP

Betterment

Betterment is praised for its user-friendly interface and effective investment strategies, making it a favorite among beginners. However, some users express a desire for more advanced features and tools to enhance their investment experience.

#3 Straggler

Acorns

Acorns is well-received for its simplicity and innovative approach to micro-investing, appealing to users who prefer automated savings. Some users, however, wish for more customization options and lower fees to maximize their investment returns.

Nuggets

Major Highlights of the Week

Delayed Order Execution

Users experience significant delays in order execution, even for small trades, leading to missed opportunities and financial losses. This inefficiency undermines the platform's reliability for active traders.

Market orders take too long to fill, causing missed trades and financial losses.

Inaccurate Graphs

The app's graphs are overly smoothed and fail to accurately represent market fluctuations, misleading users about their portfolio performance. This lack of precision can hinder informed decision-making.

Graphs don't show daily dips, misleading users about actual performance.

App Crashes

Frequent app crashes, especially during high market activity, prevent users from accessing their accounts and executing trades, leading to potential financial losses. This instability is a critical flaw for a financial app.

App crashes during big market moves, preventing timely trades.

Poor Customer Support

Users report slow and ineffective customer support, with unresolved issues persisting for extended periods. This lack of responsiveness damages user trust and satisfaction.

Technicians take too long to respond and don't resolve issues.

High FX Fees

The app imposes high foreign exchange fees, which significantly impact users trading in USD, reducing the platform's cost-effectiveness. This fee structure is a deterrent for users seeking competitive trading costs.

FX fees are really high, affecting cost-effectiveness for USD trades.

Limited Features

The app lacks advanced trading features and customization options, such as trailing stop loss and detailed watchlists, limiting its appeal to more sophisticated investors. This restricts the app's usability for complex trading strategies.

Needs trailing stop loss and customizable watchlists for advanced trading.

Nuggets

Major Highlights of the Week

Everything you need to know about user experience

Delayed Order Execution

Inaccurate Graphs

App Crashes

Poor Customer Support

Users report slow and ineffective customer support, with unresolved issues persisting for extended periods. This lack of responsiveness damages user trust and satisfaction.

High FX Fees

Limited Features

Quotes of the week

Hear from some of the most impactful users to drive changes

The app is constantly being updated and new glitches are being introduced! Quality control is missing.

HooTooNotWorking

Week of May 26th, 2025

Love Wealthsimple but it's too hard to place trades. Need the ability to just re-place a trade that was just cancelled & modify every detail before doing so. Also, needs a trailing stop loss feature.

goldenviking

Week of May 26th, 2025

Wealthsimple is only good for Canadian Stock. It has lots of limitations like no Norbert Gambit, no dual-listed stocks, and no MasterCard Credit Card.

Arribbo

Week of May 26th, 2025

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The quotes of the week

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The app is constantly being updated and new glitches are being introduced! Quality control is missing.

Candice Wu

App Store

Love Wealthsimple but it's too hard to place trades. Need the ability to just re-place a trade that was just cancelled & modify every detail before doing so. Also, needs a trailing stop loss feature.

Kelly Williams

Google Play

Wealthsimple is only good for Canadian Stock. It has lots of limitations like no Norbert Gambit, no dual-listed stocks, and no MasterCard Credit Card.

Koray Okumus

Google Play

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User Experience Report

wealthsimple

Top Insights This Week

App Stability Issues

Delayed Order Execution

High Fees and Costs

Poor Customer Support

Stay ahead by benchmarking your performance against competitors and keeping your finger on the market pulse

Start your 14-day free trial

Major Highlights of the Week

Major Highlights of the Week

Hear from some of the most impactful users to drive changes

Start your 14-day free trial today

The quotes of the week

Discover Anecdote’s all-in-one customer experience management platform

Search through all your feedback, instantly

Use AI to automate and prioritize your feedback analysis

Send surveys and analyze them with AI

Segment feedback from your company in charts and summaries

Benchmark your company's feedback against your competitors

Stay on top of your feedback with alerts