Are my crypto holdings protected like my investments?

Generally no. Investor protection fund coverage typically does not extend to crypto assets. Confirm exactly what is covered for each product you hold — the distinction matters most precisely when something goes wrong.

My managed portfolio lost money — is that a complaint?

Market losses alone are not. A complaint arises where the portfolio did not match your recorded risk profile and objectives. Request your risk questionnaire and compare it to what you were holding.

Wealthsimple — Your Rights & How to Escalate a Matter

Wealthsimple: Your Rights

Wealthsimple offers managed and self-directed investing, plus crypto and cash products, and is CIRO-regulated for its investment business. Distinctively, crypto holdings are generally outside investor protection fund coverage — a difference many clients do not realise until there is a problem.

Matters Lawyers Handle in This Sector

Managed portfolio suitability and risk profiling
Self-directed platform and order issues
Crypto asset holdings and coverage limits
Account verification holds and restrictions
Transfer and withdrawal delays

Your Rights

A written complaint response within the regulated timeframe
Free escalation to OBSI for the regulated investment business
Clear disclosure of what coverage applies to which product
Access to your account records

How to Escalate a Matter

1Firm complaint process
First step, in writing.
2Ombudsman for Banking Services and Investments (OBSI)
Free independent review of the regulated investment business.
3CIRO
Conduct and compliance concerns.
4Provincial securities regulator
For registration and market conduct, including crypto trading platform obligations.

Escalation routes and their requirements change. Confirm the current process before relying on it.

Frequently Asked Questions

Are my crypto holdings protected like my investments?: Generally no. Investor protection fund coverage typically does not extend to crypto assets. Confirm exactly what is covered for each product you hold — the distinction matters most precisely when something goes wrong.
My managed portfolio lost money — is that a complaint?: Market losses alone are not. A complaint arises where the portfolio did not match your recorded risk profile and objectives. Request your risk questionnaire and compare it to what you were holding.

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This page is educational information about the regulatory framework and your options in this sector. It is not legal advice, contains no complaints, ratings, reviews or rankings, and makes no statement about the conduct of any organization. LegalCounselNearMe is not a law firm and is not affiliated with Wealthsimple.