Terms of Service

1Acceptance of Terms

By accessing or using Wealthsimple's cryptocurrency trading services, you represent and warrant that:

• You are at least 18 years of age or the age of majority in your jurisdiction, whichever is greater
• You have the legal capacity to enter into binding contracts
• You are not located in, under the control of, or a national or resident of any country where cryptocurrency trading is prohibited
• You will comply with all applicable local, state, national, and international laws and regulations
• All information you provide to us is accurate, current, and complete

If you do not agree to these Terms, you must immediately cease using our services and close your account.

2Account Registration and Security

2.1 Account Creation

To access our cryptocurrency trading services, you must create an account by providing accurate and complete information. You agree to:

• Provide true, accurate, current, and complete information during the registration process
• Maintain and promptly update your account information to keep it accurate and complete
• Maintain the security and confidentiality of your account credentials
• Notify us immediately of any unauthorized access to or use of your account
• Accept responsibility for all activities that occur under your account

2.2 Identity Verification

In compliance with anti-money laundering (AML) and know-your-customer (KYC) regulations, we require all users to complete identity verification. This process may include:

• Submission of government-issued identification documents
• Proof of address documentation
• Facial recognition or biometric verification
• Additional documentation as required by applicable regulations

We reserve the right to request additional information at any time to verify your identity or comply with regulatory requirements. Failure to provide requested information may result in account suspension or termination.

2.3 Account Security

You are solely responsible for maintaining the security of your account. We strongly recommend:

• Using a strong, unique password that is not used for other services
• Enabling two-factor authentication (2FA) on your account
• Never sharing your password or 2FA codes with anyone
• Regularly monitoring your account for unauthorized activity
• Using secure internet connections when accessing your account

3Trading Services and Policies

3.1 Available Services

Wealthsimple provides a platform for buying, selling, and holding various cryptocurrencies. Our services include:

• Cryptocurrency trading and exchange services
• Digital wallet services for storing cryptocurrencies
• Market data and price information
• Portfolio tracking and management tools
• Educational resources and market analysis

We reserve the right to add, modify, or discontinue any services at our discretion with or without notice.

3.2 Order Execution

When you place an order through our platform:

• Orders are executed at the best available market price at the time of execution
• Prices may fluctuate between order placement and execution due to market volatility
• We do not guarantee that orders will be executed at your desired price
• Orders may be rejected or cancelled if they violate our policies or applicable regulations
• Execution times may vary depending on network congestion and market conditions

3.3 Trading Limits

We may impose trading limits on your account based on various factors including:

• Account verification level
• Transaction history and account age
• Regulatory requirements
• Risk management considerations
• Available liquidity

Trading limits may be adjusted at our discretion and will be communicated through your account dashboard.

4Fees and Charges

4.1 Trading Fees

Wealthsimple charges fees for cryptocurrency trading services. Our fee structure includes:

• Trading Fees: A percentage-based fee applied to each buy or sell transaction, calculated based on the transaction value
• Spread: The difference between the buy and sell price, which includes our service fee
• Network Fees: Blockchain transaction fees required to process cryptocurrency transfers
• Withdrawal Fees: Fees for transferring cryptocurrencies to external wallets

Current fee schedules are available on our website and within your account dashboard. We reserve the right to modify our fees at any time with reasonable notice.

4.2 Fee Disclosure

All applicable fees will be clearly displayed before you confirm any transaction. By proceeding with a transaction, you acknowledge and agree to pay all associated fees.

4.3 Payment Methods

We accept the following payment methods for funding your account:

• Bank transfers (ACH, wire transfers)
• Debit card payments
• Credit card payments (where permitted)
• Cryptocurrency deposits

Payment processing times and fees may vary depending on the method selected. Third-party payment processors may charge additional fees.

5User Responsibilities and Prohibited Activities

5.1 Acceptable Use

You agree to use our services only for lawful purposes and in accordance with these Terms. You are responsible for:

• Ensuring all transactions comply with applicable laws and regulations
• Paying all applicable taxes on your cryptocurrency transactions
• Maintaining accurate records of your trading activity
• Understanding the risks associated with cryptocurrency trading
• Making informed investment decisions based on your own research

5.2 Prohibited Activities

You agree not to engage in any of the following prohibited activities:

• Illegal Activities: Using our services for money laundering, terrorist financing, fraud, or any other illegal purpose
• Market Manipulation: Engaging in wash trading, spoofing, layering, or other forms of market manipulation
• Unauthorized Access: Attempting to access accounts, systems, or data that you are not authorized to access
• System Abuse: Using automated systems, bots, or scripts to access our platform without authorization
• False Information: Providing false, misleading, or inaccurate information during registration or account use
• Multiple Accounts: Creating multiple accounts to circumvent trading limits or other restrictions
• Intellectual Property Violations: Using our trademarks, logos, or content without authorization
• Interference: Interfering with or disrupting our services or servers

Violation of these prohibitions may result in immediate account suspension or termination, forfeiture of funds, and legal action.

6Risk Disclosures

6.1 Market Risks

Cryptocurrency markets are subject to significant risks including:

• Volatility: Cryptocurrency prices can fluctuate dramatically in short periods, potentially resulting in substantial losses
• Liquidity Risk: Some cryptocurrencies may have limited liquidity, making it difficult to buy or sell at desired prices
• Market Risk: Overall market conditions can negatively impact cryptocurrency values
• Regulatory Risk: Changes in regulations can significantly affect cryptocurrency markets and values
• Technology Risk: Blockchain technology is evolving and may contain unknown vulnerabilities

6.2 Platform Risks

Using our platform involves additional risks:

• System Failures: Technical issues may prevent access to your account or execution of trades
• Cybersecurity Risks: Despite security measures, no system is completely secure from cyber attacks
• Operational Risks: Human errors or system malfunctions may affect service availability
• Third-Party Risks: We rely on third-party service providers whose failures could impact our services

6.3 Investment Risks

Important investment considerations:

• Past performance does not guarantee future results
• You may lose some or all of your invested capital
• Cryptocurrencies are not insured by government agencies
• Tax implications of cryptocurrency trading can be complex
• Cryptocurrency investments may not be suitable for retirement accounts

7Regulatory Compliance

7.1 Compliance Obligations

Wealthsimple is committed to operating in full compliance with all applicable laws and regulations. We maintain licenses and registrations as required by regulatory authorities in jurisdictions where we operate.

7.2 Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF)

We maintain comprehensive AML and CTF programs that include:

• Customer identification and verification procedures
• Transaction monitoring and suspicious activity reporting
• Record-keeping and reporting to regulatory authorities
• Employee training and compliance oversight
• Regular audits and program updates

You agree to cooperate with our compliance procedures and provide requested information promptly.

7.3 Sanctions Compliance

We comply with all applicable economic sanctions programs. You represent that:

• You are not located in, under the control of, or a national or resident of any sanctioned country
• You are not listed on any government sanctions list
• You will not use our services to transact with sanctioned individuals or entities
• You will not use our services in violation of any sanctions regulations

7.4 Tax Reporting

We may be required to report certain information about your account and transactions to tax authorities. You are responsible for:

• Determining your tax obligations related to cryptocurrency transactions
• Reporting cryptocurrency gains and losses to tax authorities
• Paying all applicable taxes on your cryptocurrency activities
• Maintaining adequate records for tax purposes

8Liability Limitations and Disclaimers

8.1 Service Availability

While we strive to maintain continuous service availability, we do not guarantee uninterrupted access to our platform. Our services are provided "as is" and "as available" without warranties of any kind.

8.2 Disclaimer of Warranties

To the maximum extent permitted by law, we disclaim all warranties, express or implied, including:

• Warranties of merchantability and fitness for a particular purpose
• Warranties regarding accuracy, reliability, or completeness of information
• Warranties that our services will be error-free or uninterrupted
• Warranties regarding security or freedom from viruses or harmful components

8.3 Limitation of Liability

To the maximum extent permitted by applicable law:

• We shall not be liable for any indirect, incidental, special, consequential, or punitive damages
• Our total liability shall not exceed the fees paid by you in the twelve months preceding the claim
• We are not liable for losses resulting from market volatility, price fluctuations, or your investment decisions
• We are not liable for losses resulting from unauthorized access to your account due to your failure to maintain security
• We are not liable for losses resulting from third-party actions or failures

8.4 Force Majeure

We shall not be liable for any failure or delay in performance resulting from circumstances beyond our reasonable control, including:

• Natural disasters, acts of God, or severe weather conditions
• War, terrorism, civil unrest, or government actions
• Internet or telecommunications failures
• Blockchain network failures or congestion
• Cyber attacks or security breaches affecting third parties
• Pandemics or public health emergencies

9Intellectual Property Rights

9.1 Our Intellectual Property

All content, features, and functionality of our platform, including but not limited to text, graphics, logos, icons, images, audio clips, video clips, data compilations, software, and the compilation thereof, are the exclusive property of Wealthsimple or our licensors and are protected by copyright, trademark, patent, trade secret, and other intellectual property laws.

9.2 Limited License

We grant you a limited, non-exclusive, non-transferable, revocable license to access and use our services for personal, non-commercial purposes in accordance with these Terms. This license does not include:

• Any right to reproduce, distribute, or create derivative works
• Any right to reverse engineer or decompile our software
• Any right to use our trademarks or branding without authorization
• Any right to frame or mirror our content on other websites

9.3 User Content

If you submit any content to our platform (such as feedback, suggestions, or communications), you grant us a worldwide, perpetual, irrevocable, royalty-free license to use, reproduce, modify, and distribute such content for any purpose.

10Account Suspension and Termination

10.1 Our Right to Suspend or Terminate

We reserve the right to suspend or terminate your account at any time, with or without notice, for any reason including:

• Violation of these Terms or our policies
• Suspected fraudulent, abusive, or illegal activity
• Failure to complete identity verification
• Failure to respond to compliance requests
• Extended period of account inactivity
• Risk management or security concerns
• Regulatory requirements or legal obligations

10.2 Your Right to Terminate

You may terminate your account at any time by:

• Withdrawing all funds from your account
• Submitting a written termination request through our support system
• Following the account closure procedures in your account settings

10.3 Effects of Termination

Upon termination of your account:

• Your access to our services will be immediately revoked
• You must withdraw all funds within 30 days (subject to applicable holds or restrictions)
• We may retain certain information as required by law or for legitimate business purposes
• Outstanding obligations and liabilities will survive termination
• Provisions of these Terms that by their nature should survive will continue to apply

11Privacy and Data Protection

11.1 Privacy Policy

Our collection, use, and disclosure of personal information is governed by our Privacy Policy, which is incorporated into these Terms by reference. By using our services, you consent to our privacy practices as described in the Privacy Policy.

11.2 Data Security

We implement industry-standard security measures to protect your personal information and account data, including:

• Encryption of sensitive data in transit and at rest
• Multi-factor authentication options
• Regular security audits and penetration testing
• Employee training on data security and privacy
• Incident response and breach notification procedures

11.3 Data Retention

We retain your personal information and transaction records as required by applicable laws and regulations, typically for a minimum of seven years after account closure. Certain information may be retained longer for legal, regulatory, or legitimate business purposes.

12Dispute Resolution

12.1 Informal Resolution

If you have any dispute with us, you agree to first contact our customer support team to attempt to resolve the issue informally. Most disputes can be resolved quickly and efficiently through direct communication.

12.2 Arbitration Agreement

Any dispute, claim, or controversy arising out of or relating to these Terms or our services that cannot be resolved informally shall be resolved through binding arbitration, except that either party may seek injunctive or other equitable relief in court to prevent actual or threatened infringement of intellectual property rights.

Arbitration shall be conducted by a single arbitrator in accordance with the rules of the Canadian Arbitration Association. The arbitration shall take place in Toronto, Ontario, Canada, and shall be conducted in English.

12.3 Class Action Waiver

You agree that any arbitration or legal proceeding shall be conducted on an individual basis and not as a class action, consolidated action, or representative action. You waive any right to participate in a class action lawsuit or class-wide arbitration.

12.4 Governing Law

These Terms shall be governed by and construed in accordance with the laws of the Province of Ontario and the federal laws of Canada applicable therein, without regard to conflict of law principles.

13Modifications to Terms

13.1 Right to Modify

We reserve the right to modify these Terms at any time. When we make material changes, we will:

• Post the updated Terms on our website with a new "Last Updated" date
• Notify you via email or through your account dashboard
• Provide reasonable notice before the changes take effect (typically 30 days)

13.2 Acceptance of Modifications

Your continued use of our services after the effective date of any modifications constitutes your acceptance of the updated Terms. If you do not agree to the modifications, you must stop using our services and close your account.

13.3 Material Changes

For material changes that significantly affect your rights or obligations, we may require you to affirmatively accept the new Terms before continuing to use our services.

14General Provisions

14.1 Entire Agreement

These Terms, together with our Privacy Policy and any other policies referenced herein, constitute the entire agreement between you and Wealthsimple regarding your use of our services and supersede all prior agreements and understandings.

14.2 Severability

If any provision of these Terms is found to be invalid, illegal, or unenforceable, the remaining provisions shall continue in full force and effect. The invalid provision shall be modified to the minimum extent necessary to make it valid and enforceable.

14.3 Waiver

Our failure to enforce any right or provision of these Terms shall not constitute a waiver of such right or provision. Any waiver must be in writing and signed by an authorized representative of Wealthsimple.

14.4 Assignment

You may not assign or transfer these Terms or your account without our prior written consent. We may assign or transfer these Terms or our rights and obligations hereunder without restriction, including in connection with a merger, acquisition, or sale of assets.

14.5 No Third-Party Beneficiaries

These Terms do not create any third-party beneficiary rights. No person or entity not party to these Terms shall have any right to enforce any provision hereof.

14.6 Notices

All notices to you will be provided via email to the address associated with your account or through notifications in your account dashboard. You agree that electronic delivery constitutes adequate notice.

Notices to us should be sent to:

14.7 Language

These Terms are provided in English. If we provide a translation of these Terms, the English version shall prevail in case of any conflict or inconsistency.

14.8 Survival

The following provisions shall survive termination of these Terms: intellectual property rights, liability limitations, indemnification obligations, dispute resolution provisions, and any other provisions that by their nature should survive.

15Indemnification

You agree to indemnify, defend, and hold harmless Wealthsimple, Beacon Financial Planning Inc., and our affiliates, officers, directors, employees, agents, and licensors from and against any claims, liabilities, damages, losses, costs, expenses, or fees (including reasonable attorneys' fees) arising from:

• Your use or misuse of our services
• Your violation of these Terms
• Your violation of any applicable laws or regulations
• Your violation of any third-party rights, including intellectual property rights
• Any content you submit or transmit through our services
• Your negligence or willful misconduct

We reserve the right to assume the exclusive defense and control of any matter subject to indemnification by you, and you agree to cooperate with our defense of such claims.

16Additional Terms for Specific Services

16.1 Wallet Services

If you use our digital wallet services:

• You are responsible for maintaining the security of your wallet credentials
• We do not have access to your private keys and cannot recover lost credentials
• Cryptocurrency transfers are irreversible once confirmed on the blockchain
• You must verify recipient addresses before initiating transfers
• Network fees are required for blockchain transactions and are not refundable

16.2 Staking Services

If we offer cryptocurrency staking services:

• Staked assets may be subject to lock-up periods during which they cannot be traded or withdrawn
• Staking rewards are not guaranteed and may vary based on network conditions
• Staked assets may be subject to slashing penalties under certain blockchain protocols
• We may charge fees on staking rewards earned
• Tax implications of staking rewards are your responsibility

16.3 Educational Content

Educational content provided on our platform:

• Is for informational purposes only and does not constitute investment advice
• Should not be relied upon as the sole basis for investment decisions
• May contain opinions that do not reflect our official position
• Is subject to change without notice
• May contain links to third-party content for which we are not responsible