Wealthsimple is currently beta testing support for passkeys, a major security upgrade that allows users to log in without a password. The feature is appearing for a select number of users in the app, promising a faster and more secure way to access accounts using device biometrics.
Passkeys replace traditional passwords with cryptographic keys stored directly on your iPhone or Android device. Instead of typing a password or waiting for a 2-factor authentication (2FA) code, you simply unlock the app using Face ID, Touch ID, or your device passcode.
According to beta screenshots shared by users, Wealthsimple is highlighting three core benefits. Instant Access is faster than typing passwords and safer than traditional credentials. Maximum Security provides built-in protection that is resistant to phishing and password breaches. Additionally, Cross-Device Support allows passkeys to be added to password managers like 1Password or Apple’s iCloud Keychain for seamless login across all your devices. Passkeys remove passwords out of the equation, so fraudsters can’t login to your Wealthsimple account unless they have access to your Touch ID or Face ID, which is pretty darn difficult.
There is currently some confusion regarding how many passkeys a user can store. While the in-app beta screens state users can “create up to three passkeys,” Wealthsimple’s official FAQ (updated January 27, 2026) explains that users can “set up to five passkeys” on their account. It is likely that the limit will be finalized at five as the feature moves out of beta.
To participate in the beta, Canadians must use a device and browser that supports the FIDO2 standard. Wealthsimple also notes that users must currently use SMS or an authenticator app for 2FA to set up a passkey; those still using email-based 2FA will need to upgrade their security settings first.
If you lose a device, Wealthsimple says your email and password will remain available as a backup. The company also plans to allow 2FA to be used alongside passkeys in a future update for those who want an extra layer of protection.
While the feature is still in a limited rollout, Wealthsimple says clients can contact their support team to request early access. You can click here to sign up for Wealthsimple and get a free $25 bonus.
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