In 2025, the investing landscape has evolved, and so have investors’ expectations. Gone are the days when high fees, outdated tools, and reactive customer service were acceptable. Today’s investors want platforms that are modern, low-cost, and empowering. For Canadians, Wealthsimple has emerged as a leader, setting itself apart with features that cater to the needs of both beginner and experienced investors.
This article explores why I’m moving the majority of my assets to Wealthsimple and why you might want to consider it, too. With no trading fees, sleek analytics tools, crypto support, and perks like free iPhones and MacBooks, Wealthsimple is redefining what it means to invest in the modern era. For those still tied to traditional brokerages like TD Direct Investing or CIBC Investor’s Edge, it might be time to rethink your options.
What Investors Want in 2025
Investors today are no longer willing to accept mediocre experiences or high costs. Here’s what they demand:
- Low or No Fees: Platforms like Wealthsimple, which offer commission-free trading, are highly attractive to cost-conscious investors.
- Proactive Customer Support: Modern investors expect customer service to go beyond troubleshooting, offering meaningful guidance and support.
- Advanced Analytics and Research Tools: Comprehensive tools that are intuitive and user-friendly are now essential for making informed investment decisions.
- Goal-Oriented Features: Perks like interest on uninvested cash, automated rebalancing, and crypto support are expected in a competitive platform.
- Crypto Trading: As digital assets continue to grow in importance, investors want platforms that enable easy and secure cryptocurrency trading. Wealthsimple has embraced this trend, while traditional brokerages like TD and CIBC still lag behind.
- Community and Educational Resources: Beyond tools and trading, investors want platforms that foster a sense of community and provide education. Wealthsimple’s blogs, webinars, and social media engagement help users feel connected and informed, something that traditional banks rarely offer.
- Rewards and Perks: Modern investors value tangible benefits. Wealthsimple’s free iPhone and MacBook promotions highlight a customer-centric approach that incentivizes loyalty while delivering value beyond standard services.
Traditional platforms like TD Direct Investing and CIBC Investor’s Edge fall short in many of these areas, highlighting the need for change in the industry.
Comparison of Canadian Online Brokerages
To understand why Wealthsimple stands out, here’s a comparison of Canada’s major online brokerage platforms:
| Feature | TD Direct Investing | CIBC Investor’s Edge | Questrade | Wealthsimple |
|---|---|---|---|---|
| Trading Fees | $9.99 per trade | $6.95–$9.95 per trade | $4.95–$9.95 per trade | $0 per trade |
| Annual Fees | $25/quarter if < $15k | $100/year if < $10k | None, inactivity fee possible | None |
| Research Tools | Basic, outdated | Basic | Advanced, customizable | Modern, limited |
| Investment Products | Stocks, ETFs, mutual funds | Stocks, ETFs, mutual funds | Stocks, ETFs, forex, bonds | Stocks, ETFs, crypto |
| Account Types | TFSA, RRSP, RESP, Cash | TFSA, RRSP, RESP, Cash | TFSA, RRSP, RESP, LIRA | TFSA, RRSP, Crypto |
| Customer Support | Reactive, good | Responsive, good | Highly rated, proactive | Friendly, goal-focused |
| Perks | None | None | None | Free iPhone/MacBook for transfer |
| Mobile App | Basic, functional | Functional, minimal | Comprehensive | Modern, sleek |
| USD Account Fees | None | None | None | Free if > $100k |
| Crypto Trading | No | No | Yes | Yes |
| Community Features | No | No | No | Blogs, webinars, resources |
Wealthsimple’s modern approach clearly sets it apart, while traditional players like TD and CIBC lag behind, clinging to outdated practices.
How Wealthsimple Makes Money
One of the most common questions about Wealthsimple is: How can they afford to operate without charging the fees that traditional brokerages do? The answer lies in their diversified revenue streams. Here’s how Wealthsimple generates income while maintaining its low-cost structure:
- Management Fees: Wealthsimple’s robo-advisory service, Wealthsimple Invest, charges an annual management fee of 0.4% to 0.5% of assets under management, depending on the account balance. This allows them to provide personalized portfolio management for investors.
- Currency Conversion Fees: When trading U.S.-listed securities, Wealthsimple applies a 1.5% currency conversion fee per transaction. This fee covers the cost of converting between Canadian and U.S. dollars.
- Cryptocurrency Transaction Fees: Wealthsimple Crypto charges an operational fee between 1.5% and 2% for cryptocurrency transactions. This fee ensures seamless buying and selling of digital assets.
- Interest on Cash Balances: Wealthsimple earns interest on uninvested cash held in client accounts, contributing to their revenue.
- Interchange Fees: With their Wealthsimple Cash product, the company issues Visa debit cards. Each time a client uses this card for purchases, Wealthsimple receives a portion of the interchange fee paid by merchants.
By diversifying their revenue sources, Wealthsimple sustains its operations without burdening customers with the hefty trading or account fees seen at traditional brokerages. This innovative approach aligns with their mission to make investing accessible and affordable for all.
Why I Am Moving to Wealthsimple
After over 15 years with TD Direct Investing, I’ve decided to transfer the majority of my funds to Wealthsimple. My decision wasn’t made lightly—it was the culmination of years of frustration with high fees, outdated tools, and a lack of meaningful engagement from TD.
The Problems with TD Direct Investing:
- High Trading Fees: Even at $9.99 per trade, the costs can add up quickly, particularly for active traders. Completing just 20 trades in a year amounts to nearly $200 in fees, and over a decade, that adds up to $2,000—a significant expense that could otherwise be invested or saved.
- Clunky Research Tools: TD’s tools are clunky and restrictive, failing to provide the insights I need.
- No Crypto Trading: In 2025, not offering cryptocurrency trading is a glaring oversight. TD doesn’t even have this on the roadmap by the looks of it.
- Zero Perks: Despite decades of loyalty, TD has never offered me tangible incentives to stay.
Why Wealthsimple is the Better Choice:
- No Trading Fees: With commission-free trading, I can trade freely without worrying about costs eating into my returns.
- Modern Tools: Wealthsimple’s sleek mobile app and intuitive analytics tools make investing a seamless experience.
- NOTE: While the platform currently lacks integrated research tools, much of this information is readily available online, often for free or at minimal cost, and can be easily supplemented with resources like chatbots such as ChatGPT.
- Crypto Support: Wealthsimple understands the importance of crypto and offers easy access.
- Community and Education: Their blogs, webinars, and resources help me stay informed and engaged in the investing process.
- Rewards and Perks: Wealthsimple has always plenty of rewards and perks such a 3.75% for cash accounts and a stock lending program. Their current promotion offers tangible rewards for transferring assets:
- Transfer $100,000–$299,999.99: Choose between an iPhone 16 (128GB) or a MacBook Air (13-inch, M2 chip).
- Transfer $300,000–$499,999.99: Opt for an iPhone 16 Pro (128GB) or a MacBook Pro (14-inch, M4 chip).
- Transfer $500,000+: Select an iPhone 16 Pro Max (1TB) or a MacBook Pro (14-inch, M4 Pro chip).
For more details, visit Transfer to Wealthsimple and get an iPhone or Mac. This offer is valid until December 13, 2024.
Conclusion
Wealthsimple isn’t just another brokerage—it’s a platform that prioritizes the needs of modern investors. From zero trading fees and crypto support to community-driven education and tangible rewards, Wealthsimple offers a fresh, customer-first approach to investing.
On the other hand, traditional brokerages like TD Direct Investing and CIBC Investor’s Edge have remained stagnant, focusing more on margins than on meaningful customer engagement. Their failure to embrace cryptocurrency trading or offer modern perks shows a disconnect from what today’s investors truly value.
For me, the choice was clear: I’m moving the majority of my assets to Wealthsimple because it aligns with my goals, values my loyalty, and empowers me to achieve financial freedom. If you’ve been frustrated by high fees, outdated platforms, or feeling undervalued by your current brokerage, now might be the time to consider making the switch.
The investing world is evolving, and Wealthsimple is leading the charge. Are you ready to join the future of investing?
Josh Nash 
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