Wealthsimple, a fintech barely a decade old, is quietly rewriting the rules of banking and investing in Canada. This article is a modest proposal for fellow Canadians who’ve grown tired of being nickel-and-dimed by their financial overlords. It’s part story, part reflection—and a few insights I hope you’ll find worth your time.
For twenty years, I worked to build a portfolio while TD—a $135 billion banking giant here in my home country of Canada—skimmed tens of thousands in commissions from my account. Ten bucks here, fifteen there, sometimes more. As indifferent to my success as a butcher is to the feelings of a chicken.
Every trade, every repositioning, every effort to grow my wealth came with a reminder of whose fortune was really being built. Over two decades, those small “service fees” added up to tens of thousands—money that could have compounded, invested, or even just sat quietly growing. Instead, it vanished into a machine that offered a clunky platform and a stunning display of institutional apathy in return.
In late 2024, after my wife received her permanent residency, we decided to make our way back to Canada and settle here for good. It felt like the right time to make smarter financial choices. After years of watching the same old system take and take, I wanted a platform that worked with me—not against me.
After doing my research, I landed on Wealthsimple—a company I’d only used for the occasional crypto trade. They were offering a free MacBook and $2,600 to transfer everything over. I figured, what do I have to lose?
(Spoiler: I’m never going back.)
Wealthsimple has felt far less like a bank and far more like a partner. Zero commissions. Zero banking fees. A clean interface. Transparent processes. For the first time, I feel part of a financial system that rewards initiative instead of punishing it.
After hundreds of trades, my total cost so far: $0. My old bank required $6,000 in a chequing account just to waive a $30 monthly fee. Wealthsimple pays 2.5% interest just for letting my cash sit still.
One institution takes from your balance. The other helps it grow. That difference—small as it may sound—is everything.
The Presentation That Changed Everything
On October 22, 2025, Wealthsimple held their second major “Wealthsimple Presents” event. These presentations have become must-watch events—like Tesla launches or Apple keynotes—except they’re happening in Canada, in the banking sector, which in the past had been as likely as finding a penguin in the Sahara.
Canadian banking has been synonymous with “boring but stable” for generations. Predictable, stodgy, about as exciting as watching paint dry. Wealthsimple looked at that tradition and said, “Hard pass.”
What they announced:
$0 Options Trading: Zero commissions. No contract fees. The only brokerage in Canada offering this.
Direct Indexing Portfolios: Own actual stocks instead of ETFs for sophisticated tax-loss harvesting. Previously available only to the wealthy.
Real Gold Trading: Physical gold starting at $1. Secure storage, home delivery, lowest fees in Canada.
Norbert’s Gambit: Coming January 2026—near-zero fee currency conversion built right in.
Summit Portfolio: Alternative investments including real estate, private equity, and private credit. Start at $10,000.
Plus: Over 100 cryptocurrencies at fees as low as 0.05%, mutual fund transfers with fees covered, and more.
RRSP Loans: And here’s where things get really clever.
The RRSP Loan That Actually Makes Sense
Traditional banks check your credit score, maybe lend you up to $50,000, charge interest, and wish you luck. This leaves out newcomers, younger investors, and anyone the algorithm doesn’t favor.
Wealthsimple’s approach? Collateralize against your existing portfolio—TFSA, non-registered accounts, whatever you’ve got. No credit gatekeeping. Borrow up to $280,000 depending on your portfolio. Interest rates between 4.2% and 5.2%, tied to Bank of Canada rates.
The intelligent part: flexible repayment. Monthly payments, lump sums, tax refunds, adjust as life happens. Can’t repay in cash? Transfer assets into your RRSP to settle. No margin calls. No forced liquidations.
You’ve got $100,000 in diversified investments? Borrow up to $28,000, max out your RRSP contribution room, claim a substantial tax deduction, receive perhaps an $8,000 refund, pay down the loan, and accelerate retirement savings without liquidating anything or triggering capital gains.
You’re a newcomer with substantial assets but no Canadian credit history? Transfer your investments to Wealthsimple, secure an RRSP loan, and start building retirement savings immediately.
Launches Q1 2026.
AI-Powered Trading Research: The Real Game Changer
Here’s what genuinely gets one excited: AI-powered stock research delivering real-time insights for actual trading decisions.
I’ve been using AI to build my portfolio for some time, mostly ChatGPT and Perplexity. But having these capabilities within an investment platform? It’s as Donald Trump would say, “Yuge!”
This is practical intelligence that answers the questions that actually matter: Should I buy? Should I add? Is it time to sell?
Instant Analysis: Integrated AI will be able to digest quarterly reports, news flows, and financials, and then serve you with actionable buy/sell/hold insights in seconds. When earnings drop, you’ll know what changed, what matters, and what it means for your position.
Natural Language Screening: “Show me undervalued Canadian tech stocks with improving margins.” Just ask. Conversationally. Integrated AI will surface new opportunities and help you decide if they deserve your capital.
Personalized Intelligence: With integrated AI, you’ll be able to analyze your holdings, your risk tolerance, your style. You’ll know when to rebalance, when positions are overweight, when fundamentals shift. Early warning intelligence will help you act rather than react.
Professional Tools for Everyone: Bloomberg Terminal costs $25,000 annually. Wealthsimple is bringing similar capabilities at no additional cost.
It’s not entirely clear exactly what will initially be included, but we can anticipate regular additions and updates, with quick iterations as Wealthsimple does. In recent months I’ve come to learn that this company is incredibly receptive to customer feedback and acts quickly. That’s another thing I love versus traditional banks, which almost never added what I wanted—and if they did, it took years.
What I want—what every serious investor wants—is real-time AI insights valuable enough to inform actual trading decisions. Specific, actionable intelligence: This stock beat expectations but lowered guidance—here’s what that means for your position. This sector is showing momentum reversal—consider trimming exposure.
That’s what changes investing from educated guessing to informed decision-making.
Breaking the Cultural Norm
Wealthsimple is proving you can build exciting, innovative financial services in Canada. When was the last time you were excited about anything TD or CIBC announced, other than increasing fees? When was the last time RBC or BMO made you think about the future, and feel optimism about it?
This is what software and initiative can do when combined with willingness to break cultural norms. Monthly feature releases. Expanding products. AI capabilities. Elimination of profit-center fees. This is transformation actually happening rather than being promised in quarterly reports.
Canadian technology and the banking sector just got interesting.
The Revolution in Your Pocket
Moving all my assets to Wealthsimple was nerve-wracking but liberating. For the first time in twenty years, the system worked with me.
The traditional banks had decades to evolve. They chose comfortable profits over customers. They chose stagnation over progress. They chose to charge you for holding your money.
Wealthsimple chose differently. Software over tradition. Innovation over comfort. Paying you interest instead of charging fees. Making Canadian fintech something worth watching, worth using, worth believing in.
For avid investors grinding away at portfolios, for beginners taking financial futures seriously, for anyone who’s felt the system was designed to extract rather than empower—these are genuinely exciting times.
The revolution won’t be televised, but it’s available on your phone: zero commissions, AI-powered research, 2.5% interest on cash, and monthly announcements that make you excited about the future of Canadian finance.
As Canadians, we have exciting things ahead, at least in terms of our personal finances. Finally. Thanks to Wealthsimple.
If you’re ready to move beyond ordinary banking—high fees, slow tech, and outdated systems—and explore a smarter path to wealth management in Canada, check out Wealthsimple.
Josh Nash 
Leave a comment