Looking at the whole bunch of emerging stock brokers, one is surely to worry about their safety and legitimacy. Are you wondering if Wealthismple is a safe and legit broker? Here we have a quick answer for you.
It is a very common question that comes to any rational person who wants to trade. And as we can not directly trade on exchanges and need brokers to facilitate trade, therefore it becomes more important to check and verify whether the broker you are choosing is safe and legit.
Below are some pointers which will clear your doubt whether Wealthsimple is safe and legit, or not!
Wealthsimple is a division of Canadian ShareOwner Investment Inc., which is a wholly owned subsidiary of Wealthsimple. And as we know Wealthsimple is a trusted Canadian company founded in 2014 providing investment management service.
If we look at the business of Wealthsimple, it is very rich in terms of innovation and product offerings. They offer Socially responsible investment funds, sync between investment accounts to budgeting software, Wealthsimple Save, etc.
The Toronto based company has more than $5,000,000,000 in assets under management and are currently serving over 175,000 clients, who trust them.
Canadian ShareOwner Investment Inc. is a member of IIROC (Investment Industry Regulatory Organisation of Canada) and CIPF( Canadian Investor Protection Fund).
Being a member of CIPF, customers are provided protection of their account for upto upto $1,000,000.
So if anything happens, your account will be held with Canadain ShareOwner, their custodial broker, and will be protected in case of insolvency within the specified limits by CIPF.
As claimed by the company, they use data encryption tools and techniques while handling your financial data. A 2FA (two factor authentication) protection is also provided so that nobody else can access your trading account other than you.
Again deducing from the first point itself, we can conclude that Wealthsimple Trade is backed by Wealthsimple which is further backed by $265 million investments from few of the world's largest financial institutions like Power Financial Corporation, Portag3 Ventures, and IGM Financial Inc.
Even if you counter any problem, there is Wealthsimple health centre which will solve all your problems and queries whether it is about Tax support, investing, type of account, advice needed, add/change bank details, or the transfer of money.
From all the above mentioned pointers, we can conclude that Wealthsimple is safe and legit. It is regulated by CIPF and IIROC, gives protection to your account by CIPF, protects your financial information with a two-factor authentication process, and has a great help centre to resolve your queries and issues.
So, when safety and security is combined with zero-commission trading of stocks and ETFs, no account minimums and different account types to trade, Wealthsimple Trade is definitely one of the best online brokers in Canada.
Wondering, if Qtrade is safe and legit stock broker in Canada? Know details on the leading Canadian online trading platform and see how it adds up to the security layers and keeps customers satisfied.
Yes, Virtual Brokers is a safe online trading platform. Let's analyze the safety and security features that make the Virtual Brokers a popular platform.
Whether you choose a broker or invest in a bank, both of them can be crucial. Usually, the initial investors prefer banks and when they want more flexibility they invest in a broker to do all the middle work.
Yes, Interactive Brokers is available in Canada. It offers a wide variety of investment products, including stocks, bonds, options, futures, currency, etc., making it one of the best options for trading and investing.
TD Direct investing is good for investors who are pro in trading and investing, those is in need of real time market data to do research and construct tailored portfolios.
Are you wondering if a growing stock broker like Wealthsimple is good for beginners? Let's analyze the benefits of opening an account with Wealthsimple.
There are many alternatives to Thinkorswim in Canada. Some noteworthy platforms are Questrade, Wealthsimple & Scotia iTrade.
You cannot open a TD Ameritrade account in Canada unless you are an American or have US citizenship. So, if you are a Canadian citizen, you cannot open account with this US stock broker.
No, Zacks Trade is not available in Canada. Let's explore the list of countries where Zacks Trade platforms offers its services.
There are several choices available to Canadians who want to invest in the stock market online. Questrade ranks higher a sone of the best stock trading site for a beginner in Canada, offering access to both the Canadian and American stock markets.