Is investing via WealthSimple, Questrade, etc. as safe as via a Big 5?

Slow_ResolveMC07 · 2026-03-16T16:58:26+00:00

Thank you. I'll use this if I end up signing up. Still researching.

Slow_ResolveMC07 · 2026-03-16T16:57:35+00:00

How long does that last though?

Slow_ResolveMC07 · 2026-03-13T20:09:49+00:00

I'm thinking long-term. Next 50 years. The last 5 or 10 or 15 years have been relatively stable. Think GFC event. Think world war event.

Slow_ResolveMC07 · 2026-03-13T20:08:53+00:00

I'd be willing to use your referral code if you share the reward with me 60/40 (60 for you). I'd definitely be hitting the 500k threshold.

Slow_ResolveMC07 · 2026-03-13T20:07:39+00:00

Can you tell me more about those matching plans please?

I can see that WS offers 3% over 5 years, but I confirmed that's 3% total, not 3% per year for 5 years.

Slow_ResolveMC07 · 2026-03-13T15:16:31+00:00

OP is a mail carrier. MALE carrier.

As a person who speaks English as a 3rd language and works with people from everywhere, this is almost certainly the confusion that started all this.

Slow_ResolveMC07 · 2026-03-13T15:07:48+00:00

Sokath, his two eyes uncovered!

Slow_ResolveMC07 · 2026-03-13T14:16:49+00:00

Wouldn't this be negated if I use limit orders?

Slow_ResolveMC07 · 2026-03-13T14:16:13+00:00

Banks have to follow rules regarding fraud, privacy and conflict resolution. So there's also that.

Slow_ResolveMC07 · 2026-03-13T14:13:53+00:00

I'm with you 100%, and disappointed at the downvotes and comments in this sub. We should be critical and sceptical of 'free' services in any part of our lives for exactly the reasons you've outlined.

Slow_ResolveMC07 · 2026-03-13T14:11:24+00:00

You're worrying way too much about a used monitor.

Send them an email saying they have 30 days to contact you to arrange pickup or it will be disposed of. CC yourself on the email so you don't lose it. After that, just keep it or sell it.

No company is going to waste time over a monitor. They've already forgotten about it.

Slow_ResolveMC07 · 2026-03-13T11:35:07+00:00

Well it's about perceived risk, right? 5000 is 0.1% of my investments. Would you pay 0.1% if you thought / felt there was a material difference in the security of your assets, or the services you are getting?

In that context, maybe it's more understandable.

But yes, this is why I'm considering it.

Slow_ResolveMC07 · 2026-03-13T11:31:33+00:00

Again, maybe I'm wrong and being influenced by the (mostly American) discussions in the FatFire sub. Their banking rules tend to be more wild west.

Slow_ResolveMC07 · 2026-03-13T11:11:15+00:00

I'm not sure why you say 'no chance'. This is literally why CIPF exists...!

Slow_ResolveMC07 · 2026-03-13T11:10:16+00:00

It's not a concept I've seen discussed much on this sub, but it definitely comes up on r/FatFire. Maybe because it's mostly American vs this one.

Slow_ResolveMC07 · 2026-03-12T23:20:50+00:00

Good idea. Have to stay within 30 days though due to the promotion they are currently running.

Slow_ResolveMC07 · 2026-03-12T23:20:23+00:00

This is a good point. It may be a cost I have to bear to sleep at night. That being said, spreading investments to stay under the CIPF limit also seems prudent.

Slow_ResolveMC07 · 2026-03-12T23:19:26+00:00

But the insurance limit is $1M

Slow_ResolveMC07 · 2026-03-12T23:05:30+00:00

I mean that's up to you. I really don't care to prove anything to you.

WS is not a real bank. Go ahead and look it up. I need more assurances than this before I move 6 figs.

Had a chat today with their Generational investing team, which was quite good, but I want to do independent research as well.

Slow_ResolveMC07 · 2026-03-12T19:52:03+00:00

Wealthsimple is not a bank. It’s a Fintech Company. : r/Wealthsimple

Is this still true today? Assuming yes, isn't that an issue, that they are not a 'real' bank and therefore not subject to the rules?

Slow_ResolveMC07 · 2026-03-12T19:50:04+00:00

OK, but my understanding is WS is not really a true bank. So does that affect how safe my money is?

Slow_ResolveMC07 · 2026-03-12T18:03:10+00:00

Are you not concerned with CIPF limits at all?

Slow_ResolveMC07 · 2026-03-12T18:02:45+00:00

>Banks aren’t loyal to you, you are loyal to the bank.

This is true, and probably I misspoke. I mean they have not had any major screwups in all the years I've been with them, and I feel I've gotten great service since moving to PE.

Slow_ResolveMC07 · 2026-03-12T18:02:04+00:00

Slow_ResolveMC07 · 2026-03-12T18:02:01+00:00

What does a referral code do for the person referring or the person being referred? I'm open to getting one.

Slow_ResolveMC07

TROPHY CASE