Canada’s Answer to Robinhood Warns Traders But Won’t Halt Stocks

Wealthsimple Inc., a commission-free Canadian online brokerage with more than 350,000 clients, is warning traders about the risks of investing in certain highly speculative stocks, but isn’t planning to halt trading in those shares.

Wealthsimple, whose motto is “get rich slow,” doesn’t offer riskier investment choices such as options trading or margin accounts, and has sent clients emails reminding them about the dangers of speculation, Chief Executive Officer Mike Katchen said in an interview with BNN Bloomberg Television Friday. It also embedded in-app notifications for users looking at certain stocks.

WATCH: BNN Bloomberg speaks with Mike Katchen, co-founder and chief executive officer of Wealthsimple.

(Source: Bloomberg)

The firm doesn’t plan to restrict trading on ...