WellsTrade review

Is Wellstrade a Scam? Is Wellstrade Safe and Legitimate Brokerage Firm?


I'm often being asked the following questions: is Wellstrade a scam? Is it safe to use Wellstrade? Is it SIPC (FDIC equivalent) insured? The short answer - it's a legitimate, safe online broker. The company is owned by Wells Fargo - one of the largest banks in the United States. There are some issues with the company - you can read about it in Wellstrade Review.

WellsTrade® accounts are available through Wells Fargo Advisors, LLC (member SIPC), a non-bank affiliate of Wells Fargo & Company.

Wellstrade is a member of SIPC. SIPC (The Securities Investor Protection Corporation - http://www.sipc.org/) either acts as trustee or works with an independent court-appointed trustee in a missing asset case to recover funds. The statute that created SIPC provides that customers of a failed brokerage firm receive all non-negotiable securities that are already registered in their names or in the process of being registered. SIPC is an important part of the overall system of investor protection in the United States. While a number of federal, self-regulatory and state securities agencies deal with cases of investment fraud, SIPC's focus is both different and narrow: Restoring funds to investors with assets in the hands of bankrupt and otherwise financially troubled brokerage firms.

Read full Wellstrade Review.

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