Comment by onli
With the amount people usually trade $10 is a huge percentage. When you factor that in with the missed compound interest of that money you usually lose tens of thousands of dollars until retirement, likely more.
There is no need for a big bank here, in Europe. If one of those regulated companies goes bankrupt the etf is still yours and transferable to a different institution.
War in Europe is the remaining risk factor, but if that happens it won't matter anyway.
Not sure how it's like over in EU, but in Canada, at this point, I assume all fin tech startups are scam. Neo financial and wealth simple are definitely fucking scam. Major banks may suck but at least you get what you pay for.