Each trade order will be treated as a separate transaction subject to commission. An order that executes over multiple trading days may be subject to additional commission. One commission will be assessed for multiple trades, entered separately, that execute on the same day, on the same side of the market.
Other fees and commissions apply to a WellsTrade account. For complete information on fees and commissions, refer to the WellsTrade Commissions and Fees Schedule. Schedule subject to change at any time. A transaction fee is a trading fee that is charged by the brokerage firm when you buy or sell shares of a fund. A WellsTrade household is comprised solely of WellsTrade accounts with the same ownership or address.
If an IRA Custodial Fee is due, clients will receive a remittance notice with several payment options. If a payment option is not selected, the fee will be automatically deducted from the IRA in September of each year. Please note that if a client elects to turn off paper delivery of these documents, they will receive these documents only via Access Online.
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Some brokerage accounts are not eligible to be linked to a Portfolio by Wells Fargo program, and they will not receive Portfolio by Wells Fargo program benefits. For more information, call Wells Fargo Bank, N. While this is pretty basic, the charting tools offer a bit more for analyzing different stocks.
There are 30 different technical studies available including popular ones like Linear Regression and Time Series Forecast. You can change the style of the chart to bar, dot, filled candles, mountain, candlestick, or OHLC. You can set the timeframe to 10 years or the maximum, which could go back to the s if you have a stock like IBM. The mobile app does allow for trading, which is pretty great if you are a banking customer and want to try your hand at simple investing.
You can stream financial news, monitor your position, and deposit a check into your account if have a bank attached.
Prices and fees
While the information is pretty simple within the app, you can see Morningstar ratings and charts. For equities and ETFs, there is a bid-ask spread option plus bid and ask features. You can also access real-time news articles for stocks, and option chains are available for certain securities. You can also sign up for alerts. Are you a Wells Fargo banking customer already? Then monitoring your accounts through WellsTrade may be a convenient option for you.
The best thing about this platform is that it integrates with all of your Wells Fargo accounts and offers analyst recommendations.
Wells Fargo eliminates commissions from stocks and ETFs on WellsTrade
For long-term investors and retirement portfolios , WellsTrade offers traditional tools and buy-and-sell recommendations that can be accessed on desktop and mobile. If you already have a Wells Fargo account and want to try your hand at investing, you will be happy to know that the traditional products are all available through their desktop and mobile app platforms. For these reasons, WellsTrade is best for casual, passive investors who want to manually enter important trades, possibly for long-term retirement investments.
As for investment advice and recommendations, WellsFargo actually does better in this area and offers more value. If you want a low-cost advisory service, WellsTrade does offer robo-advisors that provide buy-and-sell recommendations within the app. You also have access to human advisors, but these are not directly available via chat. You will need to call or make an appointment at a Wells Fargo location to access these special advisors. WellsTrade makes it easy to add a brokerage account to your existing bank account, but you can also open an account if you are new to Wells Fargo.
Once your account is open, you may not have access to all of the capabilities. Once you have your account setup, you can access all of the research, charting, and mobile app features. WellsTrade is not a discount brokerage due to its fees and account costs. However, it does provide value to those who want portfolio analysis and investment breakdown. You can use charts and tables that break down your investments by asset type as well.
The performance reporting option lets you see your trades over specific time periods. There are also tax accounting reports, which are useful when it comes time to report to the IRS. If you wish to improve your portfolio, you have access to advisors for an additional fee. Some investors may find this more useful to fill in the gaps than simply working with the traditional analysis and reporting platform.
Options are also more expensive with WellsTrade. You will need to navigate the application mostly on your own and figure things out for yourself.
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Unfortunately, you can not automate anything with WellsTrade. For example, the mobile app does not allow you to enter advanced order types, and the quotes are slow to update. For retirement investors, WellsTrade shines in no-transaction-fee mutual funds. There are over 2, NTF mutual funds available through the desktop and mobile app platforms. You can use the mutual fund screening tool to find the best offerings for your portfolio as well.
Get the best rates
You can set up a margin loan with Wells Fargo as long as you are a banking member with decent credit. While Wells Fargo has made some changes to increase security, the bank has had several data breaches over the past five years. Client information has been accidentally leaked and accessed by malicious hackers multiple times. Since WellsTrade overlaps with the bank, there may still be security problems and issues with future breaches based on past experiences. There are several ways to fund your account, but the most convenient is through your bank account, which automatically connects and instantly transfers funds to your brokerage account.
You can also make a deposit at a physical branch, deposit a check, run a wire transfer, or transfer from another investment account at another firm. WellsTrade does not charge any account closure fees. When ready to withdraw, you can send funds instantly to your bank account from your brokerage account.
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This is one area where WellsTrade excels if you want to speak to a human. In addition, there are no chat options. Access to human advisors at physical locations vary depending on where you live. In larger cities, customers report that it is easier to talk to an advisor, but you may have to make an appointment.
See our list of FX broker reviews as well as our detailed guide to options trading platforms. This is a huge savings for anyone who has been trading with Wells Fargo for many years. However, it really just places Wells Trade-in balance with all other virtual brokers. For those who already have an account with Wells Fargo, you will love being able to see all of your accounts in a glance. WellsTrade integrates fully with the bank, so you can see your entire portfolio with retirement planning tools.
This is the main reason why WellsTrade was started to begin with so that casual retirement investors could monitor their passive income. The integration also means quick transfers to liquify funds from your brokerage to the bank account. You do not have to keep an account minimum to trade with WellsTrade. You will need to understand different order types and enter them manually, and the trade quality may not be as fast or high-quality as with other virtual brokers like Interactive Brokers or Fidelity.
If you trade-in options, you probably want to use another brokerage. This makes WellsTrade higher than most in the business. In fact, only Vanguard seems to be higher.