Welltrade

Wellstrade clients can place market, limit, or stop-limit orders online. There are no conditional orders available.

Actual forex bonuses

Market-on-open and market-on-close orders can be placed with a live broker only. In addition, every broker we surveyed was required to fill out a 320-point survey about all aspects of their platform that we used in our testing. Many of the online brokers we evaluated provided us with in-person demonstrations of their platforms at our offices.

Wellstrade review

Best for investors who use wells fargo for banking, loans, and wealth management

We publish unbiased product reviews; our opinions are our own and are not influenced by payment we receive from our advertising partners. Learn more about how we review products and read our advertiser disclosure for how we make money.

Account minimum: $30

Fees: $0 for stocks and etfs (excluding penny stocks)

Best for: wells fargo bank customers

Wells fargo’s brokerage, wellstrade, is intended to serve wells fargo bank customers who want the convenience of managing their investments at the same institution where they have checking accounts and mortgages. Wellstrade was late to the zero commission pricing movement but finally joined the pack in december 2019, dropping commissions for listed stocks and etfs to $0.

Investors who prioritize analyst research and sell-side recommendations may also find what they are looking for at wellstrade. However, in both cases, very active investors looking for low costs and high-quality tools will be disappointed.

Key takeaways

Best for existing wells fargo bank customers.

Zero-commission trades for listed stocks and etfs. Penny stocks incur a commission.

Access to wells fargo research.

All wells fargo accounts are linked on the website and app.

Who this broker is for

Wellstrade is designed for infrequent, buy-and-hold investors who are not particularly interested in asset classes besides equities. Wellstrade clients can trade stocks, etfs, mutual funds, fixed income, and single-leg options. It’s a fit for you if you’re a U.S. Resident with other financial relationships with parent bank wells fargo. One advantage to having an investing account if you’re already doing business with wells fargo is that moving money from one account to another is extremely simple.

No commissions for stock and ETF trades

Easy-to-use website and mobile app

A single app gives you access to all wells fargo accounts

Limited research offerings outside of proprietary wells fargo analysis

Households with under $250,000 in wellstrade accounts may pay a $30 annual fee

Pros explained

Wellstrade joined the zero-commission movement for U.S.-based online brokers in early 2020 for stocks and etfs only.

Both the website and the mobile apps have simple layouts and appear very similar, so there’s no jarring transition from one to the other.

You can manage all of your wells fargo accounts from a single website or app.

Cons explained

Though the wells fargo proprietary research offerings are worth considering, there is very little else available. Screeners are limited and there is no options analysis at all.

The $30 annual fee applies to households with less than $250,000 in wellstrade accounts. You can bypass the fee by enrolling all accounts in electronic delivery of statements and confirmations, or by linking to the portfolio by wells fargo program.

Streaming real-time quotes are not available. When you first bring up a quote, it is displayed in real-time, but you have to refresh the page to update the quote.

Usability

Getting started with a new account is relatively simple. New customers can quickly sign up for a new account on the wellstrade website or mobile app and most can provide their signatures electronically. You may have to print out some forms and mail them in, which will delay the opening of your account. If you already have a relationship with wells fargo, personal details are automatically filled in on your application. There are a few additional hoops through which to jump to receive options and margin approval. One upside to using a bank-based online broker is the incredible ease of moving cash from one account to another, both on the browser and mobile app.

The web-based platform is easy to navigate but it’s very slow. Most of the account functions, research tools, and order entry can be found under two-level menus. Upon logging in, the first page you see is an overview of all your brokerage accounts with balances and a chart displaying your asset allocation. Customization is limited to setting up account groups and to changing out the data displayed on your portfolio listing.

Order tickets are not ubiquitous; you will have to make a few clicks or taps on the menus to open one. The mobile app is essentially the same experience as the web version, scaled to fit the device.

Trade experience

Investors can enter orders for stocks, single-leg options, etfs, and mutual funds very easily. Wellstrade does not offer conditional order types such as one-triggers-another, but investors can use standard limit, market, and stop orders. The order entry process is simple but manual and could become very repetitive for active investors. Orders can be started from watchlists or screener results. The wellstrade platform is web-based and it takes a while to navigate from one page to the next, which makes the order entry process tedious. One nice touch is that investors can make tax lot choices while entering an order.

Only single-leg option orders can be made online. When opening a long stock position, you’ll have to make a separate transaction to create a covered call or protective put. If you’re a regular spread trader, this is not the broker for you as you will have to call a broker to make those trades as a single order. There is a $25 additional fee to place an order through a live broker.

Mobile trade experience

Placing a trade on a mobile device is very similar to the web order entry experience. To easily close a position and avoid making errors, it’s best (especially on mobile) to start from your positions page and then tap on the trade link.

Range of offerings

Wellstrade provides no access to futures, futures options, crypto, or forex trading. For passive investors, there is a wide selection of no-transaction-fee mutual funds and an acceptable mutual fund screening tool.

2,000 no-transaction-fee)

Bonds (secondary market in corporates, treasuries, munis, and cds)

Single-leg options (limited number of spreads available via live broker)

Robo-advisory, intuitive investor, integrated into website and app

Order types

Wellstrade clients can place market, limit, or stop-limit orders online. There are no conditional orders available. Market-on-open and market-on-close orders can be placed with a live broker only.

Trading technology

Wellstrade does not publish information about how orders are routed. The firm does not characterize its order router as a “smart” router but manages to attain approximately $0.01 per share in price improvement on equity orders. Wellstrade does not accept payment for order flow for marketable equity orders. The firm receives $0.15 per contract in payment for order flow on options orders, which is below the industry average.

Costs

Wellstrade’s commissions are mostly in line with the rest of the industry. There are two notable exceptions: the high fee for trading penny stocks and the base fee for trading options.

Cost to open or close an order of 1 share priced at $1 or greater is $0. Cost to open or close 1000 shares is $0.

Cost to open or close any trade of a stock or ETF priced less than $1 per share is the greater of $34.95 or 3.5% of principal.

Options base commission to open and close is $5.95.

Options per contract fee is $0.75.

Fee for 50 contracts is $43.45.

Covered call trade of 500 shares plus 5 contracts is $9.70 and is two separate transactions.

Options exercise/assignment fee is $25 and must be done via live broker.

Mutual fund fees for those not on no-transaction-fee list is $35.

Margin interest at $10,000 balance is 9%. $100,000 balance is 7.5%. These fees are above the industry average.

Inactivity fee is $30 per year for households with balances below $250,000.

No account closure fee. Termination fee for iras if account holder is younger than 70 ½ is $95.

Account transfer fee is $95.

Wire fees are $30 domestic, $40 international.

Check fees are $0 unless overnight delivery is requested, then fee is $15.

Paper trade confirmations or account statements are $20.

Live broker fee is $25 in addition to online fees.

How this broker makes money from you and for you

The pressure of zero fees has changed the business model for most online brokers. In lieu of commissions, the way brokers make money from you is less obvious—as are some of the subtle ways they make money for you.

Interest on cash balances: wellstrade clients are automatically enrolled in cash sweep programs, but at present, the interest earned is a paltry 0.01%. Clients are encouraged to open a wells fargo bank account and move uninvested cash to an interest-earning account, or manually move cash into a money market fund. Wellstrade makes money from the difference between what you are paid on your idle cash and what they can earn on customer cash balances.

Stock program: wellstrade earns revenue loaning stocks in your account for short sales but does not share that revenue with you.

Payment for order flow: wellstrade accepts payment for order flow (PFOF) on options orders, but not on marketable stock and ETF orders. This is the practice where a broker accepts payment from a market maker for letting that market maker execute the order.

Price improvement: wellstrade did not disclose its price improvement statistics.

Portfolio margining: wellstrade clients cannot apply for portfolio margining, which can lower the amount of margin needed based on the overall risk calculated.

Account amenities

Wellstrade does not offer portfolio margining.

Wellstrade does not have a stock loan program.

To earn interest on cash, clients must manually move money into a bank or money market account, which pays 0.05-0.89% interest.

You can enroll in DRIP (dividend reinvestment) plans.

Research amenities

The landing page for asset screening lets you look for stocks, etfs, mutual funds, and bonds. You can search the mutual fund list for socially-responsible investments, but not stocks or etfs. Wellstrade offers a recommended list for mutual funds that is updated regularly. The bond screener allows you to search through the available inventory for a bond that fits your specific needs, but trades must be made with a live broker.

The screening tools at wellstrade are fairly standard, albeit basic, compared to others in the industry. Though limited in functionality, it is convenient to be able to create a trade ticket from the search results list. When you find a stock or ETF you want to learn more about, the detailed information is presented as an overlay to the page you’re viewing, so when you close the overlay you’re back where you started. Options chains are shown on a detail page, but there is no options screener.

Market news is provided by reuters, and most of the research in the wellstrade platform is created by internal wells fargo analysts. We found the research reports, market commentary, and investment recommendations to be above average compared to the industry. Investors focused on long-term holdings will likely appreciate access to much of the sell-side research provided by wellstrade. You can follow a specific wells fargo analyst if you find one that fits your investing profile.

Portfolio analysis

The wellstrade portfolio analysis tools are surprisingly robust. Investors can see charts, wheels, and tables that break down the holdings in their portfolio by asset class. Performance reports are easy to access and very detailed and can be customized to show a particular period. The account landing page upon login presents a view of the entire household, which can be customized as desired. The portfolio listing can be customized as well, and you can define up to five different views. Additional detail is provided as you drill down, and can go to the individual transaction level.

The asset allocation wheel lets you compare your portfolio to a variety of asset allocation models. There’s a to-do list available that tells you what transactions you’d have to make to match your desired allocation model.

There are some portfolio analysis tools missing, though. You cannot consolidate accounts from other financial providers to give you a more complete picture of your household's assets. Wellstrade customers cannot estimate the tax impact of a proposed trade, and there are no tax reporting tools. The platform also lacks a trading journal.

Education

The education tools are light to nonexistent, outside of FAQ pages and other brief snippets.There are no videos at all, and the articles are short and lacking detail. New investors who struggle with basic investing concepts won’t find much help. There’s little help for navigating the wellstrade platform and tools. For example, investors with limited experience screening for stocks are unlikely to be able to navigate the screening tools on their own.

There are life planning tools on the wells fargo advisors site that cover topics such as marriage, job changes, and divorce. The retirement center includes tips for planning for retirement as well as living in retirement. There is some accompanying educational content included with the retirement planning tool, but it lacked any real depth. The focus of wellstrade seems to be mostly on clients who rely on an advisor to help them with their questions.

Customer service

Phone line available 24/7.

No online chat capabilities.

Live brokers are available during market hours.

Clients are strongly encouraged to work with a financial advisor.

Wells fargo accepts only U.S. Residents and citizens as clients.

Security

2-step verification at sign-on lets you activate an additional layer of security when you access your accounts online by entering a unique advanced access verification code sent to your mobile device or phone, or from an RSA securid device.

Biometric entry enabled for mobile apps.

Excess SIPC insurance carried by london underwriters up to a firm aggregate limit of $1 billion (including up to $1.9 million for cash per client).

Wells fargo / wellstrade has had several well-publicized data breaches over the last few years, though none recently.

Our verdict

Wellstrade is tightly integrated with wells fargo banking and wealth-management services, and if that’s of value to you, you might consider opening an account here. Otherwise, the broker’s limited tools and lack of education are unlikely to be attractive to many investors. Wells fargo’s persistent security problems, which have appeared to be under control during the last year or so, may affect wellstrade customers in the future.

Wellstrade may have some value to offer if you’re a fan of wells fargo’s analysis and research. The firm’s internal analysts provide buy-and-sell recommendations and detailed analysis that can be accessed on the wellstrade platform, which is not the norm in the self-directed trading space. For the right investor, better-than-average research, good telephone support, and integration with your wells fargo bank account may be worth the disadvantages.

Methodology

Investopedia is dedicated to providing investors with unbiased, comprehensive reviews and ratings of online brokers. Our reviews are the result of six months of evaluating all aspects of an online broker’s platform, including the user experience, the quality of trade executions, the products available on their platforms, costs and fees, security, the mobile experience and customer service. We established a rating scale based on our criteria, collecting over 3,000 data points that we weighed into our star scoring system.

In addition, every broker we surveyed was required to fill out a 320-point survey about all aspects of their platform that we used in our testing. Many of the online brokers we evaluated provided us with in-person demonstrations of their platforms at our offices.

Our team of industry experts, led by theresa W. Carey, conducted our reviews and developed this best-in-industry methodology for ranking online investing platforms for users at all levels. Click here to read our full methodology.

Wellstrade ® online and mobile brokerage

Take control of your investing

Pay $0 for online stock and ETF trades

One place to manage your accounts

With a single sign-on for your wells fargo advisors wellstrade brokerage accounts and your wells fargo bank accounts, everything is connected. Move money easily between accounts with our brokerage cash services, included with your account.

A wide range of investing types

Trade stocks, etfs, options, no-load mutual funds, money markets, and more.

Simple, transparent pricing

$0 minimum to open account

$0 per online stock and ETF trade

Robust tools and research

Take advantage of our screeners and online tools, real-time quotes, and exclusive wells fargo insights and third-party research.

24/7 help when you need it most

Our knowledgeable team is here to help if you have questions.

Take control of your investing decisions

Use our standard account for general investing. Plan for retirement with traditional, roth, and SEP iras. Save for college with an education savings account, and more.

Invest online, from anywhere, at your convenience, using a computer, tablet, or smartphone.

Pricing and fees

Pricing

Stock and ETF trades (excluding penny stocks) made online and through our automated phone system are $0

No-load, no transaction fee mutual funds: $0

No-load, transaction fee mutual funds: $35

A $30 household annual fee applies. You can avoid this fee with one of the following as of june 30 each year for all accounts in your wellstrade household:

Enrollment in only electronic delivery for statements, trade confirmations, other documents, and shareholder communications (excluding tax documents/1099s)

Linkage to the portfolio by wells fargo program

$250,000 or more in household balances

SEP IRA accounts-only households

Wells fargo private bank accounts

Fee will be charged in september of each year.

Please see the wellstrade commissions and fees for complete information.

Tools and research

Tools

Use our screeners to narrow your search for stocks, mutual funds, etfs, and bonds.

Try the wells fargo advisors mutual fund screener to research thousands of mutual funds across different asset classes, morningstar categories, sectors, and risk tolerance levels. Filter and select the ones that suit your investment needs, or start with our expert’s mutual fund screened list.

Compare your portfolio against 9 asset allocation models with our asset allocation tool.

Get real-time time quotes, charting and more.

Research

Get market insight and commentary, investment ideas, economic outlooks, and industry and sector news.

Access a large collection of research including wells fargo investment institute proprietary content and third-party sources like morningstar.

Use performance ratings and watchlists to help you with searches.

Brokerage account features

With a single sign-on, you’ll have convenient access to your wells fargo advisors investment and wells fargo banking accounts on your PC, laptop, tablet, and smartphone .

Place trades online for stocks, no-load mutual funds, exchange-traded funds, options, and money market mutual funds online.

Place trades by phone with a fixed income specialist for bonds, treasuries, and brokerage cds.

Brokerage cash services comes standard with wellstrade, enabling easy account transfers, mobile check deposit with a smartphone , and transfers to another person with zelle ® . You can also visit a wells fargo branch teller to make deposits, which are processed through an associated limited-purpose wells fargo bank account in your name.

Earn interest on your uninvested cash with the wells fargo advisor cash sweep program.

Use a margin loan to borrow against securities you hold in your account, for personal or business needs, or to finance investment opportunities

Want a closer look? Get an overview of wellstrade capabilities.

Form CRS: relationship summary

FINRA’s brokercheck: get information about wells fargo advisors and its financial professionals.

Still have questions?

Quick help

Call us

To open a wellstrade account or ask questions, call 1-877-573-7997

For existing brokerage accounts, call 1-800-TRADERS ( 1-800-872-3377 )

$0 per trade is applicable to commissions for online and automated telephone trading of stocks (excluding penny stocks) and exchange-traded funds (etfs). For stock and ETF trades placed with an agent over the telephone, a $25 agent-assisted trading fee is charged. 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 account commissions and fees schedule. Schedule subject to change at any time.

Wellstrade offers the following account types: standard brokerage, traditional/roth/SEP/inherited iras, education savings accounts, custodial accounts, trust accounts, business accounts, and qualified retirement plans. Some of these must be opened over the phone at 1-877-573-7997 .

Availability may be affected by your mobile carrier's coverage area. Your mobile carrier's message and data rates may apply.

$30 per wellstrade household. A wellstrade household is comprised solely of wellstrade accounts with the same ownership or address. Households comprised solely of one or more wellstrade IRA accounts are subject to a $30 IRA custodial fee in lieu of the $30 household annual fee. If a household annual fee is due, the highest-value account in the client’s household that is eligible to be charged a fee will be debited in september of each year. IRA accounts will be charged only if there are no eligible non-IRA accounts in the household. 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.

All accounts must be enrolled in electronic delivery to receive the following documents online only, including statements, trade confirmations, other documents, and shareholder communications, excluding tax documents/1099s. Please note that if a client elects to turn off paper delivery of these documents, they will receive these documents only via access online.

Refer to the wells fargo bank consumer account fee and information schedule for further information about the portfolio by wells fargo program and applicable bank fees 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. The wells fargo bank portfolio by wells fargo program has a $30 monthly service fee, which can be avoided when you have one of the following portfolio by wells fargo statement-ending qualifying balances:

$25,000 or more in qualifying linked bank deposits (checking, savings, time accounts (cds), and FDIC-insured retirement accounts), or

$50,000 or more in qualifying linked bank, brokerage (available through our brokerage affiliate wells fargo advisors ® ), and credit balances (including 10% of mortgage balances).For more information, call wells fargo bank, N.A. At 1-866-245-3452 . Deposit products offered by wells fargo bank, N.A. Member FDIC.

Your total household value includes all assets listed in your wellstrade account statements, except for those shown under the “other assets/liabilities” section. The grouping of accounts into a household is based on account eligibility and family relationships such as children, parents, domestic partners, and others. Certain accounts cannot be included in a household. Please call us at 1-800-TRADERS for more information and to determine whether all eligible accounts have been included in your household. It is your responsibility to ensure that all eligible accounts are included in your household.

Mobile deposit is only available through the wells fargo mobile ® app. Deposit limits and other restrictions apply. Some accounts are not eligible for mobile deposit. Availability may be affected by your mobile carrier's coverage area. Your mobile carrier's message and data rates may apply. See wells fargo’s online access agreement for other terms, conditions, and limitations.

Enrollment with zelle through wells fargo online ® or wells fargo business online ® is required. Terms and conditions apply. Transactions typically occur in minutes when the recipient’s email address or U.S. Mobile number is already enrolled with zelle. Available to almost anyone with a U.S.-based bank account. For your protection, zelle should only be used for sending money to friends, family, or others you trust. The request feature within zelle is only available through wells fargo using a smartphone, and may not be available for use with all small business accounts at this time. In order to send payment requests to a U.S. Mobile number, the mobile number must already be enrolled with zelle. Neither wells fargo nor zelle offers a protection program for authorized payments made with zelle. To send money to or receive money from an eligible small business, a consumer must be enrolled with zelle through their financial institution. Small businesses are not able to enroll in the zelle app, and cannot receive payments from consumers enrolled in the zelle app. For more information, view the zelle transfer service addendum to the wells fargo online access agreement. Your mobile carrier’s message and data rates may apply.

Margin borrowing may not be suitable for all investors. When you use margin, you are subject to a high degree of risk. Learn more by reading our margin risk disclosure statement.

Options involve risks and are not suitable for all investors. When you apply for a wells fargo advisors options account, you will receive a copy of the characteristics and risks of standardized options. You should review this document carefully, and can obtain additional copies by contacting 1-800-872-3377 , or the options clearing corporation, 125 S. Franklin street, suite 1200, chicago, illinois 60606

Market conditions can magnify any potential for loss. The value of the securities you hold in your account, which will fluctuate, must be maintained above a minimum value in order for the loan to remain in good standing. If it is not, you will be required to deposit additional securities and/or cash in the account or securities in the account may be sold.

Please carefully review the margin agreement, which explains the terms and conditions of the margin account, including how the interest on the loan is calculated.

Investment products and services are offered through wells fargo advisors . Wells fargo advisors is a trade name used by wells fargo clearing services , LLC (WFCS) and wells fargo advisors financial network , LLC, members SIPC, separate registered broker-dealers and non-bank affiliates of wells fargo & company .

Wellstrade ® and intuitive investor ® accounts are offered through WFCS.

Retirement professionals are registered representatives of and offer brokerage products through wells fargo clearing services, LLC (WFCS). Wells fargo advisors is a trade name used by WFCS and wells fargo advisors financial network, LLC, members SIPC, separate registered broker-dealers and non-bank affiliates of wells fargo & company. Discussions with retirement professionals may lead to a referral to affiliates including wells fargo bank, N.A. WFCS and its associates may receive a financial or other benefit for this referral.

Wells fargo bank, N.A. Is a banking affiliate of wells fargo & company.

Access to the service may be limited, delayed or unavailable during periods of peak demand, market volatility, system upgrades or maintenance, or electronic, communication or system problems, or for other reasons. During times of high volume of trading at the market opening, or intra-day, clients may experience delays in system access, or execution at prices significantly away from the market price quoted or displayed at the time the order was entered.

Information published by wells fargo bank, N.A., wells fargo advisors, or one of its affiliates as part of this website is published in the united states and is intended only for persons in the united states. Wells fargo advisors does not provide tax advice. Please see your tax advisor to determine how this information may apply to your own situation. Wells fargo advisors equity order routing information.

Zelle and the zelle related marks are wholly owned by early warning services, LLC and are used herein under license.

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Wellstrade® review 2021

James royal is a reporter covering investing and wealth management. Before joining bankrate, he worked as a writer for nerdwallet and a stock analyst for the motley fool. He holds a doctorate in literature from the university of florida.

About our review process

Bankrate reviews brokers and robo-advisers based on how well they’re able to help consumers achieve their financial goals. Here's how bankrate makes money.

Best for

Wells fargo customers

Buy-and-hold investing

Low commissions on stocks and etfs

Wellstrade is one of the handful of brokers that is attached to a parent bank — in this case one of the world’s largest banks, wells fargo. You’ll feel that influence in numerous ways, but overall it seems like the brokerage is a somewhat-overlooked part of the larger bank’s product portfolio. For example, active traders needing a robust trading platform or a more dynamic brokerage will do well to look elsewhere, despite wellstrade’s $0 commissions on stocks and etfs. Yet it will work fine for many clients, especially less demanding investors, those focused on long-term buy-and-hold investing and those wells fargo customers looking to expand their relationship.

Wellstrade at a glance

Star rating

Affordability: 3 of 5

Usability: 3.5 of 5

Tools & research: 3 of 5

Mobile: 3 of 5

Scalability: 3 of 5

Top feature you'll love

Integration with wells fargo

One of the biggest reasons to select wellstrade is its integration with wells fargo's banking operations, so you’ll be able to see your whole financial life at one company. There’s a real benefit to this kind of consolidation, and companies such as wells do a good job offering small perks that encourage this kind of consolidation.

Another advantage of aggregating your accounts is quick money delivery from a bank account to a brokerage account, or vice versa. That works substantially faster than a typical transfer from a bank to a separate broker, and you’ll have ready access to your cash for trading. On top of that, it’s just easier to have multiple accounts with one financial institution.

Pros: where wellstrade stands out

Low commissions

Like most of the industry, wellstrade has moved to $0 commissions for stock and exchange-traded fund (ETF) trades. That’s a substantial savings over the broker's former commission of $5.95 per trade and even the former discounted commission of $2.95 for customers who linked their wells fargo bank accounts. But now that discount only brings wells in line with virtually every other online broker, so it’s not a differentiator as it would have been before.

Clients should note that wellstrade's lower commissions are only available for stock and ETF trades, and do not apply to options trades (more below).

Account minimum

Wellstrade requires no account minimum, a very investor-friendly move from a brokerage that doesn’t always have the most investor-friendly policies (more below). But no account minimum is the standard for the industry now. So while it’s nice to have, it doesn’t do much to differentiate the broker from its rivals.

No-transaction-fee mutual funds

Wellstrade offers a solid selection of mutual funds without a transaction fee — at about 2,100 in total. That gives you plenty of choice when you’re searching for the fund you need.

However, many funds from top companies such as vanguard are not offered without a sales commission ($35). But you will find a large selection of no-transaction-fee funds from brokerage rival fidelity investments, though not its ZERO funds, which don’t charge a management fee.

The fund screener looks and feels pretty basic, with some key search criteria (fund family, morningstar rating, expenses and asset class, among others) but it works well enough.

Cons: where wellstrade could improve

Other trading commissions

While wellstrade has dropped its commissions for stock and ETF trades, its prices for other types of trades have remained the same. For example, its commission on options trades remains stuck at a $5.95 base commission plus $0.75 per contract. And not only is the base commission higher than those of online rivals, so is the per-contract fee, by $0.10 to $0.25 over typical pricing. Now wellstrade sits at the high end of the industry, lower than only vanguard among major brokers, depending on exactly how you measure it.

And those looking to trade penny stocks priced less than $1 will face a stiff fee of the greater of $34.95 or 3.5 percent of their principal for each trade. So wellstrade is not the place to trade these stocks.

If you’re looking at mutual funds, you’ll have to pony up $35 per trade. With a narrower selection of fee-free funds and higher commissions, wells trade won’t be the cheapest place to invest in mutual funds.

Account fees

When it comes to account fees, wellstrade is not especially investor-friendly. The broker charges a $30 annual fee for all accounts, though customers have a few ways to dodge it. Two of the easiest methods being to sign up for electronic delivery of documents or linking your account to portfolio by wells fargo.

Wellstrade also charges a pricey $95 fee for terminating an IRA, meaning the complete distribution of the account, though it waives the fee for clients over age 70 ½ or accounts that are closed due to death or disability. An outgoing account transfer will cost a higher-than-typical $95.

Overall experience

The overall experience at wellstrade just doesn’t feel like that of other brokerages, meaning the design is stripped-down and more basic. It has no trading platform for advanced traders, for example, and the trade interface is simple, albeit effective. So to be fair, though it lacks the razzle-dazzle of rivals, wellstrade will get what you need done, especially if you’re a new investor or are buying infrequently.

Those who need more from a broker won’t find wellstrade offering the same kind of perks – detailed third-party research and advanced stock screeners – offered by other brokers such as fidelity or E-trade at a $0 commission. However, you will get the broker’s own in-house research reports and market commentary.

And other things just feel clunky. When you click the “contact us” menu, you’re presented with no fewer than 10 phone numbers to call depending on what seems like arbitrary or unclear account distinctions. While some customer support options run 24 hours a day, others run 8:00 a.M. To 12:00 p.M. Or 8:30 a.M. To 9:00 p.M. So it can be a bit of a maze.

Bottom line

Wellstrade will likely be a much better fit for those who want to keep their accounts all together at wells fargo or buy-and-hold investors who aren’t too demanding on their brokerage.

The low commissions for stocks and etfs will suit long-term investors fine, but options commissions are too high for anyone who trades them regularly.

The broker’s integration with its parent bank will be an added plus, making it an especially attractive perk for current bank customers.

The broker’s account fees and maze-like structure for finding information and assistance may dissuade investors who are on the fence.

Investors looking to consolidate their financial accounts with a bank should also have a look at merrill edge, whose parent is bank of america. Those looking for a high-quality trading platform should check out E-trade and interactive brokers. Meanwhile, fidelity investments makes a good place to turn for its banking and brokerage operations while avoiding fees.

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Weltrade.Com review

Weltrade is an online forex broker. Wel trade offers the metatrader 4, metatrader 5, and MT mobile currency trading top platforms. Weltrade.Com over 35 forex currency pairs, commodities, gold, silver, oil, bitcoin and other cryptocurrencies for your personal investment and trading options.

Broker details

established:	2006
address:	suite 305, griffith corporate centre, PO BOX 1510, beachmont, kingstown, saint vincent and grenadines
contact:	info@weltrade.Com, +44-20-34116458
regional offices:
regulators:
prohibited countries:

deposit methods:

VISA, mastercard, bitcoin, ether/ethereum, fasapay, litecoin, local bank transfers, neteller, other crypto currencies, perfectmoney, qiwi, skrill, walletone, webmoney

withdrawal methods:

VISA, mastercard, bitcoin, ether/ethereum, fasapay, litecoin, local bank transfers, neteller, other crypto currencies, perfectmoney, qiwi, skrill, walletone, webmoney

Live discussion

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Traders reviews

Length of use: over 1 year

The one star is a negative one - 1

Terrible they say they have lowered there spread.
What they don't tell you is 30-60 mins before session closes they will increase over 5x more than their average (which is already bad btw)
you might think i'm just crying because i lost money. That's not the case

I will give you example :
GBPUSD average spread through day is about 50
as market approach close time this increased to a massive 250 ??
And i'm not talking just a spike either it was around 200 for about 30-60 mins.

They also like to turn their server of 2 mins before market is supposed to close. So if you are insane and do use this broker just make sure you close trades a good 1-2 hours before 2 market closes

If you ask them they will give you the usual "market conditions caused it" nonsense

Put their tick charts next to any other brokers and see for yourself not going to name other brokers but average spread among 4-5 other brokers was about 40 - 60 at the same time theirs was 250 . Scam scandal rubbish

WELLTRADE SYSTEM LP

Learn more about WELLTRADE SYSTEM LP. Check the company's details for free and view the companies house information, company documents and list of directors.

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Companies near to WELLTRADE SYSTEM LP

FIRST AGROTRADING COMPANY LLP - 41 DUKE STREET, EDINBURGH, EH6 8HH

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Information about the limited partnership WELLTRADE SYSTEM LP has been prepared for information purposes only. It is not intended to be nor does it constitute legal advice. This is public information provided by the official company register.

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Era baru trading forex

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Kumpulkan puzzle untuk memenangkan hadiah uang tunai harian hingga $15 000!

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Anda bisa mendapatkan bonus hingga $1 000 untuk trading setelah setiap deposit.

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Platform multi-aset metatrader 5 yang mendukung metode hedging, yang memungkinkan pembukaan beberapa posisi dari instrumen keuangan yang sama.

Weltrade.Com review

Broker details

established:	2006
address:	suite 305, griffith corporate centre, PO BOX 1510, beachmont, kingstown, saint vincent and grenadines
contact:	info@weltrade.Com, +44-20-34116458
regional offices:
regulators:
prohibited countries:

deposit methods:

VISA, mastercard, bitcoin, ether/ethereum, fasapay, litecoin, local bank transfers, neteller, other crypto currencies, perfectmoney, qiwi, skrill, walletone, webmoney

withdrawal methods:

VISA, mastercard, bitcoin, ether/ethereum, fasapay, litecoin, local bank transfers, neteller, other crypto currencies, perfectmoney, qiwi, skrill, walletone, webmoney

Live discussion

Join live discussion of weltrade.Com on our forum

Video

Let other traders know if this service is worth checking or should be avoided.

Traders reviews

Length of use: over 1 year

The one star is a negative one - 1

They also like to turn their server of 2 mins before market is supposed to close. So if you are insane and do use this broker just make sure you close trades a good 1-2 hours before 2 market closes

If you ask them they will give you the usual "market conditions caused it" nonsense

Choose the wellstrade ® account that works best for you

A wellstrade account offered by wells fargo advisors opened online comes with brokerage cash services, which give you convenient money-movement options such as online money transfers between your wells fargo accounts and mobile check deposits using your smartphone . You can also visit the tellers at wells fargo branches and make deposits, which are processed through an associated limited-purpose wells fargo bank account in your name.

Standard account

Trade stocks, bonds, no-load mutual funds, etfs and more

Monitor your investments with robust tools and resources

Traditional IRA

Contributions may be tax deductible

Potential earnings grow tax-deferred

Roth IRA

Tax-free withdrawals in retirement (certain conditions apply)

Access to your contributions anytime: penalty and tax-free

For complete information on fees and commissions, refer to the wellstrade account commissions and fee schedule. The schedule is subject to change at any time.

Wellstrade ® brokerage accounts are offered through WFCS.

Wells fargo and company and its affiliates do not provide tax or legal advice. Please consult your tax and legal advisors to determine how this information may apply to your own situation. Whether any planned tax result is realized by you depends on the specific facts of your own situation at the time your taxes are prepared.

So, let's see, what we have: wellstrade is light on tools and heavy on costs. Investors looking for wealth management from wells fargo may not mind some of wellstrade’s shortcomings. At welltrade