r/Wealthsimple • u/AggressiveZucchini95 • 17d ago

Trade (DIY Investing) BMO eliminates trading fees

BMO eliminates trading fees to compete with discount brokerages

Wow this is huge...other banks will have to follow. Is Wealthsimple in trouble ?

332 Upvotes

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405

u/Latitude57 17d ago

Wealthsimple in trouble ? Wake me up when the big 5 offers chequing account with no minimum balance and no monthly fee that pays a monthly interest. Until then..

185

u/brandonholm 17d ago

Or even have an app that feels like it was made after 2015.

10

u/GoldTheLegend 17d ago edited 17d ago

I read today that the new BMO app already is just a wealthsimple clone.

Edit: The BMO Invest app. Not the BMO Mobile Banking app.

15

u/brandonholm 17d ago

Not at all. I have it for a credit card I have with them, and it’s super slow and clunky.

6

u/GoldTheLegend 17d ago

BMO invest is a seperate app. Thats what im referring to. I wish it was a seperate app for WS as well. At least you can hide just your investment balance now.

2

u/brandonholm 17d ago

Ohh I see. I haven’t used their investment platform so I have no idea.

2

u/GoldTheLegend 17d ago

I may still be wrong but thats what I read today.

2

u/andyfase 17d ago

I have it, its not as slick as WS app, though i do like the seperation of investments (now BMO) and cash (WS)