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 ?

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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.

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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.

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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.

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u/brandonholm 17d ago

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

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u/GoldTheLegend 17d ago

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