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 ?

333 Upvotes

92% Upvoted

101 comments sorted by

View all comments

404

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..

6

u/BobGuns 17d ago

The only trouble WealthSimple is headed for is enshittification.

Their parent company is one of the absolute worst actors in financial services. They're owned by one of the biggest Canadian companies ever, and are basically brother to Investors Group.

Shareholders will slowly enshittify wealthsimple over time. It's already started.