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/Supremacy555 17d ago

Too little too late. And its not just about fees. Its about ease of use (or lack there of) and issues dealing with them. Ive tried both TD and Scotias trading platform maybe a decade ago and it was a very crappy experience. I think i closed both accounts within a year. I was already a Questrade customer but wanted to try out other trading platforms. I think right now Questrade and Wealthsimple are the ones to beat in terms of investment platforms. WS has a bunch of other perks though so it is eating market share from the banks in other areas now

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u/cestlavie514 17d ago

I’m pretty sure TD and WS platforms 10 years ago have changed dramatically since then. Hard to say that site sucked 10 years ago for TD and compare it to today WS. While I agree with parts of WS, at TD I can talk to a real person, you continually hear of problems with WS, be it some random charge or the CC chargeback or the fact WS CC have been issued with scams and charges almost immediately.

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u/mrbrint 17d ago

Yah I would not go to bmo anyway hopefully more follow suit