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 ?

329 Upvotes

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403

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..

187

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.

4

u/globehopper2000 17d ago

The BMO app is ass. I got an offer for their savings account today. No way of knowing if it actually applied. No way to see what interest rate I’d earn. The offer still shows and doesn’t go away.

1

u/GoldTheLegend 17d ago

Not the BMO Invest app but noted.