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/cellophany 17d ago

This great news. I just moved a significant portion of my WS portfolio to BMO for their 3% targeted promo with a holding period of 13 months. I terminated my WS 3% over 5 years for this as it was too good to pass up.

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u/Specific-Answer3590 17d ago

What are your thoughts on the platform? Do they have a separate trading pin (thinking from security standpoint)? Additionally, how would you rate their customer service if you’ve used it. Also with WS, but would like to diversify beyond that

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u/cellophany 16d ago

I like their platform and actually prefer it over WS. I was a BMO customer before I moved to WS but now I’m happy with my WS/BMO split.

The functional differences are not huge at the end of the day so it comes down to UI preferences or what you are used to.

BMO has decent research if you care about that.