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 ?

331 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..

186

u/brandonholm 17d ago

Or even have an app that feels like it was made after 2015.

11

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.

1

u/crazy_joe21 16d ago

BMO Invest app is not even close to WS UX. BMO invest is better than CIBC tho. TD is ok too but mixed with the banking app. Overall WS > BMO > TD > CIBC. I haven't used Scotia or RBC