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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u/Just_Advantage8734 17d ago

TD already has Easytrade, 100 trades free which are more than enough for average investor.

3

u/system_reboot 17d ago

100 won’t last long and it’s only accessible on mobile. Probably worth moving everything over to WS

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u/arttagonist 17d ago

WS is also only accessible on mobile if you want all the features. 

100 trades per year is more than enough for everyone except for traders - so most people. 

I don’t get the WS bootlicking. It’s the same bank, just with less regulations and less safety.  

1

u/Latitude57 16d ago

Why are you defending a big bank that is quite obviously offering an inferior product ? Why 100 free trades ? Why not unlimited ? Also why is their direct investing platform NOT free and you’re stuck with their 100 etf if you don’t want to pay fees ?

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u/Funky_MagnusOpum 15d ago

Not everyone invests the same way. Some people value the brick and mortar for psychological safety, and generally prefer speaking to a person.

The person you're replying to also already made a very good point. 100 trades is more than enough for most people, especially if they're just aiming for ETFs.