Wellstrade Review

Wellstrade Broker Review 2024

WellsTrade Review: It’s hard to believe that Wells Fargo (who owns WellsTrade) has been around since the time of Wyatt Earp. Their platform features over two dozen technical studies, like linear regression and time series forecast. Also, technical indicators include Bollinger Bands and Chaikin’s Volatility. There is plenty to feed the needs of most technical traders and investors. They provide a user-friendly, web-based trading platform. It’s simple to navigate and has great chat support if needed.

You place orders for stocks, ETFs, options, and mutual funds using web pages. Also, the platform allows four stock order types: market, limit, stop, and stop limit. Even though they’ve been around awhile, that doesn’t mean they are old school. When you read this Wells Fargo review, you’ll learn that they have some modern tools for you to use. 

In 2008, Wells Fargo acquired Wachovia and its brokerage system, renaming it “WellsTrade.” After integrating the online brokerage with Wells Fargo banking, the result is a platform with a wide selection of accounts and funds. Significantly, the brokerage offers well over a thousand mutual funds. If you invest primarily in mutual funds, then WellsTrade is hard to beat.

Wellstrade Review Website


Wells Fargo & Co. Express building circa 1860, Stockton, CA. Though the features are basic, the platform offers better-than-average charting for one that is broker-provided. You receive multiple chart types, including candlestick, bar, line, and OHLC (Open-High-Low-Close). It also has several drawing tools, like line, ray, and Fibonacci.

We, of course, are especially fond of technical analysis because they are the only things in our minds that tell us when to buy and sell.

We take a look at the mobile app in this WellsTrade review. The mobile app works on your tablet or smartphone and integrates with the web-based platform. We prefer an app over a browser because it feels much more stable and gives you better feedback overall.

Like most mobile platforms, it offers streamlined capabilities that you expect from mobile apps. The desktop version is going to have more features. Use your mobile device to trade stocks, ETFs, options, and mutual funds.

Additionally, the app provides charts, a watch list, news, alerts, and real-time quotes. Also, the app is available for Apple and Android devices, so you don’t have to buy a new $1,000 phone.

Wells Fargo ($WFC) Stock Rover Research Report 3/24

Account Types

In this WellsTrade review, let’s look at the accounts they provide. WellsTrade offers individual and joint accounts. Also, the brokerage accepts ESAs (Education Savings accounts) and traditional, Roth, SEP, and rollover IRAs. There is no account minimum. However, for margin accounts, the minimum is $2,000.

Fund your account via check deposited in any way: mail, mobile device, or Wells Fargo branch. Or fund your account via wire transfer or an account transfer from Wells Fargo or another investment firm.

You can earn interest on your uninvested cash balances via the Wells Fargo Advisor Cash Sweep Program. Currently, rates range from 0.25% to 0.80%. But we expect those to rise or decline depending on what the Federal Reserve does in the next few years.

Also, the 7-day current yield for mutual funds is 1.65%. IC insurance, even though Wells Fargo accounts are. However, WellsTrade offers accounts through Wells Fargo Clearing Services, LLC, a SIPC member, so you have some protection.

Trading Rooms Stock Signals and Trading Alerts Stock Watch Lists
DESCRIPTION Bullish Bears offer trade rooms in our Discord. Our chat rooms include penny stocks, large caps, options, and futures We offer stock signals and trade alerts through our watch lists and Discord bots using Tradytics Swing trade and day trade watch lists with hand-picked symbols that have the best chance of breakouts. These are stocks to watch

Comparison Tool

Here is a live look inside the platform.

If you want to compare stocks, ETFs, and indices, then you can. WellsTrade provides a pretty comprehensive comparison tool.

Additionally, the platform offers real-time quotes, account management tools, screeners, watch lists, email alerts, and symbol searches. It also includes a calculator that converts shares into dollar amounts—all the tools you need in one place.

There is no need to purchase another tool unless you need something that’s specific. The platform is easy to use and provides the functionality needed to trade. However, if you’re an active trader, you may prefer something more advanced like ThinkorSwim.

The platform doesn’t offer the ability to trade from charts or complex order capabilities, like basket orders. But it’s suitable for casual and position traders who want to keep it simple.

Wells Fargo ($WFC) TipRanks Stock Forecast Report 3/24

WellsTrade Fees and Pricing Review

  1. WellsTrade offers competitive rates plus special reduced rates for Portfolio by Wells Fargo members.
  2. You qualify for Portfolio by Wells Fargo membership if:
  3. Your linked bank deposits are at least $25,000 or
  4. Your bank, brokerage, and credit balances are $50,000 or more
  5. If your account doesn’t meet the requirements, you can become a member for a monthly fee of $30. Therefore, Portfolio by Wells Fargo pays for itself if you make more than ten trades per month
  6. The standard rate for stocks and ETFs is now free at $0 per trade. Check this link for updated information.
  7. The rate for options is $5.95 plus $0.75 per contract
  8. For mutual funds, the rate is $35 for no-load funds but $0 for no-load NTF (No-Transaction Fee) funds
  9. T-bills, notes, and bonds cost $50 per transaction
  10. The rate for penny stocks (priced at less than $1.00 per share) is $34.95 or 3.5% of the principal, whichever is greater

Tiered margin rates range from “Base rate + 3.5% ” to “Base rate – 0.5%,” depending on your debit balance. To view WellsTrade’s margin rates, go here. Also, for more information on WellsTrade fees and commissions, go here.

If you are a banking member and use Wellstrade, there are many reward programs available to you that may interest you.

Final Thoughts: WellsTrade Review

This WellsTrade review is all about finding the pros and cons of the company. Are there unique advantages to this historic company?

With Wells Fargo behind them, it’s unlikely that WellsTrade brokerage will go out of business in your lifetime. With 167 years of history (founded in 1852) at the time of this writing, Wells Fargo probably does not come to mind to those who worry about ‘here today, gone tomorrow.’

We do think the fees are a bit high, but for someone who is a distinguished investor, you’re in good hands and probably not worrying about the fees. For an active trader, you may want to look elsewhere.

Frequently Asked Questions

Investors cannot purchase shares of Wellstrade, but they can purchase shares of their parent company, Wells Fargo (NYSE: WFC).

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