Review of WellsTrade
WellsTrade might not be the most well-known brokerage firm, but it does offer some solid investment services in particular areas. Let’s examine whether Wells Fargo’s online discount broker can surpass your current provider.
Investments and Accounts
WellsTrade offers both self-directed and managed account options. For portfolio management, they have a robo program called Intuitive Investor®. This program charges an annual fee of 0.35% and invests in low-cost ETFs with no commission fees. Wells Fargo Bank clients can get a 5 basis points discount. Regardless of the discount, a $5,000 minimum deposit is required. Licensed advisors are available over the phone for inquiries and provide limited guidance.
Alternatively, there’s the traditional option through Wells Fargo Securities. This allows for a personal relationship with an advisor at a Wells Fargo branch. Fees depend on the account’s value and selected assets. You can compare these fees with the most affordable financial advisors near you.
For those confident in managing their investments, WellsTrade also provides self-directed accounts. These include a range of options like IRAs, individual and joint taxable accounts, solo 401(k) plans, and Coverdell education accounts.
Self-directed traders have access to a moderate range of tradable assets:
- Fixed-income securities
- Stocks
- Options
- ETFs
- Closed-end funds
- Mutual funds
Self-directed accounts do not have ongoing fees or minimum requirements, unlike managed accounts.
Cash Management Features
Although WellsTrade is owned by Wells Fargo, it doesn’t offer impressive banking tools—or any at all. The brokerage doesn’t provide a debit card or checkbook, meaning ATM fee reimbursements aren’t available.
However, you can link a Wells Fargo checking or savings account to a WellsTrade account, allowing access with a single login. There are also some banking tools available without a bank account, such as a free monthly FICO score and Zelle transfers.
Website Trading
The WellsTrade website offers basic trading tools, and during our review, we found it to be user-friendly due to its simplicity.
To get started, you can use the search bar in the top-right corner. It provides a drop-down menu for entered ticker symbols, showing features like a small chart, option chains, alerts, detailed info, and a trade button.
The broker’s order ticket includes 4 trade types:
- Market
- Limit
- Stop
- Stop limit
There’s also an "all or none" option and two time-in-force selections: GTC (Good ‘Til Canceled) and day. Options and mutual funds have separate order tickets with relevant fields that you can access through the tabs at the top of the stock trading ticket.
The charts on WellsTrade cannot be expanded to fill a full screen, which is a notable drawback. However, there are seven chart styles, including dot and candlestick, along with several drawing tools and a few technical studies. You can view price data for up to 30 years for securities with long histories.
Option chains on WellsTrade display puts and calls only, without spreads. Greek values and special derivative tools are missing, though volume and open interest are shown.
Mobile App
The WellsTrade mobile app offers the same trade types and duration options as the website. It also includes alerts and watchlists, but charting features are limited, lacking drawing tools and technical indicators.
On a positive note, the WellsTrade app allows options and mutual fund trading, which isn’t always offered by all brokers. Additionally, the app provides some banking services, like check deposit.
Other Software
WellsTrade does not offer a desktop application to enhance trading. There is also no browser-based platform. These limitations are compounded by the lack of advanced platforms for clients.
Customer Support
WellsTrade’s software platforms lack a chat widget, either for automated or human support. The website has a self-help section with some useful resources, like a tax center and a password change tool.
For live help, WellsTrade provides phone support Monday through Friday, from 8 am to midnight EST. Unfortunately, there is no weekend support, and physical branch locations are not available (although some Wells Fargo branches may offer services to investment advisory clients).
Pricing Schedule
As with most competitors, WellsTrade offers $0 stock and ETF trades when placed online or via the broker’s automated phone system. Using a live broker to place a trade costs $25.
Trades of mutual funds are the same price online or over the phone with an agent, without the $25 surcharge. Funds with transaction fees cost $35 on each side (buy and sell).
Even though WellsTrade has eliminated commissions for stock and ETF trades, it still charges a $0.65 per-contract fee for options trades.
If you use a live agent to place a derivative trade, there is a $25 charge. Exercises and assignments can only be done over the phone with a broker, and they come with the additional fee.
Margin Borrowing
Most WellsTrade accounts qualify for margin borrowing. The brokerage uses a tiered system for margin rates, which range from 12.5% (for balances below $25,000) to 5% (for balances exceeding $10 million).
Households with sufficient assets can get discounts on margin rates. A household is defined as accounts with the same address or ownership. A household with at least $250,000 in assets gets a 50 basis points discount, and larger balances can get up to a 2.5% discount.
Research and Education
WellsTrade offers screeners for most of its investment vehicles, including stocks, bonds, mutual funds, and ETFs. However, there are no screeners for closed-end funds or options.
To access these screeners, go to the Research tab, where you can find other educational materials.
WellsTrade’s equity screener has basic and advanced modes. The advanced mode offers more search criteria, but there are still some missing search variables even in the higher-level mode.
The mutual fund screener is more comprehensive, with many criteria, such as fund family, standard deviation, and turnover ratio.
Under the Research tab, you'll also find Commentary & Strategy articles, offering insights on recent market trends and specific investments.
WellsTrade also provides news articles from GlobeNewswire, AP, and PR Newswire. Market news includes data on stock indexes, futures, forex, and interest rates, though not all of these products can be traded through WellsTrade.
Stock profiles come with trade recommendations, PDF reports from Morningstar and Wells Fargo Securities, and a Consensus Rating.
Miscellaneous Services
DRIP Availability: WellsTrade clients can enroll stocks and ETFs for automatic dividend reinvestment. However, this process must be done by phone, as there’s no online enrollment option.
Initial Public Offerings: IPOs aren’t available at WellsTrade. We suggest Webull.
Fractional Shares: WellsTrade only offers whole-share trading for stocks and ETFs.
Recurring Mutual Fund Purchases: Like DRIP, this service can only be accessed via phone enrollment.
Extended Hours Trading: WellsTrade offers after-hours trading from 4:01 pm to 6:30 pm EST, but there’s no pre-market session. This service is available only on mobile.
Individual Retirement Accounts: WellsTrade offers SEP, SIMPLE, Roth, and traditional IRAs. However, there’s a $49.95 fee for closing these accounts.
Recommendations
Retirement Savers and Long-Term Investors: WellsTrade has IRAs, solo 401(k) accounts, and profit-sharing plans. Its robo and traditional management options are suitable for retirement planning.
New Investors: Beginners may appreciate WellsTrade’s robo service, especially with free phone consultations with licensed advisors. However, self-directed trading may be difficult for beginners due to its lack of educational resources, unlike Charles Schwab.
Small Accounts: The $5,000 minimum deposit for Intuitive Investor is steep. We recommend Robinhood for those with smaller accounts.
Mutual Funds: WellsTrade is great for mutual funds, with over 8,000 funds available, and a
large portion of them have no fees. However, Firstrade offers more free-to-trade mutual funds.
ETF and Stock Trading: Without a desktop or browser platform, WellsTrade is lacking. In
comparison, Charles Schwab offers both desktop and browser platforms.
WellsTrade Review Verdict
In conclusion, WellsTrade may not outperform your current broker in most areas. While it excels in mutual funds and portfolio management, it needs improvement in customer service, software, cash management, and margin rates.
WellsTrade IRA Fees
| Fee |
Amount |
| WellsTrade IRA setup fee |
$0 |
| WellsTrade annual IRA fee |
$30. Coverdell Education Savings Account annual fee: $20. Command Asset Program/Command Asset Program for IRAs: $125 |
| WellsTrade IRA termination fee |
$49.95 |
| WellsTrade account inactivity fee |
$0 |
| WellsTrade outbound full account transfer (ACAT) fee |
$49.95 |
Updated on 2/26/2026.
Chad Morris is a financial writer with more than 20 years experience
as both an English teacher and an avid trader. When he isn’t writing
expert content for Brokerage-Review.com, Chad can usually be found
managing his portfolio or building a new home computer.
|