TD Ameritrade 300
Wellstrade rating

Wellstrade Fees and Commissions Schedule, Brokerage Account Cost. Wells Fargo Advisors Fees.


2018 Wells Fargo brokerage fees schedule, commissions, broker stock trading cost, charges, online investing account pricing, and hidden fees.



Wells Fargo Advisors Commissions and Fees


Read full Wells Fargo Advisors Review article.



Wells Fargo Brokerage Commissions


InvestmentsCommissions
Stocks and ETFs $5.95
Stocks and ETFs (broker assisted) $30.95
Options $5.95 + $0.75 per contract
Mutual funds $35
Auction of Treasury Bills, Notes and Bonds $50 per transaction

Investments stocks, options, mutual funds, bonds, ETFs
Wellstrade minimum deposit to open account $0



Wells Fargo Brokerage Margin Rates


Debit Balance Margin Interest Rates
under $24,999.99 11.00%
$25,000 - $49,999.99 10.50%
$50,000 – $99,999.99 10.00%
$100,000 - $249,999.99 9.50%
$250,000 - $499,999.99 9.00%
$500,000 - $999,999.99 8.50%
$1,000,000 - $4,999,999.99 8.00%
$5,000,000 - $9,999,999.99 7.50%
above $10,000,000 7.00%



WellsTrade Fees and Commission Schedule


WellsTrade's standard commission for stock and ETF trades is $5.95. Customers who have a premier relationship package (Portfolio by Wells Fargo) with Wells Fargo Bank pay only $3. But there is a $30 monthly fee for this package. It can be avoided by having at least $25,000 in a Wells Fargo deposit account, or combined balances of $50,000 or more across Wells Fargo and WellsTrade accounts. All customers pay $5.95 plus $0.75 per contract for option trades.

There is no minimum deposit requirement to open an account at WellsTrade, nor are there any inactivity or low- balance fees. There is an Household Annual Fee of $30. However, this can be waived by maintaining an account balance of $250,000 or opening the relationship package mentioned above or by signing for electronic delivery for all documents.



Wellstrade/Wells Fargo Brokerage Fees


Fee
Amount
Trading Fees

U. S. Treasury Auctions
$50
Foreign Financial Transactions Fee
Variable
No Load Mutual Fund Transaction Fee
$35 online, $60 for agent-assisted


IRA Fees

IRA Termination Fee

$95
Penny Stock Fees

Penny Stock Commission

Greater of $34.95 or 3.5% of principal
Minimum Balance Fee

Household Annual Fee
OR
IRA Custodial Fee
(for IRA only households)

$30 per household

You can avoid this fee with one of the following as of June 30 each year for all accounts in your WellsTrade household:
  • Enrollment in only electronic delivery for all documents (excluding tax documents/Form 1099)
  • Linkage to Portfolio by Wells Fargo program
  • $250,000 or more in household balances
  • SEP IRA only households
  • Wells Fargo Private Bank accounts
Fee will be charged in September of each year.
Portfolio Package Fee

Portfolio Package Fee

$30 monthly, waived for one of the following Portfolio statement ending balances: $25,000 or more in qualifying linked FDIC-Insured accounts, OR $50,000 or more in qualifying linked bank, brokerage (available through Wells Fargo Advisors, LLC) and credit balances (including 10% of mortgage balances, certain mortgages not eligible)
Transfer Fees

Outgoing Account Transfer
$95
Outgoing Domestic Wire Transfer
$30
Outgoing International Wire Transfer
$40


Cash Management Fees

Returned Items (insufficient funds)
$35 (retail and business)
Deposited / Cash Item Chargeback $12


Physical Securities Fees

Safekeeping Fee
$150 per position
Physical Certificate Issuance/ Presentment for Safekeeping
$500 per security (minimum)
Rejection of Ineligible Certificates Presented for Deposits
$75
Replace Certificate Lost by Client
$100 + out-of-pocket expenses


Miscellaneous Fees

Returned Items (insufficient funds) $35 (retail and business)
Deposited / Cash Item Chargeback
$12
Foreign Financial Transactions Fee
Variable
Outside Investment
$250 per position annual charge
Deposit / Withdrawal at Custodian
$250 for outbound transactions
Account Research / Document Retrieval
$15 per hour, $5 per document (minimum one-hour charge)
Overnight / Delivery of Checks from Margin Dept
$15
Account / Global Depository Receipt Fee
Variable



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Wellstrade Review and Website Link


Wellstrade rating

Read full Wellstrade Review.

Wellstrade fees are as of 2018 and are subject to change. For the most recent information on the Wells Fargo brokerage fees go to their website:


WellsTrade Fees





Wellstrade Overview

Wells Fargo's discount on-line brokerage service is called WellsTrade. This firm comes with good mutual fund choices, but there are disadvantages in other areas. Let's make a detailed analysis of the broker and see how it compares to some of its rivals.


The WellsTrade Site


The broker's website has little information on it. Order history, account documents, activity, and performance can all be found. There is interactive charting, but it's more limited than what TD Ameritrade has. A markets page does display important information on worldwide financial markets. Other Wells Fargo accounts can be accessed with a single login, a nice feature for traders who are also bank customers.


WellsTrade Advantages


- WellsTrade has a good selection of mutual funds. Investors can buy and sell more than 10,000 funds. There are over 2,600 that have no transaction fee and no load. By comparison, Capital One Investing has a total of just over 1,000 mutual funds for its customers, while Merrill Edge offers just 800 no-load, no-transaction-fee products.

- Wells Fargo manages its own selection of 291 mutual funds, all of which are available on the WellsTrade site. More than 100 come with no load and no transaction fee. Most other brokers, including TD Ameritrade and E*Trade, don't manage their own funds.

- An effective screener at WellsTrade helps users to sort through all of the broker's funds. Search criteria include asset class, load status, risk profile, and turnover ratio.

- The brokerage firm is affiliated with one of the largest banks in the world.

- WellsTrade clients can take advantage of financial advice from a Wells Fargo Advisor. There is a fee for the service, but it would be useful for investors who need the extra help. Other brokers, such as OptionsHouse, don't provide such investment advice.

- The broker offers customer support over the phone 24 hours a day, 7 days a week. Other firms, such as Vanguard and Firstrade, don't have 24/7 service.


WellsTrade Disadvantages


- WellsTrade doesn't have a list of commission-free ETF's. Several other brokers do offer some exchange-traded funds that are free to trade. Firstrade has 12, while Schwab offers more than 200.

- Both the website and mobile app are a little slow to load pages.

- Research and educational materials are on the low side. The WellsTrade site has some good articles courtesy of Wells Fargo Advisors, but there is little else for security research. By comparison, Fidelity and Merrill Edge have more resources devoted to financial education.

- The broker's mobile app can't be used for technical analysis of securities. There is no live streaming of investment news either, and the app can't be used on Kindle Fire.

- The website is also deficient. There are only around 25 technical studies in the broker's charting software, and a chart cannot be displayed full screen. There isn't an advanced platform, even for active traders. Many brokers today do offer one, including Scottrade, Merrill Edge, Schwab, and TD Ameritrade.

- WellsTrade has yet to release an app for Apple TV or Apple Watch. Fidelity has both.

- The broker doesn't offer on-line chat as part of its customer service offerings. Other companies, including OptionsHouse and Schwab, can be contacted through a chat service.


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Cash Management Features


WellsTrade customers can have a debit card and checks with a Wells Fargo command account, which double as a brokerage account's core cash position. This command account has a very steep annual fee of $100. By comparison, Fidelity and Merrill Edge offer checks and a debit card free of charge.


Other Thoughts


Judged against other brokers, WellsTrade seems to be strongest in the mutual fund arena. Its commission schedule for stocks and ETF's is a little cumbersome compared to Scottrade's simple, flat $6.95 charge for all trades. WellsTrade's pricing for option trades is straightforward, but is nevertheless higher than both Fidelity and OptionsHouse. Bizarrely, the WellsTrade website does not have a stock screener. Most other brokers, including the low-cost Ally Invest, have a screener for equities.


Wells Fargo Brokerage Review Summary


Wells Fargo has tried to provide a low-cost brokerage arm aimed especially at its bank customers. Although it does have a good selection of mutual funds, it fails in most other areas.