WellsTrade Review
4.0/5

WellsTrade Review

En esta detallada reseña de WellsTrade, nuestro equipo de investigación de brokers online ha cubierto algunos de los aspectos más importantes que debe tener en cuenta a la hora de elegir el mejor broker para sus necesidades de trading online.
Más Info
Las operaciones con CFDs conllevan un alto nivel de riesgo y pueden no ser adecuadas para todos los inversores.
Home » Choosing an online broker » WellsTrade Review
Pros
  • Regulación estricta
  • Corporación de Protección de Inversores de Valores (SIPC)
  • Plataformas flexibles
  • Sin depósito mínimo
  • Cons
  • Apalancamiento restringido
  • Sin plataforma MetaTrader
  • Sin negociación de divisas, CFDs o criptomonedas
  • Sin procesadores de pago online
  • Las tarifas no son las más baratas
  • WellsTrade is an online brokerage with limited trading platforms and tools. They do have a vast range of instruments excluding Forex, CFDs and Cryptos. Fees are not the cheapest compared to other US brokers.

    show 1 WellsTrade Review, Pros & Cons 2 WellsTrade Overview 3 WellsTrade Regulation 4 WellsTrade Countries 5 WellsTrade Platforms 6 WellsTrade Trading Tools & Education 7 WellsTrade Instruments & Fees 8 WellsTrade Accounts 9 WellsTrade Support 10 WellsTrade Deposit & Withdrawal 11 WellsTrade Account Opening 12 WellsTrade Summary

    WellsTrade Review, Pros & Cons
  • Strict regulation
  • Securities Investor Protection Corporation (SIPC)
  • Flexible platforms
  • No minimum deposit
  • Restricted leverage
  • No MetaTrader platform
  • No forex, CFD or crypto trading
  • No online payment processors
  • Fees not the cheapest
  • In this detailed WellsTrade review, our online broker research team have covered some of the most important aspects for you to consider when choosing the best broker for your online trading needs.

    WellsTrade Overview

    WellsTrade is the online brokerage for Wells Fargo, who are a multinational financial services company founded in 1852, located in the United States and one of the world’s largest banks. The WellsTrade broker account is not the cheapest but may be considered for investors who are not interested in their own self-directed investing and those who already use Wells Fargo for their banking services.

    WellsTrade Regulation

    WellsTrade accounts are offered through Wells Fargo Clearing Services, LLC (WFCS) who are a member of the Financial Industry Regulatory Authority (FINRA) and the Securities Investor Protection Corporation (SIPC) scheme in the United States.

    FINRA enables investors and firms to participate in the market with confidence by safeguarding its integrity. It is a non-governmental organisation that regulates member brokerage firms and exchange markets.

    The SIPC is an investor protection scheme established in order to protect clients against the loss of cash and securities in case the broker cannot fulfil their financial obligations. The SIPC protection is limited to $500,000 with a $250,000 limit for cash.

    WellsTrade Countries

    WellsTrade is a US broker for residents of the United States. Some WellsTrade broker features and products mentioned within this WellsTrade review may not be available to traders from specific countries due to legal restrictions.

    WellsTrade Platforms

    WellsTrade investment and banking accounts can be accessed 24/7 on computer and mobile devices for convenient money management. Users can check their account activity, balances, holdings and performance.

    You can find ideas and stay informed using real-time quotes, charts, market news, screeners and watchlists. The mobile app is useful for those who wish to place and manage trades whilst on the go from anywhere in the world with an internet connection.

    The WellsTrade platform is limited compared to other trading platforms offered by online brokers such as the ever popular MetaTrader platform which is packed with powerful analysis tools and features.

    WellsTrade Trading Tools & Education

    WellsTrade brokerage clients have access to a limited selection of proprietary and third-party trading tools and research resources. These can be used to help with market analysis, finding potential opportunities, planning and managing investments.

  • In-depth market insights & commentary
  • Economic outlooks & intraday reports
  • Real time market news
  • Industry watch & performance ratings
  • Investment ideas from Wells Fargo Advisors & industry experts
  • Investing Basics offers general tips & information about investing
  • Screener tools to find stocks, ETFs, bonds & funds that match your requirements
  • Portfolio Tracker to monitor your portfolio, stream quotes, news & charts
  • WellsTrade Instruments & Fees

    The WellsTrade brokerage account offers trading on various financial products including stocks, exchange-traded funds (ETFs), options, mutual funds, bonds and certificate of deposits (CDs). Unfortunately, they do not offer forex, CFD or cryptocurrency trading.

  • Stocks & ETFs: $5.95 or $2.95 discounted rate when you link your WellsTrade brokerage account to your Wells Fargo Bank Portfolio by Wells Fargo $30.95 when broker assisted
  • Options: $5.95 plus $0.75 per contract
  • Mutual Funds: $35
  • Bonds: $50 per transaction
  • As broker fees can vary and change, there may be additional fees that are not listed in this WellsTrade review. It is imperative to ensure that you check and understand all of the latest information on the official WellsTrade website before opening a brokerage account.

    WellsTrade Accounts

    The WellsTrade online brokerage account gives you control over your investments. The standard account is suitable for general investing whereas the Traditional, Roth, and SEP IRAs accounts can be used for retirement planning. There is also an education savings account to plan for the future.

    With the WellsTrade brokerage account you can conveniently manage your investments, plan, select, and monitor your investment portfolio with trading tools and independent investment resources. There is no minimum deposit required to open an account.

    A WellsTrade account that is opened online comes with brokerage cash services, that offers additional money-movement options such as online money transfers between your Wells Fargo accounts and mobile check deposits.

    Margin borrowing is available but may not be suitable for all investors. When you use margin, you are subject to a higher degree of risk.

  • Standard Account: This is a general investing account for trading stocks, ETFs, options, mutual funds, bonds, CDs and more
  • Roth IRA & Traditional IRA: Savings accounts
  • WellsTrade Support

    WellsTrade has a knowledgeable customer service team on hand to provide 24/7 phone assistance. It would perhaps be more convenient for some customers if they offered online chat and email support.

    WellsTrade Deposit & Withdrawal

    WellsTrade brokerage account holders can make deposits and withdrawals online and through the mobile application using wire transfers. Customers can also transfer funds and securities from an existing brokerage account at another firm, mail in checks and go into a Wells Fargo branch to transfer funds in person.

    Some fees may be charged when using certain payment methods. Withdrawal requests are processed within the same day or next if outside working hours. The withdrawal time can vary depending on the payment provider and method. Bank transfers can take a few business days to clear.

    WellsTrade Account Opening

    The WellsTrade online account application usually takes around 5 – 10 minutes to complete, and most applications will be processed within one business day. You will need to provide personal information, choose your account type and funding method, verify and submit your application.

    Your information may need to be verified by third parties and you will need your social security number, employer name and address (if applicable) and income information. Once your account has been verified by the WellsTrade accounts team, you will be able to fund it and start investing.

    WellsTrade Summary

    Despite WellsTrade having huge backing from Wells Fargo, it does not have the cheapest broker fees. The platforms and tools offered are limited whilst the vast size of the corporation could mean that you will not get as dedicated a service as you would from some other online brokers. That being said, there are a range of trading instruments to choose from, not including forex, CFDs or cryptocurrencies.

    Trading complex instruments can come with a high risk. You should consider whether you understand how investments and trading work and whether you can afford to take the high risk of losing all of your money.

    Min $1 Deposit

    WellsTrade is an online brokerage with limited trading platforms & tools. They do have a vast range of instruments excluding Forex, CFDs & Cryptos. Fees are not the cheapest compared to other US brokers.

    WellsTrade Review Details

    Deposit Methods
    Spread
    Cost and Earnings
    Restricted Countries

    WellsTrade es el broker online de Wells Fargo, que es una multinacional de servicios financieros fundada en 1852, ubicada en Estados Unidos y uno de los mayores bancos del mundo. La cuenta de corretaje de WellsTrade no es la más barata, pero puede ser considerada para los inversores que no están interesados en su propia inversión autodirigida y aquellos que ya utilizan Wells Fargo para sus servicios bancarios.

    Más Info
    Las operaciones con CFDs conllevan un alto nivel de riesgo y pueden no ser adecuadas para todos los inversores.
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    Platform Security
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    Buy Options & Fees
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    Customer Service
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    WellsTrade Review
    4.0/5