Etrade vs wells fargo

Etrade vs wells fargoETRADE vs Wells Fargo/Wellstrade

Both ETRADE and Wells Fargo/Wellstrade have a flat fee structure, meaning regardless of how many shares you trade, you will always be charged the same base fee. The trade fees at ETRADE are more expensive than those at Wells Fargo/Wellstrade. ETRADE charges $9.99 per trade while Wells Fargo/Wellstrade charges $8.95 per trade.

While fees are significant when selecting a broker, it is also extremely important to consider additional criteria such as account requirements, broker expectations, and trading habits.

To open an account with ETRADE, you must deposit an opening account balance of $500. On the other hand, to open an account with Wells Fargo/Wellstrade, you need to deposit a minimum amount of $1,000. What more, ETRADE does not charge any service fees for maintaining the account, while Wells Fargo/Wellstrade requires a $60.00 monthly payment. And both brokers offer access to fairly advanced investment instruments, such as options and international investments.

To learn more about each broker, read on.

Investment banking,securities&markets

Investment banking,securities&marketsInvestment Banking, Securities & Markets

Investment Banking

Get investment banking advice on capital markets transactions, mergers and acquisitions, financial restructurings, and more.

Securities Markets

Gain access to the financial markets through our equities and fixed income sales and trading services, supported by a comprehensive set of capabilities including clearing, prime brokerage, alternative investment solutions, and market risk management.

Asset-Backed Finance Securitization

Research and Economics

Wells Fargo Securities is the trade name for the capital markets and investment banking services of Wells Fargo Company and its subsidiaries, including but not limited to Wells Fargo Securities, LLC, a member of NYSE. FINRA. NFA. and SIPC. Wells Fargo Prime Services, LLC, a member of FINRA, NFA and SIPC, and Wells Fargo Bank, N. A. Wells Fargo Securities, LLC and Wells Fargo Prime Services, LLC are distinct entities from affiliated banks and thrifts.

Stock trading hedging strategies,wells fargo enhanced stock market fund g

Stock trading hedging strategies,wells fargo enhanced stock market fund gStock trading hedging strategies, wells fargo enhanced stock market fund g.

16-Nov-2015 02:56 by Administrator

Hedge funds using equity long-short strategies simply do this on a grander scale. when the stock market declines sharply, long positions could lose more than. SAFE OPTION HEDGING IN STOCK MARKET TRADING. No strategy is safe just blunder. if there is any perfect strategy then why would. Feb 25, 2013. A portfolio hedging strategy is designed to reduce the impact of such a. For example, if you strongly believe that the stock market will decline.

Wells fargo foreign currency exchange rate

Wells fargo foreign currency exchange rateWells Fargo Foreign Currency

Whether individuals seek foreign currency exchange service or its services locations the bank provides full service range through customized solutions and information. Customers can purchase or order foreign currency either by person or through online. The bank charges nominal conversion fee for all purchase transactions.

Wells Fargo Foreign Currency Exchange Service

Wells Fargo bank, almost in every operating location buys and sells foreign currency. Some locations have even foreign currency on hand and tellers who are specializing in international foreign exchange. Wells Fargo provides services for purchase of foreign currency cash or travelers cheques. Customers are offered three different options for purchase and order of foreign currency cash and cheques. Individuals can purchase either through online or phone or by person by visiting the nearest branch location. To purchase foreign currency using online one should log on to ForeignExchangeServices. Wells Fargo customers can pay through their Wells Fargo checking account, while those non-Wells Fargo customers can pay for the currency using Visa® or MasterCard®. One can also purchase through phone by calling 1-800-626-9430, available Monday through Friday from 7:00 am to 6:00 pm and Saturday 8:00 am to 2:00 pm. And if one wishes to purchase foreign currency by person, one may use the International Teller Site Locator to first locate a foreign currency exchange locations of Wells Fargo banking store.

Wells Fargo Exchange Rate

Foreign Currency Exchange Rate fluctuates with time and situations. Individuals can call a Foreign Exchange Specialist for current rates. They can also avail real time exchange rates through Foreign Exchange Online. The online service allows one getting very quickly the available current rate and enables one to place an order without any hassle. The Foreign Exchange Online also allows one to enjoy Wells Fargo's competitive real time foreign exchange rates, and facilitate the convenience of transferring funds and payments throughout the world. Foreign Exchange Online service is available through Wells Fargo Business Online® or the Commercial Electronic Office® Business Portal. Customers may call 1-866-819-8972 to enroll in Foreign Exchange Online Service. For those individuals who travel abroad will also find airport as a convenient place to exchange currency but the foreign currency exchange rates that they charge are high. To get the current exchange rate please call the Foreign Exchange Specialist number at 1-866-819-8972.

Needless to mention, but rates for foreign currency wires and foreign bank drafts are different from the rates of foreign currency cash and foreign currency traveler's cheques. To know the available rates for wires and drafts or for any assistance please call 1-800-786-5593 and -800-678-4653, Option 3.

Detailed information of Wells Fargo Foreign Currency, its Exchange Services and Rates can be obtained through the official website of the bank.

Website: wellsfargo

Wellstrade®fees

Wellstrade®feesWellsTrade ® Fees

Some foreign governments impose a fee on purchases and sales of securities for companies incorporated in their countries. This fee is passed through from the foreign government to the client. If this fee is charged, the amount will be displayed on the trade confirmation.

Transaction fee applies per transaction (buy or sell). You can choose to buy or sell shares directly from the fund itself or its principal underwriter or distributor without paying a fee to Wells Fargo Advisors, LLC.

Termination Fee applies to full distribution of Traditional, Roth, SEP, and SIMPLE IRAs; fee is waived for clients over age 70? or accounts terminated due to death or disability.

Safekeeping fee is only charged on those securities eligible to be held in street name.

Deposit / Withdrawal at Custodian is the process of transferring shares between broker / dealer and the security issuer’s transfer agent. This fee applies only to transactions delivering shares from Wells Fargo Advisors to the custodian.

The minimum balance fee will be based upon the accounts in your WellsTrade household on June 30, 2014. If the total asset value of all your accounts is less than $5,000, a $25 fee will be charged to one account in September 2014. This fee will be waived for WellsTrade accounts linked to a Wells Fargo PMA ® Package by June 30 of each year, regardless of the PMA Package balance. The PMA Package is free of the $30 monthly service fee for each month that one of the requirements in statement-ending combined balances is met: $25,000 or more in qualifying linked bank deposit accounts (checking, savings, time accounts (CDs), FDIC-insured IRAs) or $50,000 or more in any combination of qualifying linked banking, brokerage (available through Wells Fargo Advisors, LLC), and credit balances (including 10% of mortgage balances, certain mortgages not eligible). Deposit products, including PMA Premier Checking account, offered by Wells Fargo Bank, N. A. Member FDIC.

Your total household value includes all assets listed in your WellsTrade account statements, except for those shown under the “Other Assets/Liabilities” section. The grouping of accounts into a household is based on account eligibility and family relationships such as children, parents, domestic partners and others. Certain accounts cannot be included in a household. Please call us at 1-800-TRADERS for more information and to determine whether all eligible accounts have been included in your household. It is your responsibility to ensure that all eligible accounts are included in your household.

WellsTrade ® accounts are available through Wells Fargo Advisors, LLC (member SIPC ), a registered broker-dealer and a separate non-bank affiliate of Wells Fargo Company.

Wells fargo to launch fx trading platform

Wells fargo to launch fx trading platformWells Fargo to Launch FX Trading Platform

ForexNewsNow - Renowned online trading technology provider Integral has announced that it had been selected to develop and launch an online forex trading platform for Wells Fargo and Company. The venture has explained that it had managed to complete the assignment in less than three months.

Integral Develops Wells Fargos New FX Platform

Leading trading technology provider Integral has recently had a press release that explained that it had been selected by the renowned financial services company Wells Fargo to develop a new forex trading platform that customers of Wells Fargo could use in order to trade forex online.

The venture has explained in the press release that the development of this platform only took three months. This has been achieved despite the fact that Wells Fargo had some very specific and distinct requirements regarding available features special trading tools.

Integral further added that the platform that was requested by Wells Fargo is a highly customized product that was specially designed to the customers of this renowned financial service provider.

The new forex trading platform will permit Wells Fargo to access liquidity from over 50 countries across the globe. Wells Fargo will be able to manage price making streams, customer specific offerings as well as liquidity sources using the hosted administrative tools created by Integral.

The platform developed by Integral will allow Wells Fargo to provide its clients with latest-technology forex trading services. Clients will be able to use the new tool to trade forex over the Internet without having to enter into direct contact with a representative of Wells Fargo.

Integral further explained that Wells Fargo will also be able to offer these new technological solutions to its clients in a very cost-effective way. This is possible due to the already existing relationship between Integral and Wells Fargo.

Wells Fargo also commented on the issue and explained that the reason the company has chosen Integral to develop its new forex trading platform is because Integral is capable of developing highly customized products that meet specific demands and go beyond the standard technological solutions that are available on the market.

About Integral

Integral is a renowned online trading technology provider. The venture has been founded in 1993 meaning that it has a very long experience in the online trading business. The company employs more than 150 top professionals and has offices in multiple countries around the globe.

One of the most important products of the company is the FX Grid which is a trading network that connects traders and brokers with a large number of major sources of FX liquidity. Additional products of the company include the FX Inside Professional execution management system, the FX Power Trader and the FX Cloud.

About Wells Fargo

Wells Fargo is a large US-based financial service provider. The company was founded in 1852 and has more than $1.3 trillion in assets. The companys headquarters is located in San Francisco. Wells Fargos main services are banking, investments, insurance, mortgage as well as consumer and commercial finance. The venture has offices in over 35 countries and has around 265,000 full time team members.

Trade on Integrals Forex Platform at Forex4U

Wells fargo foreign exchange online

Wells fargo foreign exchange onlineWells Fargo Foreign Exchange Online?

Mar 15, 10 10:41 am by Cha-cha-cha

As of today, WFB on their web site is offering to sell you a Euro for $1.4475, while according to Oanda the interbank ask rate is 1.36627. If I've done the arithmetic right, WFB's rate is nearly 6% worse. If you use a credit card and it's counted as a purchase, I assume (though I haven't checked) it would incur the usual extra 3% rip-off exchange fee.

Personally I would add in the shipping and handling fee, which can be substantial. Though technically speaking it's not a fee or commission, what matters to me as the buyer is how many Euros I end up with in my hand after I give them x number of dollars out of my hand -- that's the real exchange rate.

If you add everything together, I wouldn't be surprised if one ended up paying more than 10% for the WFB forex over the interbank rate.

Rummaging around in a drawer, I happen to find a receipt from when I changed $US to Euros some months ago at a Greek bank branch at ATH. Changing $300, I was given a rate of 1.4373415, on a day when according to Oanda's archived rates the interbank rate was 1.43070 -- so it was very close -- and I was charged a commission of Euros 7, which was (again if I've done the arithmetic right) a little over 3%.

Wellstrade by wells fargo brokerage customer reviews

Wellstrade by wells fargo brokerage customer reviewsWellsTrade by Wells Fargo Brokerage Customer Reviews

Wells Fargo self-directed brokerage customer positive experience and complaints, clients pros and cons.

Wells Fargo Brokerage Review: Trading Fees/Commissions

Minimum To Open WellsTrade Online Brokerage Account

A minimum deposit of $1,000 is required to open an account.

About Wells Fargo WellsTrade Self-Directed Investing

WellsTrade® is a comprehensive online brokerage account for self-directed investors. Whether you’re experienced or just getting started, we have the tools and resources to help you make informed investing decisions.

In 2015, in annual U. S. Self-Directed Investor Satisfaction Study (May 2015) by J. D. Power, WellsTrade is on the bottom of the list among all brokers participated in the study. Take a look at today's top 10 investment frims.

Brokerage Review Websites About WellsTrade Broker

"It is expensive to invest in or trade stocks and ETFs with WellsTrade: $8.95 per stock or ETF trade is higher than the average rate among online brokerage firms. Mutual funds are also expensive at $35 per transaction. Unlike most other brokerage firms, it charges $25 annual minimum account balance fee if account value is less than $5,000. The company has very high margin rates and suffers from slow-to-respond customer service. There are better brokerage companies for beginner investors than WellsTrade. We can't recommend opening a WellsTrade brokerage account unless you are already a Wells Fargo bank customer who invests infrequently."

Brokerage-Review

"Overall, the trader workstation is no more than standard at best, is slow to respond and certainly not suitable for active traders. If the registration process and high stock trading fees doesn’t put you off, then the basic trading screen with delayed portfolio information certainly will. The high fees don’t stop at stock trading: they boil over to mutual funds and other instruments too."

"Wells Fargo has an outdated website with terrible charts, average stock trading and decent research tools. Commissions and fees have been reduced in recent years but are still up in the high range among brokers. All of this coupled with the lack of an advanced trading platform or mobile apps eliminates Wells Fargo as a broker choice in our mind."

Wells fargo service lets small banks offer online foreign exchange

Wells fargo service lets small banks offer online foreign exchangeWells Fargo Service Lets Small Banks Offer Online Foreign Exchange

By building out Foreign Exchange Online to encompass smaller banks, Wells Fargo uses technology to fill a growing appetite for foreign-currency transactions.

Blending Internet technology with financial-services know-how, Wells Fargo & Co. has debuted a service allowing smaller banks under their own brand to offer foreign exchange services on their Web sites.

The service is an extension of Wells Fargo's existing Foreign Exchange Online, a real-time delivery system that can support a bank's foreign-payment and information needs via the Internet, including the ability to buy or sell currencies on a spot and forward basis, flexible reporting, and automated processing, the bank company said Thursday.

Customers of banks will be connected to Foreign Exchange Online via S1 Corp.'s Enterprise Platform, a popular online-banking software platform. Once there, they'll be able to initiate a variety of foreign-exchange transactions "that banks can't justify offering on their own because of the costly infrastructure that's required," says Gregg Napoli, senior VP of Wells Fargo Foreign Exchange Services. The $420 billion-asset Wells Fargo has had contract discussions with two such banks, he says.

The connection between the S1 platform and Foreign Exchange Online is provided by WellsXchange, a Web services-based system launched by Wells Fargo four years ago for conducting E-commerce transactions. Web services are software programs that let online apps communicate with each other.

Foreign Exchange Online is part of Commercial Electronic Office, a gateway to a host of commercial-banking services, including treasury, foreign exchange, brokerage, trust, electronic procurement, and credit and loan services. In four years, Commercial Electronic Office has grown to serve 60% of Wells Fargo's commercial customers. Last year, the portal processed nearly $6 trillion in online payments.

By building out Foreign Exchange Online to encompass smaller banks, Wells Fargo uses technology to fill a growing appetite for foreign-currency transactions. Free-trade pacts such as the North American Free Trade Agreement, as well as the introduction of the euro in 1999, have heightened demand among small businesses for foreign-exchange services. The growing number of foreign nationals living in the United States who look to send money to family members overseas also has spurred consumer demand.

Smaller banks, lacking the full-service capabilities of bigger banks, have traditionally satisfied this demand by forming correspondent banking relationships with the likes of Wells Fargo. Indeed, Wells Fargo last year extended Foreign Exchange Online to correspondent banks, letting them offer foreign-exchange services under their own private labels, with Wells Fargo providing back-office processing. Wells Fargo claims it's unique among banks offering similar private-label services in that its service is automated, eliminating all manual intervention. The deal with S1 allows those banks to include foreign-exchange services on their menu of online banking offerings.

Wells fargo to cut online trading fees

Wells fargo to cut online trading feesWells Fargo to cut online trading fees / Price war escalates with discounts for some bank patrons

Wells Fargo will jump into the nation's discount-brokerage price war today when it unveils new, lower online-trading fees for customers holding minimum deposit and credit balances with its banking unit.

Home mortgages are among the accounts that can qualify Wells customers for the online-trading discounts, the San Francisco firm said.

The move follows a succession of commission reductions by Charles Schwab Corp. E-Trade and other discount brokerages as they compete for the loyalties of active traders and high-asset clients. Banks by and large have stayed out of the brokerage-pricing fracas -- making Wells' move unprecedented, industry sources said.

Traditionally, diversified financial-services firms have not linked their brokerage fees to banking-deposit and credit balances. For instance, Bank of America does not consider customers' banking assets when setting the fees on the brokerage side of the business, a spokesman for the Charlotte, N. C. firm said.

Wells Fargo, the nation's fifth-largest bank, is cutting by half or more certain fees for online stock and mutual fund trades through its nonbank brokerage affiliate, Wells Fargo Investments LLA.

That unit, which includes Wells' insurance and brokerage businesses and assets held in trust, has $86 billion under management. It accounted for 15 percent of Wells' 2004 banking earnings.

The firm estimates that the unit's contribution to earnings can rise to 25 percent. Just 5 percent of Wells' 10 million banking households now use its brokerage services.

"Not everybody's got a whole lot of money in their brokerage account," said Greg Bronstein. executive vice president at Wells Fargo Investments. "We want to reward customers for having a significant relationship with us," meaning multiple accounts including savings deposits and automobile and home - equity loans.

Wells said its basic $19.95 online trading commission will drop to $9.95 for clients holding at least $25,000 in qualifying credit balances with the bank. Wells' lower commission is comparable to recently reduced fees for millions of discount-brokerage clients.

In the case of Wells' mortgage accounts, 10 percent of outstanding credit will count toward a customer's qualifying balance. For instance, a $250,000 mortgage alone would qualify a customer for the online-trading discount, the firm said.

Deeper discounts will apply to customers with larger banking balances. Customers with $100,000 in qualifying balances will be eligible for a $2.95 online-trading fee. Customers with $250,000 in qualifying balances will be eligible for up to 50 commission-free trades per year.

"To some extent, this is a competitive reaction to intense price competition" among discount brokerages, said banking analyst Joe Morford with RBC Capital Markets. Additionally for Wells, "it's one more way for them to capture more business out of their existing customer base." Morford owns Wells Fargo shares.

Rival financial-services firm Wachovia Corp. of Charlotte, N. C.. discounts equity-trading fees for customers with bank deposits of at least $25, 000. However, auto loans and home mortgages do not count toward to the balance that leads to the discount, nor does the discount apply to mutual fund trades, a spokesman said.

Wells fargo announces industry sbest commission-free online trading

Wells fargo announces industry sbest commission-free online tradingWells Fargo Announces Industry's Best Commission-Free Online Trading.

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Rewards Customer Relationships with 100 Commission-Free Trades per Year

SAN FRANCISCO -- Wells Fargo Investments, LLC, subsidiary of Wells Fargo Company (NYSE: WFC) and a leader in commission-free online brokerage trades, says it now will double its offer to 100 commission-free online trades per year through its top-rated WellsTrade([R]) online brokerage, and make it even easier for clients to qualify.

This expansion of its free online brokerage trade offer, effective today in all 50 states, includes stocks, no-load mutual funds and exchange traded funds (ETFs).The offer, which leverages the unique capabilities of a diversified financial services firm, is available to Wells Fargo PMA([R]) Package customers with balances of $25,000 or more in any combination of loans, credit balances, brokerage accounts, savings and checking accounts, IRAs, and even 10 percent of outstanding mortgage loans.

To qualify for 100 free online trades, customers link their WellsTrade account to a Wells Fargo PMA Package. The PMA Package is Wells Fargo's premier offering for investment and banking customers, carries additional savings through discounts and bonus interest rates, and combines all banking and brokerage account information in a single statement for easier management.

The new offer is designed to appeal to all types of investors, from buy-and-hold investors to more active traders. A broad range of current and potential customers who link their WellsTrade account to a PMA Package easily qualify for this relationship-based offer. A few examples include:

Qualifying WellsTrade customers who execute 100 commission-free online trades within a year's time will pay a low $5.95 fee for each subsequent online trade. Each year, the free offer automatically renews, and the 100 commission-free trades offer applies to each WellsTrade account the customer has. Those customers with more than one WellsTrade account will receive 100 free trades for each account.

"We're thrilled to offer our customers the best free trade program in the industry," said Rachel Perkel, senior vice president, brokerage client solutions, Wells Fargo Investments. "Investors who want savings and simplicity trade with the WellsTrade service." Wells Fargo is a leader in commission-free online brokerage trades and today's new offer allows customers even greater freedom in tailoring their overall relationship with Wells Fargo.

WellsTrade is a nationally recognized online brokerage ranked among the industry's top providers in annual reviews including SmartMoney's 2006 Broker Survey (August 2006) and Kiplinger's Personal Finance The Best Online Broker 2006 (July 2006).

"The new commission-free trade offer is the perfect complement to our industry-leading online and offline investment and banking services," added Perkel. "It solidifies our leadership position in relationship-based pricing and is another example of Wells Fargo's constant drive for innovation."

For more information on the WellsTrade online brokerage service please call 866-460-8475, or visit wellsfargo.

About Wells Fargo

Wells Fargo Company is a diversified financial services company with $482 billion in assets, providing banking, insurance, investments, mortgage and consumer finance through more than 6,000 stores and the internet (wellsfargo) across North America and internationally. Wells Fargo Bank, N. A. has the highest possible credit rating, "Aaa," from Moody's Investors Service and the highest credit rating given to a U. S. bank, "AA+," from Standard Poor's Ratings Services.

Investment Products - Not FDIC Insured - No Bank Guarantee - May Lose Value

Brokerage services and WellsTrade accounts available through Wells Fargo Investments, LLC (member SIPC), a non-bank affiliate of Wells Fargo Company.

Contact Wells Fargo Investments for a mutual fund's current prospectus, which contains more complete information on investment objectives, charges, fees, risks, and expenses. Please read and consider the information in the prospectus carefully before investing.

Integral selected to launch wells fargo’s new fx platform

Integral selected to launch wells fargo’s new fx platformAdvertising

FX Technology provider announces that they have been selected to launch Wells Fargo’s new FX platform. The new platform will operate over a customized version of Integral’s FX Cloud product and has been adapted to meet Wells Fargo’s liquidity, risk management, and customer needs.

According to Integral, highlights of the partnership include the firm’s ability to deliver the platform within three months and no upfront fees to Wells Fargo. For Wells Fargo, the FX platform allows them to offer trading services to their customers based on the bank’s sourced liquidity.

Integral Selected to Launch Wells Fargo’s New FX Platform

— System live in under 3 months

— Configured to meet unique liquidity, risk management and customer service requirements

— Integral charged zero upfront costs to Wells Fargo

SUNNYVALE, Calif. (October 15, 2012) — Integral Development Corp. (integral), a leading provider of FX trading solutions and services, announced today it was selected by Wells Fargo Company (NYSE:WFC), to launch Wells Fargo’s new FX pricing service. The platform allows Wells Fargo to electronically access liquidity directly and indirectly from over 50 sources, including market making banks, ECNs and professional trading firms.

Under the agreement, Wells Fargo manages its liquidity sources, price-making streams and customer-specific offerings from Integral’s hosted administrative tools. Despite a significant number of complex configurations such as creating tailored solutions including trading systems specific to each respective customer segment, Integral delivered the platform to Wells Fargo customers within three months.

“We are proud to partner with a renowned financial institution such as Wells Fargo and provide them with a solution that they fully control,” said Harpal Sandhu, CEO, Integral Development Corp. “The strengths of our cloud services and the improved access to the fragmented liquidity of FX markets will ensure that Well Fargo’s customers are getting the best service possible.”

Wells Fargo will be able to deliver innovative FX services to its customer base on a fully electronic platform, benefitting from all the efficiency gains including post trade processing (STP). Offering the full life cycle of FX as pre-integrated cloud services hosted by Integral, the solution is a custom-configured version of FX Cloud™, Integral’s open FX platform. Wells Fargo is also able to provide rapid and extremely cost-effective deployments for its customers due to pre-existing relationships Integral built with the majority of market participants.

“As Wells Fargo continues to strengthen our FX capabilities, we needed a reliable and effective solution that would ensure the best possible service to our customers,” said Steve Godfrey, head of Wells Fargo’s Foreign Exchange Ecommerce group. “Integral’s ability to customize their technology to our needs, while providing cost savings and time-to-market benefits made their platform a clear choice. We are very pleased with the results.”

About Integral

Integral develops and operates FX Grid®, a global Multi-sided Trading network connecting active market participants with all major sources of FX liquidity. Together with FX Inside Professional™, its real-time EMS, Integrals products represent the intersection of direct market access and algorithmic trading in the foreign exchange markets. Founded in 1993, Integral maintains development, support, and sales offices in Silicon Valley, Chicago, New York, London, Hong Kong, Tokyo, Singapore and Bangalore. Accel Partners is the lead investor in the company. For more information, visit integral. 2012 Integral Development Corp. All rights reserved. Integral technology is protected under U. S. Patent Nos. 6,347,307 B1 and 7,882,011 B2, patent pending applications and related intellectual property.

About Wells Fargo

Wells Fargo Company (NYSE: WFC) is a nationwide, diversified, community-based financial services company with $1.3 trillion in assets. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 9,000 stores, 12,000 ATMs, the Internet (wellsfargo ), and has offices in more than 35 countries to support the bank’s customers who conduct business in the global economy. With approximately 265,000 full-time equivalent team members, Wells Fargo serves one in three households in the United States. Wells Fargo Company was ranked No. 26 on Fortune’s 2012 rankings of America’s largest corporations. Wells Fargo’s vision is to satisfy all our customers’ financial needs and help them succeed financially.

Wells fargo links trading fees to customers bank balances

Wells fargo links trading fees to customers bank balancesWells Fargo Links Trading Fees To Customers' Bank Balances

Updated June 1, 2005 12:01 a. m. ET

Wells Fargo WFC -1.09 % Co. is cutting online-trading costs for stocks and mutual funds for investors who hold at least $25,000 in combined balances at the bank.

More on Brokerage Firms

Read more about online discount brokerage firms .

Wells Fargo, though, is among the first major banks to link its online-trading commissions with its clients' bank balances. The company says it will reduce commissions on stock and mutual-fund trades to $9.95 for self-directed investors who open up a relationship-based bank account, known as its Portfolio Management Account. Previously, investors had to pay $19.95 for each stock trade and as much as $35 to buy or sell mutual funds.

In order to qualify for the lower costs, customers must have at least $25,000 in combined balances across deposit accounts they have at the bank, such as checking, savings accounts, certificates of deposits and individual retirement accounts, as well as any brokerage accounts. Credit-card balances, auto loans and as much as 10% of any mortgage balances with the bank are also included.

Costs fall to $2.95 a trade for customers with balances over $100,000. Those with more than $250,000 get 50 free trades every 12 months; trades over that limit are $9.95 each. The lower fees for online mutual-fund trades apply to the roughly 2,000 mutual funds that are on the bank's transaction-fee platform. The bank also has 800 no-load, no-transaction fee mutual funds.

For Wells Fargo, the new pricing structure is an attempt to increase its brokerage business and get customers to consolidate more of their assets at the San Francisco-based bank, says Greg Bronstein, executive vice president in the bank's Private Client Services group. One of the bank's strategic goals is to increase its brokerage and investments business to 25% of the bank's income, from 15%, he adds.

It's unlikely that more banks will enter the online-brokerage business since the industry is in a stage of consolidation, not expansion, says Eric Reinford, an analyst at SNL Financial, a Charlottesville, Va. research firm. In fact, brokerage revenue as a percentage of total revenue for the 50 largest banks has been slipping in the past three years to 5.36% in 2004 from 6.11% in 2002.

Investors, however, will continue to benefit from lower trading costs, even given a successful Ameritrade and TD Waterhouse merger. The brokerage industry has lowered commissions to attract new customers because of excess capacity, a slowdown in trading activity and competitive pricing pressure, says Matt Snowling, an analyst at Friedman, Billings Ramsey Co. In addition, the firms have gotten more efficient at reducing costs. Since 2001, average commission rates have dropped more than 20%, but the average cost to execute that trade is down 35% over that same period.

Kellie anderson

Kellie andersonINTERNAL BUSINESS DEVELOPMENT CONSULTANT Wells Fargo Advisors

St. Louis, MO

I joined Wells Fargo Advisors in May of 2010 within the Access Online department. I have grown a lot since joining the team. My knowledge and understanding of the business has increased vastly and I truly have a thorough understanding through 5 years of experience with this firm and all of the opportunities it has allowed me. The knowledge includes but is not limited to advisory, lending, envision, deferred compensation, marketing, sales strategies, AFA program, FA forums, premier advisor, retention, recruiting and any other product or service that touches National Sales. I support a region with one Regional President, 550 Financial Advisors, 22 branch managers, 6 complex managers, 2 partners in the field, and any other member of the FAs team (CA/FC). My objective is to find a role in the financial services industry that utilizes my skills, experience, and education while challenging me and growing those skills and experience.

Опыт работы

St. Louis, MO

2014 до янв 2014

-Coach and train Financial Advisors in order for them to achieve personal and firm goals using best practices.

-Work with Branch/Complex managers and the Regional President to drive the Financial Advisors in order to hit goals.

-Make proactive calls adding value to the business.

-Work on side projects in order to help build Internal Sales brand

-Work on AFA program to increase retention of new Financial Advisors

-Driving sales and results for different firm initiatives and new products.

-Proving creative sales ideas and strategies in order to drive sales results of the region.

-Building and maintaining incredibly close relationships with the field and becoming their key resource.

-Helping Financial Advisors start their business and assist them in becoming more efficient and productive.

-Track all conversations in Salesforce and use Salesforce to run reports to target specific goals and benchmarks.

Wells fargo brokerage(wellstrade)review

Wells fargo brokerage(wellstrade)reviewWellsTrade Review 2015: Commissions, Fees, and Minimum Deposit

Wells Fargo Online Brokerage Account Setup

We decided to open a WellsTrade account linked to a PMA package (checking account) to get lower pricing. First, we went to a local Wells Fargo branch and were able to open the PMA package very fast. They give you your account and PIN numbers, which you can use to set up access to your checking account online. After that's done, we set up ACH transfer with our external bank account, which requires a deposit verification process. In two business days we saw the deposits in our external bank account and were able to finish ACH setup for the PMA package. Unfortunately, it turned out that Wells Fargo limits daily online transfers to and from external account to $2,000 and monthly to just $6,000. But to avoid the PMA package's $30 monthly fee, you need $25,000 in your PMA checking account. Half of your WellsTrade brokerage balance counts toward that requirement, meaning you alternatively need $50,000 in your WellsTrade account to avoid the monthly fee.

We had no choice but to go to a branch and make deposit to our PMA by check. Because the amount deposited was large, Wells Fargo made only $4,800 of the amount available three business days later, and for the rest we had to wait 10 days!

Once we finally had money in our PMA checking, we signed in into our account online, clicked the "Brokerage" tab, and filled out a few required forms. We were told our WellsTrade account would be approved two business days later. It actually took two weeks.

Wells Fargo is required to withhold 28% of all sales proceeds, dividends, and interest payments until the signed Account Services Agreement Signature Page is received. We filled this form out and emailed it to them; none of the other brokers require this procedure.

WellsTrade Website/Trading Platform/Tools Review

Wells Fargo Brokerage (WellsTrade) offers great selection of independent, third party investment research and education resources: market commentaries, profiles, SP Stock Reports and Morningstar® mutual fund ratings. Charts are less comprehensive than in most other brokerages. The gain/loss information on the positions screen is not updated right away. Overall, the WellsTrade trading tools are disappointing.

WellsTrade Pros

Good banking services

Good independent investment research amenities

WellsTrade Cons

High commissions if not in PMA program

For stocks below $1 per share commission is greater of $34.95 and 3.5% of principal

Poor trading tools

Horrible executions; randomly altered limit orders

High margin rates

$25 Minimum Balance Fee, if account is less than $5,000

$30 monthly service fee if linked PMA Package has less than $50,000 in all accounts

Shortened after-hours trading: 4:05 pm - 5:00 pm EST, instead of 4:00 pm - 8:00 pm EST

Wells Fargo Investments Review Summary

WellsTrade is a brokerage operation of the well-known Wells Fargo Bank. It is expensive to invest in or trade stocks and ETFs with WellsTrade: $8.95 per stock or ETF trade is higher than the average rate among online brokerage firms (the pricing is lower for those who are willing to hold $25,000 in PMA checking account or to have $50,000+ brokerage balance and open checking account too). Mutual funds are also expensive at $35 per transaction. The company offers shortened extended hours trading, and charges huge commissions on penny stock trades.

WellsTrade is offering its account holders a full range of banking services through its parent company Wells Fargo. The firm provides very good selection of independent, third party investment research.

Unlike most other brokerage firms, it charges $25 annual minimum account balance fee if account value is less than $5,000. The company has very high margin rates and suffers from slow-to-respond customer service. Its trading tools are archaic and slow compared to the competition. There are instances of limit orders changing price or being executed even if there is not enough money in the account.

For investors with large portfolios, Wells Fargo has a private advisory group. This enables investors to gain the benefits and attention given to clients at large brokerage houses, while retaining the benefits found in the banking environment. These clients are offered additional benefits and special pricing on services beyond their investments.

There are better brokerage companies for beginner investors than WellsTrade, that offer vibrant online communities, where users can ask questions, learn from more experienced traders and even get investment ideas. Some of them offer virtual trading that allows customers to practice trading without risking real money - check out our Best Brokers for Beginner Investor recommendations.

We can't recommend opening a WellsTrade brokerage account unless you are already a Wells Fargo bank customer who invests infrequently. There are a lot of other low-cost, highly-rated Online Brokerage Firms to choose from, that offer more value to their customers.

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