Wells Fargo Advisors Kicks Off Free Self-Directed Stock, ETF Trades

Wells Fargo & Co WFC announced the adoption of zero-cost trades on its WellsTrade self-directed trading platform on Monday. 

This development follows Bank of America Corp's BAC announcement that introduced commission-free trading of stocks, ETFs and options for all Merrill Edge self-directed clients.

“WellsTrade offers investors an online solution to make independent investment decisions. We know do-it-yourself trading is one of several ways investors manage their money,” Wells Fargo Advisors President Jim Hays said in a statement. 

“We believe Wells Fargo Advisors is well positioned to serve clients who value the convenience of online investing, or a full-service relationship with a financial advisor, or who desire a holistic relationship that offers both.”

Free trades became popular after Robinhood pioneered the large-scale, commission-free retail trading model that many established brokerages have since adopted.

Now, traders and investors, through the WellsTrade platform, have access to real-time quotes, interactive charting, Wells Fargo research as well as stock, ETF, mutual fund and options trading functionality.

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