WellsTrade: Free Trades With Easy Qualification

This is old news but since it wasn’t included when I gave TFB Awards three years ago I thought I’d mention it now. WellsTrade is an online brokerage service offered by Wells Fargo Investments, LLC. Its most attractive feature is 100 free trades a year.

To qualify for 100 free trades, you only need $25,000 in any combination of banking, brokerage, and credit balances with Wells Fargo (mortgage balance counts at 10%). The brokerage piece is the key. Bank of America also offers free trades but the qualifying balance has to be 100% on the banking side. You can’t use the brokerage balance to qualify.

100 free trades per account include open-end mutual funds in addition to stocks and ETFs. No other brokerage accounts let you buy Vanguard mutual funds for free. Small online broker Zecco offers free trades with $25k balance but the free trades don’t cover open-end mutual funds.

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