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Learning, Sharing, and Teaching => Investor Alley => Topic started by: mechanic baird on June 22, 2012, 11:33:26 AM

Title: 100 free trades a year with Wells Fargo
Post by: mechanic baird on June 22, 2012, 11:33:26 AM
I want to share this with everyone if you have access to Wells Fargo at where you live.

They offer brokerage account with 100 free trades per year if you keep total $25000 assets with them. That includes your checking, saving, brokerage and part of your mortgage if you also have mortgage with them...

I like it a lot cuz I can simply transfer money from my checking or savings every month and buy ETFs, all for free.

I don't trade often so 100 free trades a year is plenty to play with..

If you have found other free trading deal, please share too... I start to dislike the $7 scott trade charges now..
Title: Re: 100 free trades a year with Wells Fargo
Post by: tannybrown on June 22, 2012, 12:19:09 PM
Fidelity has 30 or so ETFs that trade commission free.
Title: Re: 100 free trades a year with Wells Fargo
Post by: jpo on June 27, 2012, 11:03:40 AM
TD Ameritrade has certain ETFs that are free to trade, including several Vanguard funds.
Title: Re: 100 free trades a year with Wells Fargo
Post by: Scuba Stache on July 11, 2012, 01:51:43 PM
Bank of America / Merrill Lynch has 30 free trades a month if you have 25k in deposits(checking/saving/CD etc) OR 25k in Investment account (not a combo of both)
Title: Re: 100 free trades a year with Wells Fargo
Post by: arebelspy on July 11, 2012, 02:29:53 PM
These "deals" always seem penny wise, pound foolish to me.

1) You likely shouldn't be making that many trades anyways. (Smedley aside.)
2) So you save a few dollars on cheap or free trades.. and then pay more in expenses / expense ratios on your investments / opportunity cost on tying up their minimum deposit amounts.

I'd rather pay a little more for trades (which I do very infrequently, buy and hold, buy and hold) and have a much lower ongoing expense ratio.

YMMV, to each his own, do your own research and all that.
Title: Re: 100 free trades a year with Wells Fargo
Post by: MrSaturday on July 11, 2012, 05:18:02 PM
I never pay anything to invest in mutual funds or ETF's so it wouldn't help me, but I think for anyone investing in stocks having a big chunk of free trades would be beneficial to maintain diversity even if you're buying and holding.
Title: Re: 100 free trades a year with Wells Fargo
Post by: Secret Stache on July 11, 2012, 06:51:03 PM
These "deals" always seem penny wise, pound foolish to me.

1) You likely shouldn't be making that many trades anyways. (Smedley aside.)
2) So you save a few dollars on cheap or free trades.. and then pay more in expenses / expense ratios on your investments / opportunity cost on tying up their minimum deposit amounts.

I'd rather pay a little more for trades (which I do very infrequently, buy and hold, buy and hold) and have a much lower ongoing expense ratio.

YMMV, to each his own, do your own research and all that.

Only if you choose funds with those expenses/ratios, no?  I use WF's free trades with no expense, am I missing something here? 

Also opportunity cost on tying up funds?  c'mon its $25k with 1 bank, that should be covered by the single investment account alone. 

Title: Re: 100 free trades a year with Wells Fargo
Post by: mechanic baird on July 12, 2012, 09:55:47 AM
These "deals" always seem penny wise, pound foolish to me.

1) You likely shouldn't be making that many trades anyways. (Smedley aside.)
2) So you save a few dollars on cheap or free trades.. and then pay more in expenses / expense ratios on your investments / opportunity cost on tying up their minimum deposit amounts.

I'd rather pay a little more for trades (which I do very infrequently, buy and hold, buy and hold) and have a much lower ongoing expense ratio.

YMMV, to each his own, do your own research and all that.

Only if you choose funds with those expenses/ratios, no?  I use WF's free trades with no expense, am I missing something here? 

Also opportunity cost on tying up funds?  c'mon its $25k with 1 bank, that should be covered by the single investment account alone.

I didn't pay WF anything either.. No fees associated with owning some stocks. I don't trade frequently, but I do trade to buy some more stocks and hold them. I am actually selling some winners now to cash in the profit. This whole dooms day talk gets me nervous... Figured I can't let the greed get to me, time to cash out a few winners.. Again, my sell trade didn't cost anything..
 
Title: Re: 100 free trades a year with Wells Fargo
Post by: arebelspy on July 12, 2012, 07:37:49 PM
That's fair Matt, and if that's the case then that's fine.

I just - in general - feel like deals like these often trick people, and people go for them because they sound like it will save them money, but it often costs them in the overall picture.  Mostly because they don't know enough to realize all the variables they need to correctly calculate the best decision, they only look at one or two things and make their decision.  If you have thought critically about it, and it's worth it to you, great!  :)