WellsTrade Review

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Wells Fargo brokerage customer reviews, complaints, ratings, pros and cons. Is WellsTrade good and safe investment firm to open an account?

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WellsTrade Customer Reviews

by Marc NYC, 8/2/2018

Pros:

Cons: Wels Fargo

Serious error in my Wells Fargo brokerage account:
Recent trading activity is not reflected in summary, numbers are completely wrong.
After three calls in four days, three explanations, all from the beginning since there was no record of previous conversations, and the same lame, phony response "we're working on it and we'll get back to you, the problem persists. No calls, nothing is getting corrected.

THIS IS SERIOUS. THESE IDIOTS SHOULD NOT BE IN THE BROKERAGE BUSINESS

by Shermel, 7/2/2018

Pros: None

Cons: Seriously lacking customer service

In the process of opening a new account in WellsTrade and moving funds from a deceased family member's WellsTrade account into that account it took three months of misleading information and forms that the staff didn't even know how to fill out. Finally I looked to someone from the Wells Bank side which is not associated with WellsTrade to get things moving otherwise we would never had been able to recover these funds.

There is no one in this world I hate bad enough to recommend they invest with WellsTrade .

by Stellar, 6/5/2018

Pros:

Cons: The worst customer service for brokerage

I tried to buy a clean energy stock and WellsFargo brokerage blocked me
They manipulate the markets and they hold most of the dirty oil stocks
Shame on you WellsFargo brokerage

by Snehal, 3/6/2018

Pros: great pricing for Portfolio checking...$2.95/trade

Cons: horrible graphical analytics options

Gave them 3 stars because they have favorable fee structure but have worse graphing tools and options than freely available tools at investopedia.com

by graengr, 2/1/2018

Pros: Relatively low cost trades

Cons: Terrible customer service

Philippine call center personnel, frequent bad decisions by unaccountable "back office" personnel, faxed formwork routinely rejected without acknowledgement or corrective actions indicated, inconsistent directions by telephone reps, staff never return phone calls.

When I find a better low-cost broker, WellsTrade is history!

by cornelia faw, again, 5/1/2017

Pros:

Cons: I DID NOT GIVE WELLS FARGO 5 STARS! GET RID OF THIS GOD DAMN FEE OF $150. I READ THRU OTHER CONS & THEY ARE COMPLAINING ABOUT FEES IN 2012? HOW ABOUT 2017?

by cornelia faw, 5/1/2017

Pros:

Cons: what's up w/this annual fee going up & up for those of us who don't have $250,000? Am I the only WF investor who will get $150 deducted from my 9/17 dividends, leaving me with $126 for the month?

by cornelia faw, 5/1/2017

Pros:

Cons:

by Raj, 3/13/2017

Pros: None

Cons: EXTREMELY slow trade execution, still require manual papers to be signed for options account, poor customer service, poor layout of trading platform

EXTREMELY slow trade execution, still require manual papers to be signed for options account, poor customer service, poor layout of trading platform,
stock alerts disappeared in new UI and even their customer service traders can't find it!

by L r jarodsky, 9/4/2016

Pros:

Cons: Customer service in the philippines, does not make me feel confident, non responsive mgmt

This is a cluster of many firms that has not become a cohesive unit because of poor leadership, Mary Mack was a joke, totally unavaileble and didn't even put down roots in St. Louis., new leader David said we are not a silk stockings firm, we are like Sears. That's just what I wouln't want but then he is if the Sears caliber. There are good leader out there but it takes a commitment to this business you can't just recruit strong advisors and recruit weak mgmt.

by They can burn in hell, 8/31/2016

Pros: none

Cons: lost hours of my life on the phone with them

These bastards froze my account right after it opened. I called them at least 10 times to resolve the issue. They would leave me on the phone for 30 minutes then just hang up. Claim they needed paper work that I had already sent them. Claim that they would call back then not call back.

Then they changed my $50 dollars to close out of my two positions that I couldn't close, because the account was frozen.

There isn't a pit in hell hot enough for this call center full of incompetent idiots.

by John Fredricks, 3/15/2016

Pros: VERY Few, if any

Cons: Terrible customer service by licensed personnel, complete lack of knowledge, and the "customer service" is in the Philippines.

I am a long-time Wells customer and I've finally had it with them. Constant misinformation, VERY slow processing, terrible online trading interface (with very little info - Google and Yahoo have better info, and even Fidelity, which ain't no great deal itself, provides better info than Wells). Combine the bad service, etc. with among the highest range of fees around and Wells Fargo Brokerage / Advisers simply isn't worth it. There are much better choices out there that provide better service, better info and charge lower fees.

by S, 3/15/2016

Pros:

Cons:

The brokerage cash from sold stocks cannot be used to buy new stocks. Get stuck for hours now and not sure when these cash can be used for trading.

by dan, 2/4/2016

Pros: None

Cons: put restrictions on your account and you can't trade for days

you get stuck since your stocks are in wells trade account and you cannot access same since you have online trading restrictions(they put this anytime).

customer service is the worst. they say we will call you and nobody calls and you are in great trouble since you cant buy/sell stocks during business days...

by Sargent, 12/28/2015

Pros: NONE

Cons: POOREST CUSTOMER SERVICE

I have been a Wells Fargo Customer since 1972. This area of services I give them an F- they failed to do what I asked in selling NCR stock and it has cost me $. They have not offered any accountability for their error in the lack of follow through with my request to sell.

If my business received these many reviews of all 1 stars and every review listed is a 1 star I would address them and take a hard LOOK at the service.

Their failure to address these 1 star reviews is another demonstration of their lack of CUSTOMER SERVICE WITH NO ACCOUNTABILITY!

by Red2015, 7/14/2015

Pros: none

Cons: Worst customer service!

They coded my IRA for the wrong year and it took two months of calling them to get it corrected. They kept saying they would call me back and nobody did. After I spoke to 6 different reps, I finally got it corrected. I immediately rolled it over to my Fidelity account and WellsTrade charged me a $95.00 fee. They wouldn't wave the fee even after what they put me through. I've been a customer for more than 13 years and I closed all my accounts over this matter. I don't trust them with my money, nor my retirement. For being such a large firm, it's pathetic they have such poor service. DO NOT USE THEM!

by Big Moose, 5/15/2015

Pros:

Cons:

WellsTrade is a great broker as long as you don't need them. They only suck when you need them! I have been a long time customer and I am really disappointed how bad they are..

by choco, 3/11/2015

Pros:

Cons: Customer service is very poor

Customer service is very poor. Just headache to open account. They have set up 2 accounts by mistake and set up wrong bank account to transfer funds. After a few month opening they are telling me that they need a copy of SSN card...though they know our SSN. If they really need it why they did not tell me when I opened the account? It is also strange that they did not request me by writing for such a formal document, instead they just keep phoning me.

by Edward, 12/18/2014

Pros: 100 Free Trades per annum

Cons: Poorly designed website, IMPOSSIBLE email and phone service, poor execution of trades

This is 3 stars until you need help of ANY sort. They reply to you a day or two later, generally saying they cannot answer your question, but call the 800 number. If you get through to a trader within ten minutes, you must have lived numerous virtuous past lives. They are always having "unusual" call volume.

As for execution, I have NEVER before (in nearly half a century of investing-had the experience I recently had with Wells Trade. Placed a limit buy. Stock dropped to my price, dropped a penny lower, another penny, then three cents lower--traded there several times. No execution.

You get what you pay for--and, if you dare use their 800 number, all the aggravation you ever didn't want.

by craig richard, 12/17/2014

Pros:

Cons:

I opened a brokerage account with Wells Fargo in 2014. As this was my first trading account I called the 800 number. The guy I talked to emailed me info on what I had to do. I went to the links and signed stuff. But not everything, one month later they froze my account and gave the IRS $8661 out of the account without asking me. They did send me a letter to my new address as we had just moved after a house sale but I did not realize it; no emails or phone calls. I consider that theft unless the government called and told them to do it and one month later I really, really doubt it. All I get out of them is they cannot get my money back but they sure did not have any problem taking it. I am going to IRS and see how all this happened but I definitely would NOT recommend anyone opening an account with them.

by Anonymous, 4/23/2014

Pros:

Cons:

I closed my all my WT accounts (taxable, Roth IRA, Trad IRA) and now all my money is at Fidelity. 401K is with Vanguard.

Fidelity picked up the $95 closing fee for each account.

I'm sick of their no customer service(no other brokerage comes even close), lack of funds and waiting many times one day after I sell to buy instead of buying on the same day at Fidelity (This wait most times will cost me all the savings).

In the last several months I could find only one fund to buy but I could buy only investor share while I can buy the Instit share at Fidelity for free. This is already $250 difference in ER per each $100K.

Fidelity has everything I need with great customer service. I’m glad to say they didn’t make any mistake in 17 years and I’m a tough customer.

So why I opened WT accounts years ago

1. 100 Free trades per account per year. My calculation show it’s about $150-200 per year for me but as I stated before waiting one day + ER difference at Fidelity is a better choice.

2. WT allowed me to buy hard to get funds like SGIIX,PGDIX,TTRZX. Now you can’t get many funds I care about

BTW, Wells Fargo the bank is not good either. Their online system is behind (mmm…same pattern of bad IT). A few times that I needed to notarize documents I had to wait 15-20 minutes. My main bank, Bank of America, has great online services and excellent in branch services.

Lastly, having everything in one place would make it a lot easier for my wife when I'm....

See ya WF+WT

by tardinator, 4/13/2014

Pros:

Cons:

I've been using Wells Fargo for over a year now. I was able to take advantage of their 100 free trades per year per account promotion and am happy with it from that perspective. The trading itself is a bit clunky and slow at times, but I have simple needs and use limit orders so I can't complain.



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Brokerage Review Websites About WellsTrade Broker


"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."

Wise Stock Buyer

"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."

Online Broker Review

WellsTrade Account

Minimum to open: $0 for a cash account or an IRA.

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.

WellsTrade is rated very low among Best J.D. Power Self-Directed Brokers. The brokerage finished one before the last among all brokers participated in the study in the annual study.


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WellsTrade reviewed by former and current clients. WellsTrade customer reviews: 22. Rating: 2.