Platform Comparison

Tastytrade vs WellsTrade

Compare Tastytrade and WellsTrade on fees, DRIP, fractional shares and research for dividend investing.

Higher Rated
TT

Tastytrade

★4.4

The options-focused platform with low contract fees, excellent education, and DRIP support—ideal for dividend investors using covered call strategies.

Full Review
WF

WellsTrade

★3.8

WellsTrade is Wells Fargo's self-directed brokerage (not the advisor-led Wells Fargo Advisors) for existing customers who want banking and investing under one roof—basic but functional.

Full Review

Tastytrade vs WellsTrade: Fees, Minimums & DRIP Compared

FeatureTastytradeWellsTrade
Our Rating4.4/53.8/5
Trading Commissions$0$0
Account MinimumN/A$0
Fractional SharesYes ($5 min)Yes (min $10)
DRIPFreeFree
Research ToolsBasicBasic
Best ForCovered Call WritersWells Fargo Banking Customers

Tastytrade vs WellsTrade: Pros and Cons

Tastytrade

Pros

  • + Commission-free stock and ETF trading
  • + Low options pricing: $1 to open, $0 to close (capped at $10/leg)
  • + Fractional shares available for purchases and DRIP
  • + Free dividend reinvestment program
  • + Exceptional options education and content

Cons

  • - Very low 0.01% interest on uninvested cash
  • - No mutual funds, bonds, or forex trading
  • - Higher-than-average margin rates
  • - Steep learning curve for beginners

WellsTrade

Pros

  • + Commission-free online stock and ETF trades
  • + Free dividend reinvestment with per-security selection
  • + Fractional shares through Stock Fractions program (min $10)
  • + Integration with Wells Fargo banking accounts
  • + No management fees for self-directed accounts

Cons

  • - Very basic investing platform with limited tools
  • - High margin rates (8.5%-12.5%)
  • - No pre-market trading available
  • - Limited after-hours trading (mobile only, until 6:30 PM)

Which Is Better for Dividend Investors: Tastytrade or WellsTrade?

Choose Tastytrade if you...

  • Are in Tastytrade's core audience: covered call writers
  • Prefer a higher-rated overall platform

Choose WellsTrade if you...

  • Are in WellsTrade's core audience: wells fargo banking customers

Want the full breakdown of fees, DRIP, and research tools? Read our Tastytrade review and WellsTrade review.

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Investment Disclaimer

Investing involves risk, including possible loss of principal. Past performance does not guarantee future results. This content is for informational purposes only and should not be considered investment advice.