TD Ameritrade Follows IBKR, Schwab, Introduces $0 Commissions for Online Stock, ETF and Options

[Pekelo]

So box spreads are back in town?

 

[S2007S]

Woahh and I thought this news was coming in a week or two. I love love competition, thank you Robinhood for changing the industry. Now we have free trades for everyone.... I'll keep my Ameritrade account and trade for free there now, hopefully they eliminate all fees from their platform.

 

[S2007S]

One for the history books!!!!!

 

[GregorySG9]

Finally, should be $0 instead of $0.65 tho but I guess the SPX, NDX, RUT etc are more pricey?

Good question! I think we'll get the answer tomorrow when they will publish their fee schedule.

 

[S2007S]

Watch all the old traditional brokerages announce this news as if it were the best thing ever. But once again if it were not for Robinhood existing today they would still be charging commissions until the end of time. I believe they waited too long to come to zero commissions...but let's see what happens, maybe they will pick up new accounts and more assets this way. They said Schwab would need an additional $20 billion in assets to offset their trading commission losses.

 

[S2007S]

So today etrade will release zero cost commissions???
Or tomorrow?

 

[notagain]

FREE

 

[jocanton]

Are there any limitations an active trader would face with TD zero commissions account compared IB pro account? Would a pro account at IB which still charges $0.005/share be a better or worse deal than TD?

 

[murray t turtle]

Woahh and I thought this news was coming in a week or two. I love love competition, thank you Robinhood for changing the industry. Now we have free trades for everyone.... I'll keep my Ameritrade account and trade for free there now, hopefully they eliminate all fees from their platform.

%% HUH??
Several brokers did that before Robbin' [derivative of Robbing] Hood . Most likely help liquid stocks/volume ; small caps= will have to see.......................................................................

 

[LS1Z28]

So today etrade will release zero cost commissions???
Or tomorrow?

https://www.cnbc.com/2019/10/02/e-t...chwab-td-ameritrade-in-brokerage-fee-war.html
E-Trade drops commissions on trades, joining Schwab, TD Ameritrade in brokerage fee war
Retail brokerage firm E-Trade announced Wednesday it will drop commission fees on online U.S. stock, ETF and options trades.

The move comes within a week of Interactive Brokers, Charles Schwab and TD Ameritrade all dropping their commission fees. Shares of all the brokerage firms have been getting hit this week on fears that a lack of commission revenue with hurt margins.

E-Trade’s new fee structure will start on October 7. Options will still have a 65 cents charge per contract.

“With this new commission schedule we are further raising the bar, delivering an unrivaled experience at price points that cannot be beat,” said E-Trade chief executive officer Mike Pizzi in a press release.

E-Trade estimates a quarterly revenue impact of $75 million from dropping fees.

Bank of America estimates E-Trade gets about 17% of revenue from commission. TD Ameritrade generates 28% of revenue from commissions and Schwab generates only 8% from revenue.