SE: E*Trade Joins Schwab, TD Ameritrade in Fee War Escalation
Bloomberg Markets & Finance via Youtube
Oct.02 — E*Trade cut trading commissions to zero, joining major rivals in the race to the bottom and setting the stage for mergers among discount brokerages. The end to commissions on U.S. listed stock, ETFs and options trades will go into effect Oct. 7. Its options contract charge will be cut to 65 cents per contract for all traders. Charles Schwab and TD Ameritrade also slashed trading fees to zero on Tuesday. Will McGough, CIO of retirement products at Stadion Money Management, talks with Bloomberg’s Scarlet Fu, Eric Balchunas and Carolina Wilson about the price war, Chinese ETFs and the week in flows for fixed income and equity funds.