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E*TRADE Zero Commission on U.S. stock, ETF and options trades. Starting 10/7

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https://about.etrade.com/newsroom...7436705191

E-Trade is getting rid of commission fees on 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.

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

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.


https://www.cnbc.com/amp/2019/10/...e-war.html
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Created 10-02-2019 at 01:25 PM by Cappy123
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#2
Glad to hear Robin Hood forced these guys to all go commission free. Stuck with Etrade as Robin Hood was a little too simple when I tried it.
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#3
Thanks for the update. Just moved over to E*TRADE.
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10-02-2019 at 01:40 PM
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#5
would depend on execution. If paying gives me better execution, i would. especially when you have large orders.
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Quote from javamaan
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would depend on execution. If paying gives me better execution, i would. especially when you have large orders.
thisWave
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#7
I have both Robinhood and E-Trade, having moved most of my crap portfolio to RH over time, because of the no commission. The migration will now start in the other direction, since ET has more tools, like limits and stops. RH's only remaining saving grace is that options trading is still commission-free, while these other brokers will still charge per contract.
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#8
TD Ameritrade will start their $0.00 commissions on Oct 3.

https://www.tdameritrade.com/pricing.page
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#9
Quote from Brewskie
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Robin Hood didn't force either of them to do free commissions. This was all about the Scottrade merger.
LOL. Robinhood started it, but now Sofi, Square, Stocktwits Trade App are all getting into the game. These brokerages had no choice.

Quote from jmunger
:
I have both Robinhood and E-Trade, having moved most of my crap portfolio to RH over time, because of the no commission. The migration will now start in the other direction, since ET has more tools, like limits and stops. RH's only remaining saving grace is that options trading is still commission-free, while these other brokers will still charge per contract.
Yup, exactly why I tried Robinhood for a little bit, but took all my money back out and went back to Etrade. I've only tried Etrade, Ameritrade and Robinhood.
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Last edited by oghowie October 2, 2019 at 02:55 PM.
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#10
Is this still a $500 minimum balance to open or can I deposit the $500 and move it out? Just want to make an account to see if I like the platform...
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Quote from javamaan
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would depend on execution. If paying gives me better execution, i would. especially when you have large orders.
yeah .reminds me of loyal3. We'll process the "free" order sometime in the AM. Meanwhile i lost $$$

Q is the $4.95 order any better. I'm thinking about interactive brokers
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#12
Definitely moving away from shity Robinhood now. I can speak to their slow trade times definitely cost me quite a bit of money. Which one do you guys recommend E-Trade or TD?
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#13
Anything from ally bank? I want to move away from robinhood, but dont want to make another account at another broker.
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#15
How this is better than Robinhood? Sorry I am new to stock market
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