by Fred Fuld III
You have probably already heard the news that Schwab (SCHW) is eliminating all commissions on stocks. This caused all the other brokerage firms to drop in price due to the fear that customers will be transferring their accounts over to Schwab. TD Ameritrade (AMTD) dropped in price by 25% today in response to the news.
However, TD Ameritrade didn’t waste any time in responding. They are also slashing their prices on commissions to zero on stocks, ETFs, and options, as of October 3.
What will be next? Getting paid to trade at a broker?
Disclosure: Author didn’t own any of the above at the time the article was written.
