On the back of the announcement that Charles Schwab would be removing commission on stocks, ETFs & Options TD Ameritrade has announced that effective October 3rd they will also be removing these commissions. Users will still need to pay $0.65 per options contract (in line with the Charles Schwab pricing). Competition is a beautiful thing.
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Did Fidelity just announce zero commissions? https://www.wsj.com/articles/fidelity-is-latest-to-cut-online-trading-commissions-to-zero-11570680060
I’ll post shortly, thanks
I wonder if Fidelity will be next.
Sales of your stock probably will not be completely free. There is a small transaction fee for all sales. But then again. the commission was already tiny.
thank you robinhood
(x-post with Schwab thread)
Are there any relationship bonuses with TD Ameritrade or Schwab like BoA?
Having a relationship allows you to open up their respective cc.
And an annual credit of $100 or $200 for the Schwab Platinum card, if your balance is high enough.
“Please take our shares in a bear market for free.”
Tastyworks, started by the founders of ThinkorSwim, has driven these firms to cut commissions. Tastyworks has been charging $1/contract on opening options trades and $0/contract to close positions for over 2 years. At $1 round trip they will still be cheaper than TD Ameritrade. They are also getting ready to launch their own futures exchange, the Small Exchange, that will offer smaller contract sizes. I quit using TD within weeks of Tastyworks opening up.
Firstrade and Robinhood already offer options trading with no commissions AND no contract fees. Tastyworks has a good offering, but does not lead on costs.
Cheaper doesn’t always mean better. Anyway, how’s the UI and fills on Tasty? I think Robinhood is done. Lol
Awesome. Does it apply to all products including retirement accounts like IRA, Roth IRA?
Bad news if you own AMTD. Shares down 25+% today. Likely more tomorrow after this announcement.
Does this apply to IRA or HSA accounts?
All accounts