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.
Cheaper doesn’t always mean better. Anyway, how’s the UI and fills on Tasty? I think Robinhood is done. Lol
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.
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