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Are they competing with robinhood or are they trying to put pressure on E*TRADE and ameritrade? Why did they do this?
by yalogin 7y ago
Are they competing with robinhood or are they trying to put pressure on E*TRADE and ameritrade? Why did they do this?
- kelnos 7y agoEtrade and Ameritrade did end up following suit and slashed their commissions to zero as well. But yes, I expect they're afraid of losing customers to RobinHood. Given that brokerages typically make very little on commissions (the real money comes from interest on cash deposits), dropping commission fees is probably a great move.