Charles Schwab Ending Online Trading Commissions on U.S.-Listed Products

[OfTheCross]

Shots fired at the rest of the industry. The day will soon come where stock trades are free everywhere.
Charles Schwab Ending Online Trading Commissions on U.S.-Listed Products

good shyt. I got some money sittin at Schwab, I need to do something with it

 

[Starski]

Off to think or swim

 

[Skooby]

Off to think or swim

Who you with now?

 

[GPBear]

I'm broke af so never played stocks and this is probably a stupid question but how are these companies going to stay in business without taking commissions? I assume they have stocks themselves, but what benefit do they get out of letting people trade for free?

 

[Skooby]

I'm broke af so never played stocks and this is probably a stupid question but how are these companies going to stay in business without taking commissions? I assume they have stocks themselves, but what benefit do they get out of letting people trade for free?

They may have other ways of generating income...like interest on assets or various fees.

Schwab is a bank first, so I imagine they make most of their income from interest.

 

[GPBear]

They may have other ways of generating income...like interest on assets or various fees.

Schwab is a bank first, so I imagine they make most of their income from interest.

thanks breh
That's what I figured, it's just the first time I've ever heard of a bank actually giving up money and offering a service for free except those pens you yank off the chain, or giving you discount on your gas.

 

[Starski]

W

Who you with now?

webull

 

[theworldismine13]

I'm broke af so never played stocks and this is probably a stupid question but how are these companies going to stay in business without taking commissions? I assume they have stocks themselves, but what benefit do they get out of letting people trade for free?

first of all being broke is not an excuse now, you can buy stocks for free now

robinhood started the trend and its the easiest to use so you should start with them The way robinhood makes money is from interest in cash deposits and interest from margin loans. I dont understand all the details tbh but they also make money from the actual selling and buying by skimming cents off the trades

 

[drifter]

Fidelity will have zero commissions starting today at 9:30

 

[winb83]

Fidelity will have zero commissions starting today at 9:30

Better late than never.

 

[winb83]

Moving much of my portfolios into Fidelity. I still have some securities I'll keep in SoFi but everything I had split between SoFi and Chase like shares of Abbvie, Verizon, and Ford will all be moved to Fidelity and my Chase account is entirely being moved over. Chase simply doesn't offer anything worth me keeping that account now that Fidelity is free.

SoFi still at least has partial shares which I can't purchase on Fidelity.

 

[BushidoBrown]

You sound like a dude who hates Robinhood but is too cheap to pay for trades anywhere else.

They aren't doing this to spite Robinhood, they're doing this because of Robinhood. Robinhood revolutionized stock trading. They didn't lower the bar,they got rid of it and now all these big investment firms are scrambling to keep up. Charles Schwab was one of the first firms saying that Robinhood is stupid and that free trades wouldn't work and will fail miserably. Now look at them.

look how the narrative change

My 2 years of free trades with fidelity just ended.. I'm about to move to one of these commission free accounts.

hope u waited a few days after posting this

 

[Pimp]

look how the narrative change

hope u waited a few days after posting this

Still have it. I opened another account anyway just to compare.

 

[winb83]

I got nailed when I transferred from Chase to Fidelity. A $75 ACAT fee and I was forced to liquidate all my partial shares. I think I'll just leave my SoFi account alone.

 

[drifter]

Update, now allowing fraction stock purchases

The latest in the brokerage wars: Charles Schwab will allow people to buy fractions of stocks