E*TRADE (ETFC) Cuts Trading to $9.99 or Less, Eliminates Account Activity Fees
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On Friday, E*TRADE FINANCIAL Corp. (NASDAQ: ETFC) lower trading prices and other fees for clients, which is likely in response to lower price options from rivals.
E*TRADE eliminated its $12.99 commission tier and account activity fees.
Starting February 8, 2010, all customers of E*TRADE Securities will benefit from $9.99 or less per stock and options trade pricing (plus a $0.75 per options contract fee), while higher volume traders will continue to enjoy the current $7.99 per trade rate.
In addition, E*TRADE Securities has eliminated annual IRA account fees; a per share commission formerly applied to market trades larger than 2,000 shares; and, effective in the second quarter of 2010, all account service fees.
"Our simplified pricing provides a cost-effective, transparent solution for investors," said Michael Curcio, President, E*TRADE Securities LLC. "The new pricing structure complements our innovative product offering and high quality service, and reinforces our commitment to offering a compelling value proposition to our customers."
E*TRADE eliminated its $12.99 commission tier and account activity fees.
Starting February 8, 2010, all customers of E*TRADE Securities will benefit from $9.99 or less per stock and options trade pricing (plus a $0.75 per options contract fee), while higher volume traders will continue to enjoy the current $7.99 per trade rate.
In addition, E*TRADE Securities has eliminated annual IRA account fees; a per share commission formerly applied to market trades larger than 2,000 shares; and, effective in the second quarter of 2010, all account service fees.
"Our simplified pricing provides a cost-effective, transparent solution for investors," said Michael Curcio, President, E*TRADE Securities LLC. "The new pricing structure complements our innovative product offering and high quality service, and reinforces our commitment to offering a compelling value proposition to our customers."
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