Charles Schwab to Reduces Brokerage Fees
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FacebookI recently learned that Charles Schwab is reducing the price of trades through their online brokerage to a flat rate of $8.95/trade. The new commission structure goes into effect on January 19th, and applies to all customers regardless of portfolio size, trade frequency, or number of shares transacted.
While Schwab still trails some discount brokers (e.g., TradeKing @ $4.95/trade), they’re well ahead of others (e.g., E*Trade @ $12.99/trade). When combined with their very low mutual fund investment thresholds, this change makes Schwab a fairly attractive option for people who are just starting out.
Published on January 11th, 2010 - 3 Comments
Filed under: Saving & Investing
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About the author: Nickel is the founder and editor-in-chief of this site. He's a thirty-something family man who has been writing about personal finance since 2005, and guess what? He's on Twitter!
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3 Responses to “Charles Schwab to Reduces Brokerage Fees”
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January 11th, 2010 at 3:29 pm
I also saw recently where their Schwab ETFs do not have a commission fee for on-line trades. All of this is making me think about opening up an account.
January 11th, 2010 at 8:48 pm
Tyey are trying to stay in the game without matching the Lowest Fee companies, hoping their name is worth a few dollars more.
John DeFlumeri Jr
January 11th, 2010 at 9:35 pm
I’m very happy about all the latest changes going on with Schwab. I’ve been a customer of theirs for about 15 years.
The things they are going lately have me very pleased. It use to be that they had complex fee structures, but they have both reduced and simplified them.
It’s good to see them returning to their roots!