Charles Schwab to Eliminate Fees

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The company’s shares fell 10% in early trading, dragging down those of its rivals. TD Ameritrade (AMTD.O) shares slumped 22%, while E*Trade (ETFC.O) slid 19%.

Schwab will reduce the commission to zero from $4.95 per trade, starting Oct. 7, the company said.

https://www.reuters.com/article/us-charles-schwab-commissions/brokerage-charles-schwab-to-end-commissions-for-three-major-products-idUSKBN1WG41J

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