You come and go

2 October 2019 By Antony Currie Follow @AntonyMCurrie

The industry has lost some $19 bln in value after Charles Schwab set trading fees to zero. The onetime disruptor now faces its own threats, but is better placed than E*Trade or TD Ameritrade. The price war is a kind of karma for the financial giants the online upstarts targeted.

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Charles Schwab on Oct. 1 said it will remove all commission fees for customers buying and selling stocks, exchange-traded funds and options listed on U.S. and Canadian exchanges as of Oct. 7. The company was previously charging a $4.95 commission for each trade. Customers trading options will still pay 65 cents per contract.

Rival TD Ameritrade followed suit later on the same day and E*Trade Financial did so a day later, while Interactive Brokers made a similar move for certain types of customers on Sept. 26.

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