Schwab just cut online trading commissions. Here’s what that means for investors: by skleb1234
“Generally, lower fees are good for investors,” Alex Bryan, director of passive strategies for North America at Morningstar, says of the Schwab announcement. “From an individual investor’s perspective, it’s not going to move the needle all that much—but it could clearly be a precursor to a larger shift in the business model for many of these low-cost brokerage firms.”, Vanguard said the firm is “happy to see others in the industry continue to follow our lead in reducing the cost of investing.
. “Eliminating commissions ensures my ultimate vision is realized—making investing accessible to all.”Schwab’s announcement caused online brokerage stocks to tank, with some plunging to their lowest levels in years. Schwab’s own stock fell 9% on Tuesday morning. Rival TD Ameritrade fell more than 23%, its worst single-day drop since 2006. Online broker E-Trade also cratered, plunging over 16%.
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