Shares of TD Ameritrade continued their slide on Tuesday as the brokerage 'race to zero' quickens.
for online trading this week. Analysts expect most of the industry to follow suit shortly.
Starting on October 3, TD Ameritrade's commissions will go from the previous $6.95 to zero. Options will still have a 65 cent per contract fee. The changes will apply to securities on Canadian exchanges as well. But the tables have turned on Robinhood, which will now be competing against monster brokerage firms with the same fee structure that put them on the map.
The firm double-downgraded TD Ameritrade to underperform from buy on Tuesday based on "relatively high commission exposure, continued pricing pressure in the sector and earnings risk, a lower interest rate backdrop, margin pressure, and a CEO transition into 2020," Bank of America's Michael Carrier said in a note to clients.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Stocks making the biggest moves midday: McDonald's, Charles Schwab, TD Ameritrade & moreThese are the stocks posting the largest moves midday.
Baca lebih lajut »
Stocks making the biggest moves premarket: Lennar, TD Ameritrade, Stitch Fix, Twitter & moreThese are the stocks posting the largest moves before the bell.
Baca lebih lajut »
Schwab to drop commissions on U.S. stock, ETF and options trades, slamming online broker stocksCharles Schwab Corp. shares fell sharply in premarket trade Tuesday, after the company said it is planning to drop commission on U.s. stocks, ETFs and...
Baca lebih lajut »
Stocks making the biggest moves midday: McDonald's, Charles Schwab, TD Ameritrade & moreThese are the stocks posting the largest moves midday.
Baca lebih lajut »
Charles Schwab is ending commissions on stock trading and the brokerage shares are tankingShares of Schwab fell more than 10% in response to the move. Competitor TD Ameritrade lost 26%, on track for its worst day since 1999.
Baca lebih lajut »
Charles Schwab to end commissions for stock trading, shares fallDiscount brokerage company Charles Schwab Corp said on Tuesday it is eliminating...
Baca lebih lajut »