Schwab, the largest discount brokerage by market capitalization, also said February trading fell 14% in its first full month with lowered fees for small investors.(…)
Lower trading volumes at Schwab follows a report of slightly higher retail activity at online brokerTradeStation Group Inc., which posted a 1.4% month-to-month increase in early March.
However, TradeStation has a more active customer base and analysts expect declines in daily average revenue trades from both TD Ameritrade Holding Corp. and E*Trade Financial Corp., which issue monthly activity reports next week.
Trading commissions coming down:
Schwab’s move to reduce trading commissions was part of an effort to boost assets, prompting several other brokerages to cut their fees as well. TD Ameritrade remains the only one of major online brokerages yet to cut commissions.(…)
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