TDAmeritrade reducing commissions from $9.95 to $6.95.

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Long overdue!!! On 3-6-17.

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Is TD Ameritrade's trading platform superior to Fidelity or Schwab's? Is that how they can get away with not matching them at $4.95?

DrForce said:   Is TD Ameritrade's trading platform superior to Fidelity or Schwab's? Is that how they can get away with not matching them at $4.95?

Patience. We'll need to see how low things can go. Schwab only announced $4.95 trades yesterday.

DrForce said:   Is TD Ameritrade's trading platform superior to Fidelity or Schwab's? Is that how they can get away with not matching them at $4.95?
  TDA was charging $9.99 prior to this when others were probably charging $7 or $8. I believe they are maintaining the differential. TDA has a good platform but I dont do much trading to know the ins and outs. TDA also has a large number of no-commission ETFs.

Three to six days late and two dollars short!

A day late and a dolla short.

Interesting, though I wonder if it has anything to do with a combination of other discount brokers recently lower their prices or with the acquisition of Scottrade (and their $7 trades).

Thinkorswim is an amazingly powerful trading platform. It is competitive with platforms that are or used to be really expensive. Only semi-pro or professional traders will use the advanced features. The options modeling features are some of the best available.

Quoted from ... http://www.amtd.com/newsroom/press-releases/press-release-details/2017/TD-Ameritrade-Reduces-Client-Pricing-to-695-for-Online-Equity-Trades/default.aspx 

"“There is an effort underway in our industry to redefine value. While some are leading with price, our clients tell us it’s much more than that,” said Tim Hockey, president and chief executive officer of TD Ameritrade. “They have told us time and again that value is delivered via rich experiences that prioritize flexibility and client choice, coupled with a simple, straightforward price. We have an award-winning client offering, plus tremendous scale. With our pending acquisition of Scottrade on the horizon, we have a unique opportunity to enhance that experience even further with lower pricing for all of our clients.”"

You have to somehow read in there how they are better than the competition.

NICE !
ETrade is following suit !
i'm with ETrade
"E*TRADE will lower trade commission rate to $6.95 from $9.99 for all customers along with a new tier of $4.95 per trade and $0.50 per options contract for active traders effective March 13 (36.20 )" -Briefing.com

this is like a snowball effect! I hope it keeps going

In any case, thinkorswim platform is the best so far that i could find and good customer support- vs activepro (fido), merrill edge. I havent tried others and the pricing from tdameritrade is good too (FIDO does price improvments).

best platform so far for me is TDAmeri. They have platform working on linux too.

Fidelity has a great customer support! $4.95 makes it even better

There's definitely a downward trend in commissions over the last 30 years.

I do think the commission number is somewhat irrelevant these days though. You rapidly reach a transaction size where the execution quality trumps the explicit commission. Probably not a factor if your orders are small or only in liquid names.

valuephile said:   Thinkorswim is an amazingly powerful trading platform. It is competitive with platforms that are or used to be really expensive. Only semi-pro or professional traders will use the advanced features. The options modeling features are some of the best available.
Agreed. The features of Thinkorswim are just amazing for the price of free. Not a professional trader hence barely use a fraction of the features.

I have accounts at both TDAmeritrade (retirement) and interactive brokers (taxable). Interactive brokers consistently has lower commissions.



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