E*Trade reducing commissions to $6.95.

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E*Trade joins the price war.

(Edit) Effective March 13.

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YAY

I'm really very novice with the market, but I've been using Robinhood, which charges nothing for trading fees and makes its money solely on float interest. Is there some danger I am exposing myself to by doing this? As I understand it if Robinhood goes under there's a federal agency that underwrites and makes you whole with equivalent stock value similar to the FDIC, am I totally wrong in my interpretation of this? Thanks.

jman220 said:   I'm really very novice with the market, but I've been using Robinhood, which charges nothing for trading fees and makes its money solely on float interest. Is there some danger I am exposing myself to by doing this? As I understand it if Robinhood goes under there's a federal agency that underwrites and makes you whole with equivalent stock value similar to the FDIC, am I totally wrong in my interpretation of this? Thanks.
  
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