E*TRADE Financial Corp. will eliminate retail commissions for online U.S.-listed stock, exchange-traded funds and options trades, the latest online brokerage to do so.
It will also reduce the options contract charge to 65 cents per contract for all traders while maintaining its active trader pricing at 50 cents per contract. The changes are expected to take place Oct. 7.
TD Ameritrade Holding Corp. and Charles Schwab Corp. have also rolled out similar plans.
E*TRADE estimates that the revenue impact of the commission changes on second-quarter operating results would have been approximately $75 million.
