“So that’s a great thing!” I think there is a little nuance, honestly. Cutting commissions encourages trading but trading is, for the overwhelming majority of their customers, bad. Commissions are also visible and legible; the actual way they make their money is far less so.
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“Yeah they are selling customers out to Wall Street.” *sigh* No, they are encouraging customers to keep (too much) cash deposited with them and then buying lots of mortgage-backed securities. This drives product decisions, like cash allocation on their roboadvisor.
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Do you see a factor in IBKR starting a "lite" offering in this decision?
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Not really? This has been coming for years, and IKBR targets a materially different market segment historically.
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Where did you see this? Front page still says $4.95pic.twitter.com/mSB7sCqOxH
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Ignore me - “starting October 7,” says every source on https://duckduckgo.com/?q=schwab&iar=news&ia=news …
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As soon as I saw the news about it, first thing I thought of was your comments about someone dropping rates to $0 soon.
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Definitely sped things up! Free trading now just a feature on all-in personal finance suite with your bank, broker, robinhood-types.
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Ally Invest just dropped theirs to $0! Your prophesies are looking pretty good.pic.twitter.com/GQdbWtdSvo
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