E*TRADE Announces Base Rate and Active Trader Commission Reductions
March 02 2017 - 8:05AM
Business Wire
E*TRADE to 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 (30+ trades
per quarter)
E*TRADE Financial Corporation (NASDAQ:ETFC) announced today a
significant reduction to its trade commissions to $6.95, down from
$9.99. Further, the Company is introducing an active trading
program and pricing tier for its most engaged customers who execute
30+ trades per quarter (down from a previous active trading tier of
150+ trades per quarter). In this new customer tier commissions for
trades will be $4.95, and options charges will be $0.50 per options
contract, down from $0.75. The new program is designed specifically
with E*TRADE’s active equity and derivative traders in mind. The
new commissions are scheduled to become effective March 13,
2017.
“We have built a best-in-class offering that includes powerful
digital tools, online advice and professional financial consultants
to serve the needs of traders and investors,” said Karl Roessner,
Chief Executive Officer. “While we know that an exceptional
customer experience is far more important to traders and investors
than price, with our new commission structure we are able to reward
our most active equity and derivative traders and investors, while
at the same time providing exceptional value to all who call
E*TRADE home.”
E*TRADE aims to enhance the financial independence of traders
and investors through a powerful digital offering and professional
guidance. To learn more about E*TRADE’s trading and investing
platforms and tools, visit etrade.com.
For useful trading and investing insight from E*TRADE, follow
the company on Twitter, @ETRADE.
In StockBrokers.com’s 2017 Online Broker Review of 16 firms
across more than 300 variables, E*TRADE earned five Best in Class
awards for Overall, Offering of Investments, Research, Education,
and Mobile Trading. E*TRADE's star ratings for all category
rankings out of 5: Overall (4 stars), Commissions & Fees (2.5
stars), Offering of Investments (4 stars), Platforms and Tools (4
stars), Research (4.5 stars), Customer Service (4 stars), Mobile
Trading (4.5 stars), Ease of Use (4.5 stars), Education (4.5
stars), Order Execution (2.5 stars), New Investors (4 stars),
Options Trading (4 stars), Active Trading (4 stars), and Banking
(3.5 stars). Read the 2017 Online Broker Review.
About E*TRADE Financial
E*TRADE Financial and its subsidiaries provide financial
services, including online brokerage and banking products and
services to retail customers. Securities products and services,
including stocks, bonds, options, ETFs, and mutual funds, are
offered by E*TRADE Securities LLC (Member FINRA/SIPC). Managed
Account Solutions are offered through E*TRADE Capital Management,
LLC, a Registered Investment Adviser. Bank products and services
are offered by E*TRADE Bank, a Federal savings bank, Member FDIC,
or its subsidiaries and affiliates. More information is available
at www.etrade.com.
Important Notices
E*TRADE, E*TRADE Financial, E*TRADE Bank, the Converging Arrows
logo and OptionsHouse are registered trademarks of E*TRADE
Financial Corporation or its subsidiaries in the United States and
in other countries. ETFC-G
© 2017 E*TRADE Financial Corporation. All rights reserved.
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