SAN FRANCISCO, Dec. 06, 2019 (GLOBE NEWSWIRE) -- With the recent move to zero-commission trading, the online brokerage world is being intensely disrupted.
Charles Schwab, the brokerage behemoth who triggered this wave, has already seen a big jump in new accounts. October alone, the month after cutting fees to zero, saw 142,000 accounts added, a 31% increase over September, reaching a total 12.2 million accounts with a record $3.85 trillion in assets.
Many of its competitors have also enjoyed a boost in business.
Even Square, the famous mobile payment firm, is getting into the fray. Its CashApp will allow users to buy and sell stocks for free, and even make fractional share purchases through fixed dollar amounts to get younger investors involved in the markets.
But the clear winner in all of this is the investor, who can now trade at lower costs than ever. Increasingly, investors are feeling compelled to take more control.
The thing is, online brokers are not all the same. Some are better suited for beginners, some for trading options or ETFs, and others are best for buying or trading international securities or small cap stocks.
Each offers a mix of deposit minimums, research data and tools, trading platforms, user interfaces and mobile capabilities.
Whether you're just starting out opening your first retirement account, or you’re already a seasoned day trader, there's a right online broker out there for you. It’s just a matter of figuring out what kind of investor you are and what needs you have.
Continue reading this article: Zero-Commission Trading: Risks and Opportunities
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