Bank of America is jumping into the brokerage price wars by axing commissions for most online trading clients (BAC)
|10/21/2019||Posted by BusinessMediaguide.Com under General World News||
- Bank of America is getting in on the online brokerage price war that’s roiled the industry and introduced a new wave of competitive pressure in recent weeks.
- Merrill Edge, the firm’s online brokerage business, is scrapping commissions on unlimited stock, exchange-traded fund, and options trades to clients of all tiers of its preferred rewards program.
- But commissions aren’t going to zero for everyone. For customers outside of its preferred rewards program, the price of trading stocks and ETFs will drop to a flat rate of $2.95, down from $6.95, with no trade or balance minimums.
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