👀 Ones to watch: The MOST undervalued stocks to buy right nowSee Undervalued Stocks

Bank Of America expands zero-commission stock trading

Published 2019-10-21, 09:03 a/m
Bank Of America expands zero-commission stock trading
BAC
-
SCHW
-

(Reuters) - Bank Of America said on Monday it would expand its zero-dollar online trading to all customers of its Preferred Rewards program and cut commissions for others, following similar moves by several online brokers.

Discount brokerage Charles Schwab (NYSE:SCHW) Corp, Fidelity Investments and TD Ameritrade had eliminated commissions on online trading earlier this month to lure clients amid increased competition from several fintech startups that offer quick and cheaper services.

"We began offering zero-dollar trading 13 years ago as one of the many ways we reward clients for doing business with us," Aron Levine, head of Consumer Banking and Investments at Bank of America (NYSE:BAC), said in a statement.

The Charlotte, North Carolina-based bank offers zero-dollar online trading through its Merrill Edge Self-Directed program.

Bank of America reported better-than-expected third-quarter numbers last week, easing concerns that lower interest rates would crimp growth.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.