ETFC Announces Price Trimming
Analysts at BMO Capital Markets maintain their "market perform" rating on E*Trade Financial (NASDAQ: ETFC).
E*trade Financial has announced that it is eliminating its $12.99 commission rate, leaving all customers to pay at most, $9.99. Customers who make more than 150 trades/quarter will still pay $7.99. The new pricing schedule is effective as of today.
“The pricing change announced Friday is NOT a surprise and is unlikely to upset the competitive environment among the major discount brokers,” the analysts say. ETFC has made the decision to protect its brokerage franchise and to ensure competitive pricing.
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