Bank of America Corp BAC expanded its free trading offering Monday with the elimination of commissions on stock, ETF and options trades.
This development follows Robinhood’s pioneering of the large-scale, commission-free retail trading model that many established brokerages have adopted.
“We first introduced zero-dollar trading in 2006, expanded it to unlimited free online trading for all Preferred Rewards members this fall and are now making it available to all of our self-directed clients,” Aron Levine, Bank of America's head of consumer banking and investments, said in a statement.
“With free trades now an industry standard, attracting clients and building lifelong relationships will depend even more on the value investment firms bring to the table.”
Photo courtesy of Bank of America.
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