Where's The Baby: E*Trade Finally Gets Into Commission-Free ETF Game

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Almost conspicuous by its absence, online brokerage firm E*Trade
ETFC
is finally joining several of its main rivals in offering commission-free trading on select ETFs to its clients. The firm will offer ETFs from Deutsche Bank
DB
, WisdomTree
WETF
and Global X on a commission-free basis. Global X ETFs are currently offered commission-free by Interactive Brokers as well. All told, E*Trade will offer 90 ETFs from the three firms commission-free. That includes the bulk of the Global X and WisdomTree lineups. To see all the offerings
go here
. Among the WisdomTree offerings featured by E*Trade commission-free will be the WisdomTree Asia Local Debt ETF
ALD
, WisdomTree International LargeCap Dividend ETF
DOL
and the WisdomTree India Earnings ETF
EPI
. Well known Global X funds available on E*Trade commission-free include the Global X Uranium ETF
URA
, the Global X Silver Miners ETF
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SIL
, the Global X FTSE Andean 40 ETF
AND
and the Global X Norway ETF
NORW
. Ten Deutsche Bank ETFs will be available on E*Trade commission-free including five target date funds and five hedged equity international funds. Sell short, buy to cover, and buy-write orders are not commission free. Options on ETFs and options-exercise-related transactions are also not eligible. For margin customers, the ETFs purchased through the commission-free ETF program are not margin eligible for 30 days from purchase date. To discourage short-term trading, E*TRADE Securities will charge a short-term trading fee on sales of participating ETFs held less than 30 days, E*Trade said on its Web site. The company joins rivals Fidelity and TDAmeritrade
AMTD
in offering ETFs from multiple issuers on a commission-free basis. Charles Schwab
SCHW
and Vanguad offer their clients no commission ETF trades on their own ETFs.
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Posted In: NewsSector ETFsBroad U.S. Equity ETFsSpecialty ETFsNew ETFsEmerging Market ETFsCurrency ETFsIntraday UpdateMarketsTechPersonal FinanceTrading IdeasETFsGlobal X Funds
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