Charles Schwab is cutting all online trades to $8.95 starting on January 19 regardless of trading frequency,,account balance, or the number of shares traded. Formerly, investors who held less than $1 million in household assets at Schwab or who traded fewer than 120 times per year paid $12.95 per trade plus charges for trades larger than 1,000 shares.
The new simplified pricing is also available to Schwab Advisor Services independent investment advisor end-clients who use Schwab’s E-Delivery services to receive electronic statements and trade confirmations, and to all clients who trade equities in a Personal Choice Retirement Account (PCRA), Company Retirement Account (CRA), or Plan Administrator Services account held at Charles Schwab & Co., Inc, or through an account with Designated Brokerage Services.
As the BestCashCow online brokerage table shows, the changes will make Schwab more competitive with some of its competitors. The rates changes to not seem to impact options trading, which will still be priced.
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