TD Ameritrade follows suit with Charles Schwab, cutting commission to 0 starting October 3rd

After the recent Charles Schwab announcement, TD Ameritrade released this announcement shortly after:

https://www.amtd.com/news-and-stories/press-releases/press-release-details/2019/The-Best-Just-Got-Better-TD-Ameritrade-Introduces-0-Commissions-for-Online-Stock-ETF-and-Option-Trades/default.aspx

There will still be a $0.65 fee per contract on options however. Quite interesting that this came out of the blue. It could be a push to drive Robinhood out of the market, as Online Brokerages aren't as dependent on Commission as their main source of revenue anymore. However, I believe that this will have positive long-term effects on all online brokerages. What are your thoughts on this news?

Submitted October 01, 2019 at 08:42PM by Bkxpw https://ift.tt/2p3gmxY