What About the Other Deep Discount Brokers?
Thursday, May 6th, 2010On Tuesday Vanguard became the third deep-discount online broker to offer its account holders select commission-freeETF trader, in this case on its own U.S.-based ETFs, of which there are currently 45.
As a holder of two Vanguard ETFs (VWO, BND) which I hold for myself and my two kids (in separate custodial accounts) in a TD Ameritrade (AMTD) brokerage account, I decided to let AMTD know that I was considering switching my business over to Vanguard unless they had plans to launch similar commission-free ETF trading for their brokerage clients. After all, Fidelity is allowing its brokerage customers to trade iShares ETFs commission-free now so why shouldn’t AMTD be able to work out a similar deal with a major ETF issuer with a diverse line of basic index funds like iShares or State Street?
