Merrill Edge made waves earlier this year when they decided to pay advisers on salary. They’re now in the headlines again, this time for eliminating commissions on online trading for Merrill Edge Self-Directed.
While the majority of trading (87% of transactions) on Merrill Edge Self-Directed (their DIY online investor platform) was already commission free, the latest move eliminates commissions on “stock, ETF, and options trades” according to InvestmentNews.
Schwab and other companies have made similar fee cuts. It seems commissions and other various fees are becoming increasingly obsolete on a global scale.
