Bank of America Offers Free Online Trades Too

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Maybe new broker Zecco (my review) was right and stock trades really are a commodity now. Today, Bank of America announced that they will be offering 30 free online trades a month for customers with at least $25,000 in combined deposits. Not surprisingly, shares of discount brokerages like E-Trade (ET) and Ameritrade (AMTD) are not doing so hot, both down ~10% today.

It’s only available in the Northeast at first, nationwide later. Thanks to Corey and everyone else for the tip.

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Comments

  1. I was just in NYC yesterday and Bank of America has a huge banner hanging across the NYSE about this new feature. hHey also had their grassroots marketing team out in full force.

  2. starhusker says:

    I think BofA charges a monthly or quarterly fee for those accounts.

  3. starhusker Wrong. They dont charge any fee for a brokerage account at BOA as long as you have any checking account with BOA. If you had a checking account with BOA even before this promo you got discounted trades for $9 each even with a basic free checking account with no balance requirement what so ever. If you had one of thier better checking accounts you either paid $5 or $7 per trade prior to this offer.

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