TradeStation introduces commission-free trading for exchange-listed stocks, options and ETFs
The new commission-free offering on the TradeStation web and mobile platforms is branded TSgo.
TradeStation Securities, Inc., a fully owned subsidiary of Monex Group, Inc. (TYO:8698), has joined the lineup of companies reducing commission for trading of certain assets to zero. The online trading company has announced it will be offering commission-free trading to customers who use its web and mobile platforms for exchange-listed stocks, options and exchange-traded funds (ETFs). Customers trading options will continue to pay $0.50 per contract without a commission charge.
The new commission-free offering on the TradeStation web and mobile platforms is branded TSgo. TradeStation customers will be able to enjoy the company’s flexible, on-the-go web and mobile app trading, superior customer service, and wealth of educational offerings they have grown accustomed to, without paying commissions.
John Bartleman, President of TradeStation Group, commented:
“By offering commission-free trading to our customers on our web and mobile platforms, we’re breaking down yet another wall to help traders access the markets.”
Earlier this week, major brokers, such as TD Ameritrade and Charles Schwab, said they were eliminating commissions for trading exchange-listed stocks, options and ETFs.
Steve Boyle, chief financial officer of TD Ameritrade, explained the company expects this change to have a revenue impact of approximately $220-240 million per quarter, or approximately 15-16% of net revenues, based on June Quarter fiscal 2019 revenue.