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mrfusion
on Oct 5, 2019
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E*Trade Announces $0 Base Commissions for Online S...
Anyone want to share the gist of that article?
maxerickson
on Oct 5, 2019
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Discount brokerages mostly make money on interest.
mrfusion
on Oct 6, 2019
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Interest on what though? Isn’t most money immediately invested or put in money market funds?
toast0
on Oct 6, 2019
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A lot of people leave some money in the sweep account, so it's liquid for future trades. Or leave it for a few days after a sale before transferring it out.
maxerickson
on Oct 6, 2019
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They offer their own money market funds that are below 'market' rate and collect the difference.
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