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I don't think so. None of these brokers would have gone down this path without the pressure that zero fee brokers have been bringing. It was easy to call that ETrade was cornered to follow after Schwab announced last week [0]. And like I mentioned in another comment: just because Schwab and ETrade have better tooling and many more features that doesn't always matter for some. I still use tools outside of ETrade and for certain trades will continue to run them through Robinhood. Now there's less incentive though, which is great for me as the consumer.

[0] https://news.ycombinator.com/item?id=21142786



It was a race to the bottom, it may have taken longer, but they all would have been shaving a dollar off at a time till somebody hit zero.




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