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Schwab to drop commissions on U.S. stock, ETF and options trades, slamming online broker stocks

“Beginning October 7, every Schwab client can trade U.S. stocks, ETFs and options commission-free” writes Ciara Linnane for Charles Schwab Corp. shares SCHW, -9.73% fell sharply in premarket trade Tuesday, after the company said it is planning to drop commission on U.s. stocks, ETFs and options effective Oct. 7.Schwab currently charges clients $4.95 per stock, ETF and option trade.The news sent shares of rivals sharply lower with TD Ameritrade Holding Corp.Eliminating commissions ensures my ultimate vision is realized — making investing accessible to all.”.

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