Bank of America said Monday that it has expanded unlimited commission-free online stock, ETF and option trading to all Merrill Edge Self-Directed investors.
“We first introduced zero-dollar trading in 2006, expanded it to unlimited free online trading for all Preferred Rewards members this fall, and are now making it available to all of our self-directed clients,” said Aron Levine, head of Consumer Banking and Investments at Bank of America, in a statement. “With free trades now an industry standard, attracting clients and building lifelong relationships will depend even more on the value investment firms bring to the table. Our award-winning service, innovative solutions, and unmatched benefits support clients throughout their entire financial journey and during every stage of their lives.”
The race to zero fees started in October with Charles Schwab announcing it was cutting all fees on trades. That led to fellow discount brokers to follow suit, and ultimately resulted in Schwab purchashing TD Ameritrade last month.