E*TRADE Financial Announces Flat $9.99 Commissions and 9-Second Execution Guarantee for Active Traders
Simple, Low Commission Rate Now Available to a Broader Range of Customers
New Marketing Campaign Offers to 'Enhance Your Trading by the Power of 9'
MENLO PARK, Calif., Oct. 2 /CNW/ -- E(*)TRADE Securities
LLC today announced a lower, simplified commission rate and expanded services
in its Power E(*)TRADE program for active traders. Power E(*)TRADE will feature a
simple, flat commission of $9.99 per stock trade(*) as well as an
industry-leading 9-second trade-execution guarantee on qualified stock trades.
Furthermore, these benefits are available to any customer averaging 9 or more
trades per month (a minimum of 27 trades per quarter), significantly
broadening the range of eligible customers. These new changes will be
marketed under a branding program that encourages consumers to "Enhance your
trading by the power of 9." With this new, competitive pricing schedule and
execution guarantee, E(*)TRADE Securities reinforces its position as a leader of
online active trading services and advances its strategy to increase market
share, revenue and profitability.
"In this economy, we believe that a simple, low-cost commission schedule,
combined with superior execution quality, is essential," said Jarrett Lilien,
Chief Brokerage Officer and President, E(*)TRADE Securities. "Active traders
want to focus on the markets, not their brokerage statements. They appreciate
simplified, flat commission rates. And our nine-second trade guarantee
demonstrates our commitment to the fast execution of trades."
Previously, only active trader customers who made 75 or more trades per
quarter received the lowest commission rate of $9.99. Now all E(*)TRADE
Securities customers that average at least 9 stock trades per month during the
previous quarter (a minimum of 27 trades) will be enrolled automatically in
the Power E(*)TRADE program and will receive a flat commission of $9.99 on all
market and limit orders, beginning with their first stock trade. The new
pricing schedule is effective immediately. The 9-second execution guarantee
is expected to launch on October 31, at which time additional information will
be made available.
To encourage active traders to sign up for the enhanced Power E(*)TRADE
program, a special offer is now available. New customers who open a Power
E(*)TRADE account will receive the flat $9.99 commission through the remainder
of the year and a $99 bonus(*)(*) if they have achieved Power E(*)TRADE
qualification by the end of December.
"Building on our Power E(*)TRADE offering, we will continue to grow our
leadership position in the active trader space by delivering low-cost,
high-value services to our customers," continued Lilien. "We're confident
that when active traders evaluate our offering, they'll find it delivers a
superior combination of price, products and service."
Power E(*)TRADE was ranked as the number one site for active traders.(*)(*)(*)
Additional benefits of the program include priority customer service,
real-time charts and technical analysis tools, and Power E(*)TRADE Market Trader
command center software. |
