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October 3, 2019

TD Ameritrade drops commissions

OMAHA, Neb. (AP) — TD Ameritrade is also eliminating commissions for online trading of U.S. stocks and exchange-traded funds in the latest round of an industry battle over fees.

Investors will benefit from lower costs after the moves announced Tuesday by TD Ameritrade and Charles Schwab. But TD Ameritrade estimates it will lose about 15% of its revenue — roughly $220 million to $240 million — per quarter in the process.

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