free trade at bank of america. Please advice

[Enuff2Eat]

Online Trading: $0 Online Equity Trades from Banc of America Investment Services, Inc.


could someone please advice me these offer by boa? is it too good to be true? how does scotttrade, schwab, vanguard and other brokers compete? am i missing anything?

thanks

enuff

 

[LOL!]

BoA is a terrible bank and in the recent past the free trades required you to have $25,000 in a low or no interest "deposit" accounts, so you pay elsewhere in other ways.

In contrast, WellsFargo does have free trades including on mutual funds and including Vanguard mutual funds.

 

[maddythebeagle]

I believe they offer these hoping to get everything "in house" so that they can make money off of you in other ways...you know, a loss leader...Loss leader - Wikipedia, the free encyclopedia

I had read that few have taken Bofa up on this offer....like LOL said, requires a chuck in low yielding deposit accounts...