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free trade at bank of america. Please advice
Old 01-28-2008, 09:46 AM   #1
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free trade at bank of america. Please advice

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?


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Old 01-28-2008, 10:01 AM   #2
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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.
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Old 01-28-2008, 10:08 AM   #3
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I believe they offer these hoping to get everything "in house" so that they can make money off of you in other know, a loss leader...Loss leader - Wikipedia, the free encyclopedia

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