Nervous people tend to overreact. - Toba Beta
When Charles Schwab (SCHW) announced that it was going commission-free last month, it was the inevitable next step in a years-long trend in the “race to zero”. Robinhood has offered commission-free trading for years. Vanguard decided to offer no-fee trading on virtually all ETFs on its platform earlier this year. Fidelity debuted its first zero expense ratio mutual funds just recently. The day in which trading commissions were eliminated too was always coming eventually, yet it still managed to catch the street a little off-guard.