Following a growing trend among online brokerages, Ameritrade announced it will charge customers who make fewer than four trades a year or keep less than $2,000 in their accounts a $15 "maintenance fee" each quarter or $60 a year, the company said Tuesday. Omaha, Neb.-based Ameritrade, which announced on Monday that it would lay off 170 workers from its call centers, is in a campaign to cut costs. The moves are prompted by a general slowdown in trading, Ameritrade said. Online brokerages such as E*Trade have already begun charging similar fees.
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Ameritrade imposes fees
Following a growing trend among online brokerages, Ameritrade announced it will charge customers who make fewer than four trades a year or keep less than $2,000 in their accounts a $15 "maintenance fee" each quarter or $60 a year, the company said Tuesday. Omaha, Neb.-based Ameritrade, which announced on Monday that it would lay off 170 workers from its call centers, is in a campaign to cut costs. The moves are prompted by a general slowdown in trading, Ameritrade said. Online brokerages such as E*Trade have already begun charging similar fees.
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