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Pedestrians walk in front of an E * Trade Financial office in New York, USA
Online brokerage firms like Charles Schwab, TD Ameritrade and E-Trade have dropped after JP Morgan Chase will offer a new digital investment app with free Trade.
The new program is associated with free or discounted trades, a sophisticated portfolio building tool and free access to the bank's stock analysis.
Interactive Brokers has communicated to CNBC in 2005 an e-mail statement that the company "will continue to be the choice of sophisticated investors and institutions."
"Other banks and brokers who give away so-called free or cheap trades earn their money by paying next to nothing, executing trades at lower prices and charging exorbitant borrowing costs, which is for those who do their homework not expensive, "said Steve Sanders, executive vice president of marketing, Interactive Brokers.
The other brokers did not immediately ask for comments on JP Morgan's new app.
Rich Repetto of Sandler O & # 39; Neill & Partners noted that the fall in stock prices weighed on stock markets, although it could weigh on E-Broker earnings
"It's not good, but it's not the end of it They will all still be profitable, but today stocks will reduce headline risk, "said CNBC analyst." What you should also know is about a third of transactions at TD Ameritrade and E-Trade are derivatives, Options trades that would require a more complex platform. "