Banking, finance, and taxes
Online Brokerage Review: Day Traders Haven't Avoided Market Malaise (ETFC, AMTD, SCHW)
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We now have all three of the large online brokerage giants out with their monthly metrics for Janury. We wanted to compare E*TRADE FINANCIAL Corporation (NASDAQ: ETFC), TD AMERITRADE Holding Corporation (NASDAQ: AMTD), and The Charles Schwab Corporation (NASDAQ: SCHW). We did a basic apples-to-apples comparison where available, and we also included the Daily Average Revenue Trades, or DARTs, along with assets and numbers of accounts.
E*TRADE FINANCIAL Corporation (NASDAQ: ETFC):
TD AMERITRADE Holding Corporation (NASDAQ: AMTD):
The Charles Schwab Corporation (NASDAQ: SCHW):
While there was a mixed bag sequentially in DARTs, there is a very obvious marked trend from last year. The DARTs are declining. It is impossible to call all of those day traders, but a large portion of this decline from last year is from day traders according to our contacts. We have spoken with several day trading firms in the last few weeks and they are noticing a drop off either in volume or in numbers of traders. In fact, many traders who have been in the business for years have been hanging their hats up or walking away for the time being.
JON C. OGG
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