Let's just say that the onslaught of companies offering commission-free stock trades hasn't slowed down the booming discount brokerage industry much. Ameritrade
As it stands, Ameritrade has 6.2 million client accounts that combine for a whopping $276 billion in assets. The company averaged 248,000 client trades a day last month. That's a figure that begs for more color. The active traders are naturally good news for a company that profits from each transaction, and that 248,000 figure compares nicely with 232,000 in October and 162,000 in November of last year.
As is usually the case, this trend also bodes well for rival discounters such as Charles Schwab
Maybe it's that nervous investors are waiting to see whether Zecco is the real deal. Maybe the tantalizing Bank of America offer is tempered by the perceived notion of lower yields on that $25,000 minimum -- or perhaps the Bank of America promotional push is working well, only that it's drawing folks out of more conventional full-service firms instead.
Then again, maybe it's that the entire retail brokerage sector is expanding. Whether it was the market racing to new highs or individual feats like Google
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Schwab is a Stock Advisor recommendation, and Bank of America is an Income Investor selection.
Longtime Fool contributor Rick Munarriz has been trading exclusively through discount brokers since 1990 but he does not own shares in any of the companies in this story. He is also part of the Rule Breakers newsletter research team, seeking out tomorrow's ultimate growth stocks a day early. The Fool has a disclosure policy.