Right along with charles schwab [0]. Amazing what a little competition from Robinhood can do. [0]: https://www.cnbc.com/2019/10/01/charles-schwab-is-eliminatin...
Id venture robinhood is getting a little too much credit here. The order this happened in was Interactive Brokers, Schwab, TD Ameritrade, E trade. They were obviously all prepared to do it in the event one of them went for it. Interactive Brokers did this more to give themselves a competitive edge over Schwab, TDA, and E Trade. That lasted about a day.
I don't think so. None of these brokers would have gone down this path without the pressure that zero fee brokers have been bringing. It was easy to call that ETrade was cornered to follow after Schwab announced last week [0]. And like I mentioned in another comment: just because Schwab and ETrade have better tooling and many more features that doesn't always matter for some. I still use tools outside of ETrade and for certain trades will continue to run them through Robinhood. Now there's less incentive though, which is great for me as the consumer.