Re: E*trade buys Brownco
"The Michael" <MikeL@xxxxxxxxxxx> wrote in message
news:Xns96E2E0F901351rdpleitduina@xxxxxxxxxxxxxxxxx
>
> Not in any of my accounts (except sometimes IRA). If they don't pay a
> competitive, rate my cash balances are moved elsewhere.
>
> Mike
They all pay competitive rates, especially when comparing one brokerage with
another. But on average, there is enough cash in the accounts (even if only
between trades) that they make most of their money on the difference in what
they pay in interest and what they earn on the cash you have in the account.
Even a small difference in interest rates paid on cash balances can offset
the difference between $5 and $10 trades for many investors (but not
everyone). There is also the issue of price of limit (and obviously market)
orders. I have noticed that some of the more expensive online trading firms
like Schwab, one often gets a better price than specified in a limit order.
.
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