TD Ameritrade is offering commission-free trading on nearly 570 ETFs.
The number marks a ramp-up from the 300 ETFs that the online brokerage company was recently offering commission-free. TD’s latest offering spans 21 providers/fund managers covering around 90 Morningstar categories.
An ETF (or exchange-traded fund) is an investment fund (a basket of securities) that tracks a particular index. ETFs are often regarded as relatively passive and lower-cost compared to several funds that involve picking individual securities.
The move, according to TD, gives more than 7,000 registered investment advisors (RIAs) and TD Ameritrade’s 11 million individual investor client accounts access to “one of the largest and most diverse selections of non-proprietary, commission-free ETFs in the industry.”
Last year, Vanguard Group announced commission-free online trading in almost 1,800 of its competitors' ETFs in addition to 77 of its own