Bank of America joins brokerage wars with unlimited free trades for preferred members

Another financial giant is adding to the growing consensus that the correct price of a stock trade is zero.

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Bank of America said Monday that any customer of retail banking loyalty program for its Merrill Edge service will now get unlimited free trades for stocks, ETFs and options.

The lender probably isn’t giving up much in fee revenue with the move: It estimated that 87% of trades from its loyalty group members were already free.


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