Charles Schwab says broker’s move to zero commissions was an ultimate goal for the firm


Charles Schwab, chairman of Charles Schwab Corp., speaks in Chicago, Illinois, on Wednesday, Nov. 20, 2013.

Daniel Acker | Bloomberg | Getty Images

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Charles Schwab said the broker’s latest move to zero commissions was a long-time goal to deliver to investors. 

“It was sort of the final solution for investors,” chairman and founder of Charles Schwab told CNBC’s Bob Pisani on the “Halftime Report” on Monday. “We have a great deal for investors. You can buy and sell stocks for no commission.”

“We joined the New York Exchange in 1981 many years ago and so prices then, when we first came on board, we were about half price. We kept coming down every year to now,” Schwab added. 

As of Monday, brokerage firm Charles Schwab is no longer charging commission fees for U.S. stocks, ETFs and options trades. Brokerage rivals E-Trade, Interactive Brokers and TD Ameritrade all dropped their commission fees in the last two weeks in the latest move in the brokerage fee wars.

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