E-Trade Customer Appreciation Day and ……

So now E-Trade Financial seems out of the immediate danger of going out of business, they want to show their appreciation to those customers who chose to stay with them after the firm revealed big losses from subprime mortgage loans and saw their stock sink more than 50% in one day. An email from E-Trade this evening says next Wednesday, December 19th will be a commission-free customer appreciation day, when customers can trade unlimited stocks, options, futures, even global stocks for free (use the above links for details of the offer).

Well, I think I use some appreciation. Though I don’t use E-Trade for US stocks, I do have an account with them for global trading and I still want to buy that Alibaba stock. I guess I can use that HK$300 saved on commission for something else :)

Then immediately after receiving that email from E-Trade, an message from Zecco arrived with the subject read E*trade Unclear on the Concept of “Customer Appreciation”:

Check it out: E*trade is offering customers free trades for one day only next Wednesday as part of a “Customer Appreciation Day”. Details here. At Zecco, everyday is “Customer Appreciation Day”. Zecco has always offered free trades every day of the year. I encourage you to share this news with your readers, while letting them know that Zecco really does appreciate our customers, and we put our money where our mouth is every single day.

That’s probably true for Zecco in terms commissions and I love to see the competition, but unfortunately, I don’t anything I want to buy with Zecco at this moment.

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2 Responses to “E-Trade Customer Appreciation Day and ……”

  1. MoneyNing |  Dec 13, 2007 at 11:47 pm

    Heh. A little childish on Zecco’s part to bash the competition :)

  2. Grant |  Dec 15, 2007 at 2:32 pm

    I’m not sure that offering one day of free trades will help their cause (for their business to stay solvent, that is).

    I have an E*Trade account through my ESPP plan through work, and use Ameritrade for my Roth IRA and to actively trade. I guess if TDAmeritrade did the same thing E*Trade is doing and offered a “no commission” appreciation day, I’m not sure I’d benefit a whole lot. With my trades, the commission is such a low percentage of the overall transaction that I really don’t even pay attention to them.