By Bryan Bottarelli I’m sure you’ve heard the news…
Major online brokers such as Charles Schwab, TD Ameritrade, E-Trade and Robinhood have experienced eye-popping growth in new account holders.
Across the board, these brokers are reporting as much as 170% growth in the first quarter of 2020.
Specifically…
Charles Schwab saw more than 280,000 new accounts opened in March.
E-Trade saw more than 363,000 new accounts in the quarter.
And Robinhood, who focuses on millennials, saw an eye-popping 3 million new accounts in the first quarter.
These are stunning numbers.
Charles Schwab CEO Walt Bettinger said it’s seeing “monumental volumes” of trading.
Its past quarter included 27 of the 30 highest-volume days …read more
