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I think that the "GTC @ $200" idea

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drobx   Monday, 10/07/19 02:40:54 PM
Re: AlanC post# 2946
Post # of 3131 
I think that the "GTC @ $200" idea is an urban legend. It implies that your brokerage might lend your shares out to a *legit* short seller without telling you or compensating you. This would be illegal, so if they are willing to break the law, why would your bogus sell order matter?

As for the move to $0 commissions, yes, they say that commissions are a small part of their income. So they are doing it to be competitive. It would indeed be interesting to know how they make the bulk of their money. Lending out stock is one place. Some others I can think of: fees on managed accounts, interest on margin accounts, the various funds they run (e.g. money markets, mutual funds, ...). The thing about all of those is that many customers don't participate in any of those things, so I wonder what else there is.

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