Etrade and Schwab Add Record Number of New Accounts
After announcing TradeKing’s 3rd Anniversory and their accomplishment of topping 100,000 total accounts earlier this week we became curious to find out how other competing brokers were doing. We discovered that Etrade and Schwab both put TradeKing to shame with record growth numbers of their own.
Schwab added an impressive 29,000 new accounts in October which was 88% more than the year prior. TradeKing in comparison only added 12,800.
The big surprise came from Etrade Financial which added an astounding 131,475 new accounts in October (full filing). Etrade (ETFC) currently trades for just over $1 a share as the stock was hammered with news that it was exposed to the subprime crisis. The bank arm has applied for TARP funds to try and accumulate extra capital. <— Visit Etrade’s Website.
