Earnings

E-Trade experiences record trading in the second quarter as the retail trading boom continues

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Pedestrians walk outside an E*Trade Financial office in New York, U.S.

Daniel Acker | Bloomberg | Getty Images

E-Trade’s trading activity and new accounts surged in the second quarter amid a boom in retail investing that started during the coronavirus market turmoil. 

The broker — slated to be acquired by Morgan Stanley in the second half of 2020 — reported Thursday a record 1.01 million daily active revenue trades in the second quarter, a 267% increase from its daily trades last year. This is up from 657,000 daily trades in the first quarter. 

The major online brokers — Charles Schwab, TD Ameritrade, E-Trade and Robinhood — have seen new accounts and trading activity surge…



Source cnbc.com

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