E-Trade to handle foreign stocks
E-Trade Financial Corp. unveiled a global trading platform that makes it the first U.S. discount brokerage to give customers the ability to trade foreign-listed stocks online.
The pilot project, which begins with 1,000 E-Trade customers this week, allows them to buy, hold and sell stocks in Canada, France, Germany, Hong Kong, Japan and Britain.
The rollout is expected to take two months before all customers have access, and could one day expand to 42 international markets.
The launch unlocks thousands of stocks previously unavailable to online traders and pressures top rivals Charles Schwab Corp. and TD Ameritrade Holding Corp. to make similar moves.
E-Trade will give customers the ability to move U.S. dollar accounts into foreign currencies. The brokerage will charge a $20 commission fee.
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