Today, almost every major discount broker offers a commission-free
trading program for exchange-traded funds. Brokerages are competing for
investor accounts, and they are leveraging ETFs' popularity to lure
investors. This competition among brokers has helped to reduce the cost
of investing in ETFs. This article will highlight the pros and cons of
the commission-free ETF trading programs offered by Fidelity, TD Ameritrade (AMTD), Charles Schwab (SCHW), E*Trade (ETFC), Vanguard, and Merrill Lynch.