Schwab Slices Its Prices

It heats up the online wars with a big rate cut

Charles Schwab & Co. is by far the largest online broker, but it's far from the cheapest. The $29.95 commission it charges is a turnoff to active traders, who make up less than 1% of Schwab's 3.3 million online customers. On Feb. 2, San Francisco-based Schwab announced it is cutting charges as much as 50%.

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