[vasilipupkin]

I don't think the entry into Australia is a negative, the way you describe it. Australian fees are much higher than in the US, so it's a great value proposition there. So why not offer the service there as well ?

I agree that people shouldn't trade a lot. This is besides the point. People shouldn't eat a lot of burgers, either. Given that people do trade a lot, though, it adds a lot of value to reduce the cost of that trading. Some people trade a lot for fun, knowing that they shouldn't, if they wanted to maximize return.

As far as Fidelity or Vanguard or others offering commission-free products, how is it bad to have MORE of such products out there ? It's just competition. The devil of the value add is in the exact terms and details.

I don't see your negativity as warranted