Online Traders Ramp It Up

Activity rises at both E*Trade and Ameritrade.
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Online investors were busier at two big firms in October than they were in the last month of the third quarter.

E*Trade

(ET) - Get Report

reported 114,052 retail daily average revenue trades last month and 31,947 professional trades, for a total of 145,999.

Retail daily average revenue trades rose 16.4% from September and increased 47.9% from a year ago.

Total trades climbed 12.1% from September and 18.6% compared with October 2004. E*Trade also reported total client assets of $137.7 billion, 29.4% above September and 56% ahead of last year.

Meanwhile,

Ameritrade

(AMTD) - Get Report

reported 153,000 average client trades a day in October, 4,000 more than the prior month and up 8,000 vs. last year.

As of Oct. 28, the company counted 1.7 million qualified accounts. The company opened 18,000 accounts and closed 11,000 last month. Client assets fell to $80.6 billion from $83.3 billion in September, but rose from $72.9 billion a year ago.

Ameritrade shares were rising 23 cents to $21.95 in premarket trading. E*Trade was unchanged at $19.41.