Fidelity Slashes Commissions in the Latest Salvo in the Fee Wars

(Bloomberg) Fidelity Investments is lowering online commissions for trading in U.S. stock and exchange-traded funds by nearly 40 percent, to $4.95 from $7.95 a trade for individual investors. The nation’s largest online retail brokerage firm, with 17.9 million accounts and $1.7 trillion in client assets as of Dec. 31, is also cutting options pricing to 65 cents from 75 cents a contract and lowering margin rates for investors.

The new commission pricing is 50 percent lower than standard commission trades at E*Trade Securities LLC and Ameritrade Holding Corp. and 28 percent lower than at Charles Schwab Corp., said Ram Subramaniam, president of Fidelity’s retail brokerage business.

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