An article published today by CNN Business and written by Hanna Ziady indicates that Fidelity Investments has joined an all-out price war among its rivals as the latest major broker to do away with commissions on online stock trades. Fidelity, one of the world’s largest asset managers, announced on Thursday that it will no longer charge customers to trade US stocks, exchange-traded funds (“ETFs”) or options. This follows a growing list of brokers that have, in quick succession, slashed online trading fees, including Charles Schwab (NYSE: SCHW), TD Ameritrade (NASDAQ: AMTD) and E-Trade (NASDAQ: ETFC). The pace of change across the industry has unnerved investors, concerned about how it will affect profits, and presents a new challenge for brokers to differentiate in an increasingly crowded market where price is no longer a selling point. “In a world of equal footing, it’s all about what you are offering,” Steve Quirk, an executive at TD Ameritrade, said during a recent interview with CNN Business.
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About Fidelity Investments
Fidelity Investments is an American multinational financial services corporation based in Boston, Massachusetts. Fidelity offers financial planning and advice, retirement plans, wealth management services, and trading and brokerage services. For more information, visit the company’s website at www.Fidelity.com.
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