Fidelity.com Cuts Trading Commissions To $7.95

That picture says it all. Starting February 3rd, Fidelity.com has slashed their trading rates down to $7.95 for stock and options trades. Prior to this you fell either into the Silver, Bronze or Gold groups based on trading history and dollars on deposit with them, and even in that case the best tier received trades for $9.95.

This is huge when you compare them to other full service brokers. And even better when you line them up against discount brokers. I imagine that this will help Fidelity pull in a large amount of new clients. I have a Fidelity account but didn’t use them much for trading since I was in the $14.95 / trade tier. And with my measly little investments, a $28 charge to buy and sell one commodity was really cutting into my bottom line. Their new pricing cuts that in half.

Sure you can still pay less at some other discount brokers such as Optionshouse.com where it is only $2.95 / trade, but when you look at all the features Fidelity has, it is going to be a tough matchup. Look for new brokerage account bonuses to pop up all over the place to keep Fidelity from stealing their potential customers.

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