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Fidelity cuts trade commissions to $7.95

Associated Press

Posted on February 2, 2010 at 8:01 AM

BOSTON (AP) — Fidelity Investments is cutting its online stock trading commission to a flat fee of $7.95 for all customers, regardless of how many trades they make.

Tuesday's announcement comes four weeks after a brokerage rival, Charles Schwab, adopted an $8.95 flat fee for online trading.

Fidelity's move also puts its commissions below those of two other rivals. TD Ameritrade charges a flat $9.99, while E-Trade charges $7.99 to $12.99, depending on factors such as how many trades an investor makes.

Fidelity previously had a tiered pricing structure, with smaller customers paying as much as $19.95 per trade.

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