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Brokerages’ race to zero fees points to a bigger war to come

March 1, 2017 By Trevor Hunnicutt and Tim McLaughlin NEW YORK/BOSTON (Reuters) – Fidelity Investments Inc and Charles Schwab Corp made moves in quick succession on Tuesday to slash trade commissions, accelerating the race to zero and foreshadowing a more important battle to win clients for potentially more lucrative services. Fidelity cut its commissions to trade stocks and exchange-traded funds to $4.95 from $7.95 a trade, a 38 percent reduction for its retail brokerage clients. Rival Schwab swiftly followed by slicing its own fees on standard online trades to $4.95,…

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Fidelity slashes fees on stock and ETF trades to $4.95

February 28, 2017 BOSTON (Reuters) – Fidelity Investments said on Tuesday it cut the price on trades for stocks and exchange-traded funds by 38 percent for retail brokerage clients. Boston-based Fidelity’s price reduction to $4.95 from the previous commission of $7.95 a trade, will likely put pressure on the rest of the U.S. brokerage industry. Fidelity’s price offers a discount of more than 50 percent when compared with some rivals. “It puts the flag up that Fidelity is the value player in investing,” said Ram Subramaniam, president of Fidelity’s retail…

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