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Fidelity

Discussion in 'Online Brokers' started by status1, Feb 28, 2017.

  1. status1

    status1 Well-Known Member

    I saw a crawl on the bottom of the screen this morning saying fidelity lowers the commissions for online trading but it did not say to what price so I looked it up and I found this http://money.cnn.com/2017/02/28/pf/fidelity-cuts-online-trade-fee/
    So Schwab matched their price today after previously lowering it first
    Looks like they are racing to the bottom

    Maybe Ameritrade will join in the race to lower their fees but probably not as much since they get most of the revenue from the commissions rather than the services like Fidelity and Schwab
     
    TOPS likes this.
  2. stevegee58

    stevegee58 Well-Known Member

    I was stunned when I heard that too. I have a traditional IRA there and always just used it for the usual 60/40 stocks/bonds ETF portfolio. I never wanted to trade stocks or options there due to the expense.
    Not only is the ticket $4.95 but options are $0.65/contract.
     
  3. status1

    status1 Well-Known Member

    Looks like it's starting to happen
    I just got an email from Etrade saying that starting March 13th they will lower commissions from $9.99 to $6.95 plus $0.75 cents per option contract
    Now it's up to Ameritrade to see if they can match or beat the lower commission
     
  4. stevegee58

    stevegee58 Well-Known Member

    It'd be awful tempting to fund that TOS (TDA) account I opened years ago if they could just meet the Fidelity rates.
     
  5. MajorTom

    MajorTom Member

    Ask and ye shall receive

    Announcing new, lower commission prices
    Trade online equities for $6.95 and options for $6.95, plus $0.75 per contract—starting March 6.
    Alongside outstanding trading platforms, a strong track record of innovation, broad product choices, free education, and personalized support and guidance, we’re happy to bring even more value to your TD Ameritrade experience with lower pricing.

    Starting Monday, March 6, our commissions for online equity and exchange-traded fund (ETF) trades will be reduced to $6.95—and option pricing will be lowered to $6.95, plus $0.75 per contract. Option exercise and assignment fees will remain at $19.99.

    For more information, view our press release or call 800-669-3900 to speak to one of our TD Ameritrade representatives 24/7.
     
  6. stevegee58

    stevegee58 Well-Known Member

    Well that's an improvement but they're still holding onto their above-average commissions.
     

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