Fidelity Investments is now offering clients zero commission for online trades of U.S stocks, exchange-traded funds and options.
Fidelity is the latest to join the zero-fee trade bandwagon after peers like Charles Schwab Corp., TD Ameritrade Holding Corp. and E*TRADE Financial Corp. announced similar offerings.
The company also said it is automatically directing retail investors' cash into higher yielding alternatives available for new brokerage and retirement accounts.
The zero commission applies to online U.S. equity trades, ETFs and options in a Fidelity retail brokerage account only for Fidelity Brokerage Services LLC retail clients, among other conditions disclosed by the company.
The changes take effect Oct. 10 for individual investors and will be available Nov. 4 for registered investment advisers.
