Fidelity Cuts Fees-Again
May 23, 2005
The nations largest mutual fund company has done it again.
Fidelity Investments last week decided to halve the per-contract charge on options trading for all tiers-Gold, Silver and Bronze-to 75 cents.
On a trade of 10 option contracts, for example, Gold clients could save upwards of 33%, Silver clients enjoy a 51% cut, and Bronze clients earn a 42% savings.
All of the cuts are effective immediately and signal yet another salvo in an industry-wide fee war that began 20 months ago.
These reductions are massive, Jeff Carney, president of Fidelity Personal Investments told Reuters news service.
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