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Wells Fargo just eliminated online commissions. Here’s everything we know about brokerages’ latest moves in the race to zero.

Wells Fargo online brokerage round up 2x1

  • Wells Fargo on Tuesday became the latest firm to eliminate online trading commissions for stocks and exchange-traded funds on its self-directed platform. Bank of America did the same on Monday.
  • Interactive Brokers, Charles Schwab, TD Ameritrade, E-Trade, and Fidelity all moved to eliminate fees for US-listed trades in late September and early October, in turn wiping out huge chunks of some of the companies’ market caps.
  • Those moves speculated about consolidation across the industry; Schwab said in late November that it would purchase TD Ameritrade for $26 billion.
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    Source:: BusinessInsider.Com