Discount brokerage charles Schwab & Co. in early January cut equity trading commissions for all of its $7.7 million retail brokerage clients. Henceforth, even the lowliest investor is entitled to put in a buy or sell order online for U.S. stocks for a mere $9 per trade. Not to be outdone, Fidelity Investments undercut Schwab a few weeks later by slashing its commission to $8 per trade. E-Trade responded shortly afterward with $8 trades for high-volume customers and $10 ones for everyone else.
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