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Fidelity notes that online trading fees are being dropped

Fidelity Investments has teamed with its main competitors to offer online, non-commissioned businesses as the brokerage industry continues its shift to low-cost.

traded funds, an emerging $ 4 trillion industry that overhauled the way Fidelity and its counterparts conduct business, dropped trading commissions. The news rocked company shares as corporate sales drivers became even dimmer.

Fidelity manages $ 2.46 trillion in assets for clients and has 21.8 million accounts with total assets of $ 6.8 trillion. The company previously charged $ 4.95 for trades.

"Fidelity is taking a different path than the industry with this decision," said Kathleen Murphy, president of Fidelity Investments' private investment business. said in a statement. "We offer unmatched value to our customers while challenging industry practices that seem to add value in one place when customers actually pay differently."

commissions, Fidelity chose a restraint.

In its statement, the company said it would automatically channel customer money into higher-yielding money market accounts and offer no payment for order flow when it sends its deals to execution.

"We made this decision after careful consideration of our customers and ensured that we met their full needs," added Murphy.

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