On February 3, 2017, Charles Schwab Corp announced it was cutting its commission rates on U.S. stock and exchange-traded fund trades from $8.95 per trade to $6.95 per trade. One month later, on March 1, 2017, Fidelity Investments ran full page ads in major newspapers announcing that it would cut its commission rate from $7.95 to $4.95 per trade.

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