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Trading Commissions and Margin Rates

Whether you trade stocks, options, bonds, or CDs, you'll receive competitive online commission rates—lower than Schwab, TD Ameritrade, and E*Trade.1

Online Commissions, Fees, and Concessions

Stocks
All online U.S. equity trades
Any number of shares or trades
$7.95 per trade
Options
All online options trades $7.95 per trade, plus
$0.75 per contract
ETFs
Purchase 65 iShares® ETFs online Free
Purchase 10 Fidelity sector ETFs online Free
All other ETFs $7.95 per trade
Bonds2
U.S. Treasury Auctions, incl. TIPS Auctions Free
U.S. Treasury Bills, Notes, Bonds, incl. TIPS Free
GSE (Agency Securities), secondary CDs $1.00 per bond
Municipals $1.00 per bond
Corporates (BBB– or higher), CATS/TIGRS $1.00 per bond
Corporates (BB+ or lower) $1.00 per bond
Primary market CDs Free
Secondary market CDs $1.00 per bond
Mutual Funds*
Fidelity and non-Fidelity funds Free
Most FundsNetwork Transaction Fee funds $49.95 flat fee**
*Other concessions or commissions may apply if traded with a Fidelity representative.
**Certain funds will have a transaction fee of $75. To identify any applicable transaction fees associated with the purchase of a given fund, please refer to the "Fees and Distributions" tab on the individual fund page on Fidelity.com

Margin Rates

The margin rate you pay depends on your outstanding margin balance—the higher your balance, the lower the margin rate you are charged.

Debit balance Margin rate Effective rate
$500,000+ Base – 2.825% 3.750%
$100,000–$499,999 Base 6.575%
$50,000–$99,999 Base + 0.50% 7.075%
$25,000–$49,999 Base + 1.00% 7.575%
$10,000–$24,999 Base + 1.50% 8.075%
$0–$9,999 Base + 2.00% 8.575%

Fidelity's current base margin rate, effective since 01/12/09, is 6.575%.

Learn more about margin borrowing at Fidelity.

Free commission offer applies to online purchases of 65 iShares® ETFs and Fidelity ETFs in a Fidelity brokerage account with a minimum opening balance of $2,500. The sale of ETFs are subject to an activity assessment fee (of between $0.01 to $0.03 per $1000 of principal) by Fidelity. After September 30, 2013, 65 iShares ETFS are subject to a short-term trading fee by Fidelity, if held less than 30 days. After January 31, 2014, Fidelity ETFs are subject to a short-term trading fee by Fidelity, if held less than 30 days.
$7.95 trading commission applies to online purchases of U.S. equities in a Fidelity brokerage account with a minimum opening balance of $2,500 for Fidelity Brokerage Services LLC retail clients. Sell orders are subject to an activity assessment fee (of between $0.01 to $0.03 per $1000 of principal) by Fidelity. Other conditions may apply. See Fidelity.com/commissions for details.
1. Commission comparison based upon published website commission schedules, as of 2/1/2013, for E*Trade, Schwab, and TD Ameritrade for online U.S. equity trades and less than 1500 trades per quarter. For E*Trade: $9.99 per trade for 0-149, $7.99 per trade for 150 to 1,499 and $6.99 per trade for 1,500 or more trades per quarter. For Schwab: $8.95 for up to 999,999 shares per trade, though orders of 10,000 or more shares or greater than $500,000 may be eligible for special pricing. For TD Ameritrade: $9.99 per market or limit order trade for an unlimited amount of shares.
2. Minimum concessions apply: Online $8; if traded with a Fidelity representative, $19.95. For US Treasuries traded with a Fidelity representative, $19.95 per trade. Fixed income trading requires a Fidelity brokerage account with a minimum opening balance of $2,500. Rates are for U.S. Dollar-denominated bonds, additional fees and minimums apply for non-Dollar bond trades. Other conditions may apply. See Fidelity.com/commissions for details. Please note that concessions may impact the total cost of the transaction and the total, or "effective," yield of your investment. The offering broker may separately mark up or mark down the price of the security and may realize a trading profit or loss on the transaction.

ETFs are subject to market fluctuation and the risks of their underlying investments. ETFs are subject to management fees and other expenses. Unlike mutual funds, ETF shares are bought and sold at market price, which may be higher or lower than their NAV, and are not individually redeemed from the fund.

For iShares ETFs, Fidelity receives compensation from the ETF sponsor and/or its affiliates in connection with an exclusive, long-term marketing program that includes promotion of iShares ETFs and inclusion of iShares funds in certain FBS platforms and investment programs. Additional information about the sources, amounts, and terms of compensation is described in the ETF’s prospectus and related documents. Fidelity may add or waive commissions on ETFs without prior notice. BlackRock and iShares are registered trademarks of BlackRock, Inc. and its affiliates.

Options trading entails significant risk and is not appropriate for all investors. Certain complex options strategies carry additional risk. Prior to trading options, please read Characteristics and Risks of Standardized Options, and call 800-343-3548 to be approved for options trading.  Supporting documentation for any claims, if applicable, will be furnished upon request.

Margin trading entails greater risk, including but not limited to risk of loss and incurrence of margin interest debt, and is not suitable for all investors. Please assess your financial circumstances and risk tolerance prior to trading on margin. Margin credit is extended by National Financial Services, Member NYSE, SIPC.

System availability and response times may be subject to market conditions.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information.  Read it carefully.
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