Brokerage Commission
and Fee Schedule
FEES AND COMPENSATION
Fidelity brokerage accounts are highly flexible, and our cost
structure is flexible as well. Our use of “à la carte” pricing for
many features helps to ensure that you only pay for the
features you use.
About Our Commissions and Fees
The most economical way to place trades is online, meaning
either through Fidelity.com, Fidelity Active Trader Pro®, or Fidelity
Mobile®. The next most economical way is Fidelity Automated
Service Telephone (FAST®). This automated service is available
around the clock and can be accessed from a touch-tone phone.
The fees described in this document apply to the Fidelity
Account®, Non-Prototype Retirement Accounts, Health Savings
Accounts (HSAs), and Fidelity Retirement Accounts (including
Traditional, Roth, Rollover, SEP-IRA, SIMPLE IRAs, and Fidelity
Retirement Plans (Keogh and SE 401(k)), and inherited IRAs and
inherited Keogh accounts). Note that for Stock Plan Services
Accounts, a different fee schedule located on NetBenefits.com
may apply for Exercise-and-Sell Fees for Stock Option Plans and
Sale of Company Stock. This Fidelity Brokerage Commission and
Fee Schedule applies to all other transactions. The fees described
in this document may change from time to time without notice.
Before placing a trade, consider Fidelity’s most recent Brokerage
Commission and Fee Schedule, available at Fidelity.com or
through a Fidelity representative.
STOCKS/ETFs
Online $0.00 per trade
FAST® $12.95 per trade
Rep-Assisted $32.95 per trade
The remuneration that Fidelity receives and keeps as described in this
section applies to transactions and activities involving securities including,
but not limited to, domestic (U.S.) equities traded on national exchanges,
short sales, exchange-traded funds (ETFs), and U.S.-traded foreign securi-
ties (ADRs, or American Depository Receipts, and ORDs, or Ordinaries).
1
For details on foreign stock trading, see the Foreign Stocks section. Large
block orders requiring special handling, restricted stock orders, and certain
directed orders may carry additional fees, which will be disclosed at the
time of the transaction.
In addition to the per trade charges identified above, Fidelity’s remuneration
also includes a fee that is charged on all sell orders (“Additional Assessment”).
The Additional Assessment, which typically ranges from $0.01 to $0.03
per $1,000 of principal, is charged by Fidelity. Fidelity uses the Additional
Assessment to pay certain charges imposed on Fidelity by national securities
associations, clearing agencies, national securities exchanges, and other
self-regulatory organizations (collectively, “SROs”). The SROs in turn pay the
SEC using the money they collect from Fidelity and other broker-dealers.
The Additional Assessment that Fidelity charges you is designed to offset
the charges imposed on Fidelity by the SROs, which in turn are intended to
cover the costs incurred by the government, including the SEC, for supervising
and regulating the securities markets and securities professionals. You
acknowledge, understand, and agree that Fidelity determines the amount
of the Additional Assessment in its sole and exclusive discretion, and that
the Additional Assessment may differ from or exceed the charges imposed
on Fidelity by the SROs. These differences are caused by various factors,
including, among other things, the rounding methodology used by Fidelity, the
use of allocation accounts, transactions or settlement movements for which
a fee by the SROs may not be assessed, and differences between the dates
of changes to rates charged by the SROs. You understand, acknowledge, and
agree that Fidelity has made no representation that the Additional Assessment
charged to you will equal the fees assessed against Fidelity by the SROs in
connection with your transactions. The Additional Assessment is in addition
to the commissions we charge (i.e., the per trade charges identified above),
and is included on your trade confirmation as a part of the Activity Assessment
Fee. For the exact amount of the Additional Assessment charged on a
particular transaction, please contact a Fidelity representative.
Fidelity Brokerage Services LLC (“FBS”) and/or NFS receives remuneration,
compensation, or other consideration (such as financial credits or reciprocal
business) for directing orders in certain securities to particular broker-dealers
or market centers for execution. The payer, source, and nature of any
compensation received in connection with your particular transaction will vary
based on the venue that a trade has been routed to for execution and will
be disclosed upon written request to FBS. Please refer to Fidelity’s customer
agreement for additional information about order flow practices and to Fidelity’s
commitment to execution quality
(http://personal.fidelity.com/products/trading/
Fidelity_Services/Service_Commitment.shtml)
for additional information about order
routing. Also review FBS’s annual disclosure on payment for order flow policies
and order routing policies.
FBS has entered into a long-term, exclusive and significant arrangement with the
advisor to the iShares Funds that includes but is not limited to FBS’s promotion
of iShares funds, as well as in some cases purchase of certain iShares funds at
a reduced commission rate (“Marketing Program”). FBS receives compensation
from the fund’s advisor or its affiliates in connection with the Marketing Program.
FBS is entitled to receive additional payments during or after termination of
the Marketing Program based upon a number of criteria, including the overall
success of the Marketing Program. The Marketing Program creates significant
incentives for FBS to encourage customers to buy iShares funds. Additional
information about the sources, amounts, and terms of compensation is
described in the ETF’s prospectus and related documents.
Certain ETF sponsors pay an asset-based fee in support of their ETFs on Fidelity’s
platform that supports services including related shareholder support services, the
provision of calculation and analytical tools, as well as general investment research
and education materials regarding ETFs. Fidelity does not receive payment from
these ETF sponsors to promote any particular ETF to its customers, and these
ETF shares are not marginable for 30 days after purchase. Customers purchasing
shares in a limited number of ETFs that are not supported by their providers will be
subject to a $100 service fee.
NEW ISSUE
Fidelity makes certain new issue products available without a
separate transaction fee. Fidelity may receive compensation for
participating in the offering as a selling group member or underwriter.
The compensation Fidelity receives from issuers when acting as both
underwriter and selling group member is reflected in the “Range of
Fees from Underwriting” column. When Fidelity acts as underwriter
but securities are sold through other selling group members, Fidelity
receives the underwriting fees less the selling group fees.
Securities Range of Fees
from Participation
in Selling Group
Range of Fees
from Underwriting
IPOs • 3% to 4.2% of the
investment amount
• 5% to 7% of the
investment amount
Follow-Ons • 1.8% to 2.4% of the
investment amount
• 3% to 4% of the
investment amount
Please refer to the applicable pricing supplement or other
offering document for the exact percentage sales concession or
underwriting discount.
OPTIONS
Online $0.00 per trade + 65¢ per contract
FAST®
$12.95 per trade + 65¢ per contract
Rep-Assisted
$32.95 per trade + 65¢ per contract
Buy-to-close orders placed online for options priced 0¢ to 65¢ are
commission-free and are not subject to per contract option fees. For
trades placed on other channels, you will not be charged a per contract
fee when the contract price is 65¢ or less. Regular option rates (as shown
above) apply when the contract price exceeds 65¢.
Maximum charge: 5% of principal (subject to a minimum charge of $12.95 for
FAST trades and $32.95 for Rep-Assisted trades).
Exercises and assignments are commission-free and are not charged a per
contract fee.
In addition to the per trade/contract fees described above, Fidelity’s
remuneration also includes fees it charges you (“Options Fee”) that are
designed to offset the Options Regulatory Fee (“ORF”) that the Options
Clearing Corporation (“OCC”) charges Fidelity through various options
exchanges. The ORF applies to any transaction to buy or sell options contracts
and represents the cumulative charges imposed by all the participating options
exchanges. The ORF has ranged from $0.02 to $0.04 per contract but is subject
to change at any time. You acknowledge, understand, and agree that Fidelity
determines the amount of the Options Fee charged to you and its other
customers in its sole and exclusive discretion, and that the Options Fee amount
collected from you by Fidelity may differ from or exceed the ORF that Fidelity
pays to OCC. These differences are caused by various factors, including,
among other things, the rounding methodology used by Fidelity, the use of
allocation accounts, transactions for which a fee may not be assessed, and
differences between the dates of changes to the ORF rate. You understand,
acknowledge, and agree that Fidelity has made no representation that the
fees assessed to you will equal the fees assessed against Fidelity by the OCC
in connection with your transactions. This Options Fee is in addition to your
commission and is included on your trade confirmation as a part of the Activity
Assessment Fee. For the exact amount of the Options Fee charged to you on a
particular transaction, please contact a Fidelity representative.
1
A Financial Transaction Tax of 0.30% of principal per trade on purchases of French securities, 0.10% of principal per trade on purchases of Italian securities, and
0.20% of principal per trade on Spanish securities may be assessed.