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On Tuesday Fidelity Investments slashed online retail commissions for U.S. stock and exchange-traded fund trades to $4.95 from $7.95. Gilding the lily much? Fidelity tops Barron's Best Online Broker Ranking already.

"With these unprecedented price cuts Fidelity is continuing to transform the brokerage industry, bringing the best value to retail clients," said Ram Subramaniam, president of Fidelity's retail brokerage business in an emailed statement. "Our active trader clients who make hundreds of trades each year will particularly benefit from our dramatic price reductions, and all clients who trade will be able to keep more money in their pockets."