Wednesday, October 21, 2009

Fidelity Offers Clients Trade Foreign Stocks Directly

. Wednesday, October 21, 2009

By stockOzone team

Fidelity Investments, the world's biggest mutual fund firm, is letting clients buy and sell stocks online in 12 foreign markets at a time when investors want more international stocks to their portoflios.

Individual investors at Fidelity's brokerage unit have long been able to put their money into foreign markets through the firm's mutual funds or by buying foreign stocks by telephone.

Now they can do it themselves more quickly and cheaply at their own computers, the company said on Thursday.

"Neither our customers nor the company can afford to ignore the international markets," said James Burton, president of Fidelity's retail brokerage business.

The platform may appeal to customers who are worried about the U.S. dollar's decline -- it hit a 14-month low against the euro on Wednesday -- and therefore want to hold more foreign stocks.

Clients will be able to conduct their trades in U.S. dollars or eight other currencies including the British pound, Hong Kong dollar and Swiss franc. They do not have to open a separate account with Fidelity to trade international stocks.

The company will offer similar services to financial advisers.

Fidelity's annoucement comes almost three years after online bank and brokerage company E*Trade launched a similar service allowing clients to trade directly in six overseas markets.

Disclosure: Author does not own any of the stocks discussed here.

Bookmark and Share


Post a Comment

Visit to discover Indian blogs