Wells Fargo just eliminated online commissions. Here’s everything we know about brokerages’ latest moves in the race to zero.

• Wells Fargo on Tuesday became the latest firm to eliminate online trading commissions for stocks and exchange-traded funds on its self-directed platform. Bank of America did the same on Monday. 
• Interactive Brokers, Charles Schwab, TD Ameritrade, E-Trade, and Fidelity all moved to eliminate fees for US-listed trades in late September and early October, in turn wiping out huge chunks of some of the companies’ market caps.
• Those moves speculated about consolidation across the industry; Schwab said in late November that it would purchase TD Ameritrade for $26 billion.
• Business Insider regularly takes our readers inside the major online brokerages. You can read our latest by subscribing to BI Prime.

The business of investing and trading online is undergoing an industry-wide shift, with all of the major brokerages sending their commissions to zero as competition mounts.

Wells Fargo on Tuesday became the latest firm to eliminate online trading commissions for stocks and exchange-traded funds on its self-directed platform. Bank of America did the same on Monday in its Merrill Edge platform after initially going to zero for some of its clients in October.

Interactive Brokers, Charles Schwab, TD Ameritrade, E-Trade, and Fidelity all moved to eliminate fees for US-listed trades in late September and early October, in turn wiping out huge chunks of some of the companies’ market caps. 

Those moves speculated about consolidation across the industry; Schwab said in late November that it would purchase TD Ameritrade for $26 billion.

Meanwhile, at least one startup is actually looking to pay for trades.

Several drivers are morphing these firms and influencing the choice to dump fees. Legacy brokers and big banks alike are rushing to compete with digital entrants for younger users.

Business Insider is reporting and analyzing these developments at a crucial moment for the industry. We broke down the drama unfolding in the online trading, wealth management, and discount brokerage arena.

Broker wars escalate 

November 26 —Charles Schwab’s $26 billion deal for TD Ameritrade is an aggressive play for size that was set in motion before brokers started slashing commissions

November 25 — It’s official: Charles Schwab strikes $26 billion deal to buy TD Ameritrade

October 21 — Bank of America is jumping into the brokerage price wars by axing commissions for most online trading clients

October 10 — Fidelity cuts online trading fees to zero, becoming the latest brokerage to make the move

October 3 — The SEC’s markets guru just praised brokers for slashing commissions — but warned they still need to do what’s best for investors

October 3 — Charles Schwab, E-Trade, and TD Ameritrade have seen a combined $18 billion in market value erased as the brokerage-fee war has ramped up

October 2 — E-Trade and 3 other big brokers have axed online trading commissions completely in the past week. Here’s how Fidelity responded when we asked about the fees.

October 2 — Charles Schwab on Charles Schwab: The founder explains why the firm just axed commissions as broker wars reach a fever pitch

October 2 — TD Ameritrade becomes the latest broker to eliminate fees — and its free stock trades will be available before Charles Schwab’s

October 1 — Charles Schwab says it will cut online stock and ETF fees to zero — and all the major brokers are getting clobbered

September 30 — The former CEO of a high-speed-trading firm is taking aim at Robinhood with a fintech startup that wants to pay you to trade

September 26 — Interactive Brokers announces commission-free trades on online US stock, ETF trades

September 24 — JPMorgan is taking aim at apps like Robinhood by quietly rolling out options trading to select You Invest customers

More brokerage and robo news

September 18 — Charles Schwab is losing a prominent markets analyst as the discount broker gears up to cut 600 jobs

September 18 — 2 senior executives are now out at Charles Schwab as the discount broker prepares to cut 600 jobs

September 13 —Wealthfront’s CFO says the roboadviser is already acting like a public company. That comes as it grabs assets in a crowded, competitive market.

September 13 — Jack Dorsey’s Square is reportedly testing a free stock-trading service that would rival Robinhood

August 16 — Rivals E-Trade and TD Ameritrade had CEO shakeups within weeks of each other. The departures come as competition ratchets up among e-brokers.

July 23 — Charles Schwab’s retail head and marketing chief are out — and the firm’s still figuring out what’s next

July 22 —Robinhood, the no-fee stock trading app, just announced a giant-size $323 million round of funding, making it worth over $7 billion

July 17 —Charles Schwab is experimenting with Netflix-style pricing. It’s the clearest example yet of finance trying to imitate Silicon Valley.

July 2 — The inside story of how Robinhood, a $6 billion investing app for millennials, blew a huge launch so badly that Congress got involved

April 26 — $1.2 trillion brokerage TD Ameritrade is developing a Netflix-like recommendation engine in a bid to win investor attention

March 27 — A fintech entering the crowded wealth management space just nabbed nearly $9 million in funding from the VCs that backed Venmo, Monzo and Acorns

March 18 — For the CEO of the firm backing robos like Betterment and Stash, the future of managing money could be more like ordering dinner from a restaurant

February 8 — SoFi held talks to acquire a fintech company backing some of the hottest robo advisors as it eyes expansion beyond its lending roots

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