BOSTON Fidelity Brokerage Services launched a product yesterday that lets investors create baskets of five to 50 securities.
The minimum initial deposit required to create such a basket is $10,000, either in cash or a margin account. Once the basket is created, investors can track and trade individual securities at any time.
Each basket can hold a maximum of 50 securities, and investors can create as many baskets as they want. Customers are charged a commission to trade each underlying security in the basket, but no annual fee. Fidelity said in press release that it plans, in the near future, to introduce stock baskets that follow defined investing styles.