DLJdirect Tuesday rolled out its online brokerage service for individual investors in the UK.
The DLJdirect UK service will offer online trading at a 1 percent commission for trades up to £2,500 (US$3,976.13), with a 0.5 percent rate for the next £2,500 and 0.1 percent thereafter, and at a minimum trading fee of £15 (US$23.86).
DLJdirect (DIR) expects to offer trades of US Securities by October.
In June, DLJdirect opened a similar service in Japan, the first in a wave of brokerages to hit the region. In the UK, DLJdirect will face competition from fellow U.S.-based service E*TRADE UK, which launched last month.
Free Internet access leader FreeServe (FREE) launched its own online brokerage on August 17, as a joint
venture with GlobalNet Financial.com, Inc., First Marathon Inc. and Mesirow Financial. GlobalNet owns and operates FreeServe’s finance site, UKiNvest.