Welcome to the commission-free trading era.

Bank of America and Raymond James announced commission-free trading programs of their own today, following similar announcements in recent weeks by Fidelity, TD Ameritrade, E*Trade and Schwab.

Raymond James announced that it is eliminating transaction costs for all stock, ETF and option trades for registered investment advisors within its Investment Advisors Division, according to a CNBC report. The decision will only impact fee-based accounts offered by advisors, who were paying $8 to $10 per trade.

In a similar move, Bank of America announced that any customer in its retail banking loyalty program will now get unlimited free trades for stocks, options and ETFs via its Merrill Edge online platform.

In addition, self-directed clients not enrolled in Bank of America or Merrill Lynch loyalty programs will now pay a flat $2.95 rate for all stock and ETF trades, down from $6.95, with no trade or balance minimums.