Fidelity announced on February 2 that it will waive commissions on 25 iShares ETFs for at least the next three years. The move followed an announcement from Charles Schwab in November that it will not charge customers commissions when they trade any of the eight ETFs it manages. Fidelity also lowered its online stock commission to $7.95 per trade for all customers (that amounts to a reduction of up to 60% from the previous level). The action undercut Schwab, which in January cut its online stock commission from $12.95 to $8.95 per trade.
Discount Brokers Lower Fees in Battle Over ETFs – Kiplinger.com February 11, 2010