Fidelity announced late yesterday afternoon that it will now offer commission-free online trades for a suite of 25 iShares Funds. Offered in partnership with BlackRock, ETFs such as the iShares S&P 500 Index Fund (IVV), iShares Russell 2000 Index Fund (IWM), iShares Barclays Aggregate Bond Fund (AGG), iShares MSCI EAFE Index Fund (EFA) and iShares MSCI Emerging Markets Index Fund (EEM) will be available. It's not quite the same as offering its own ETF's, but it will be a boon for users of Fidelity's brokerage platform. Click here to download ETF Press Release 2-2-10.
Fidelity also announced that it has reduced its online U.S. equity trade commissions to $7.95 for all of its customers regardless of trading level. The new pricing will reduce online trade commissions for some customers by as much as 60%. The new pricing also includes trades made through Fidelity's mobile trading platform.