Fidelity Investments is cutting commissions on online domestic stock trades. Wednesday's "Fund Track" column in The Wall Street Journal noted that Fidelity is lowering the fee to $7.95 per trade. Previously, Fidelity used a tiered plan, charging between $8 and $19.95.

The cut is similar to a move made by Charles Schwab in January, in which Schwab lowered online trading commissions by 31 percent.

As reported by The MFWire Tuesday, Fidelity is also now offering 25 iShares ETFs commission-free. The move again mirrors Schwab, who introduced eight commission-free ETFs in November. 

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