Mutual Fund Trading
Mutual fund trading is a popular choice for many types of investors. This section will help you learn how to buy and sell mutual funds including placing orders, checking/modifying/cancelling orders, commissions and fees, transfers and some helpful FAQs.
Orders must be received no later than 3:59:59 p.m. Eastern Time with the exception of trades placed in the ProFunds, CGM, Sequoia, Leuthold, and Direxion families of funds, which have a 3 p.m. ET cutoff.
Learn more about reinvestment options for mutual funds, systematic purchases and redemptions, breakpoint discounts and exchanging a mutual fund.
To check the status of a mutual fund order, first log into your account and click the My Account tab at the top of the page.
Modifies and cancels must be received by the trading cutoff time on the day you place the order (4 p.m. ET, 3 p.m. ET for the ProFunds, CGM, Sequoia, Leuthold, and Direxion fund families).
Scottrade offers a wide variety of no-load funds without a transaction fee when trading online.
Short-term trading of mutual funds by investors can adversely impact the funds due to the increased administrative costs of managing the fund's portfolio.
Mutual Fund positions transferred into your Scottrade account must be in good form before they can be sold. Transfers require settlement at the fund.
Which mutual funds can I buy from Scottrade? What is the minimum holding period for a mutual fund at Scottrade? How can I get a mutual fund prospectus?