I am trying to find an online broker to invest with on a regular monthly or quarterly basis in no load mutual funds. I have researched TDAmeritrade, Scottrade, and many other online brokers. The best I have found so far is that TD Ameritrade has many no load mutual funds and charge $49.99 for a buy (any amount of shares) in a no load fund. I have heard that E-Trade might be better for an investor who wants to invest quite regularly.
Can anyone please give me some info on which online broker would be best to invest in no load mutual funds on a regular basis. Thanks.
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To remove first post, remove entire topic.
I am trying to find an online broker to invest with on a regular monthly or quarterly basis in no load mutual funds. I have researched TDAmeritrade, Scottrade, and many other online brokers. The best I have found so far is that TD Ameritrade has many no load mutual funds and charge $49.99 for a buy (any amount of shares) in a no load fund. I have heard that E-Trade might be better for an investor who wants to invest quite regularly.
Can anyone please give me some info on which online broker would be best to invest in no load mutual funds on a regular basis. Thanks.
I am surprised that Ameritrade's fees are that high. You may want to call them to confirm this if you haven't already.
Here is E*Trades:
Mutual Funds
$0
Transaction-fee funds
$19.99
Load funds
See prospectus for amount of load
Broker-assisted trades
$45 plus the applicable commission
1 You can invest in the mutual funds available through E*TRADE Securities' no-load, no-transaction fee program without paying loads, transaction fees, or commissions. To discourage short-term trading, E*TRADE Securities will charge an Early Redemption Fee of $49.99 on redemptions or exchanges of no-load, no transaction fee funds that are held less than 90 days. Direxion, ProFunds and Rydex mutual funds, or funds held at least 90 days will not be subject to the Early Redemption Fee. All fees and expenses as described in the fund's prospectus still apply. Please read the fund's prospectus carefully before investing.
I currently use E*Trade (but have no mutual funds), and for the most part am very happy with them. The trading fees are a little higher, but I like the banking feature being tied to my brokerage account. Clay is right, eventually they will get taken over by someone, so who knows what you'll get when that happens.
Good luck with whatever you decide.
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KS,
I am surprised that Ameritrade's fees are that high. You may want to call them to confirm this if you haven't already.
Here is E*Trades:
Mutual Funds
$0
Transaction-fee funds
$19.99
Load funds
See prospectus for amount of load
Broker-assisted trades
$45 plus the applicable commission
1 You can invest in the mutual funds available through E*TRADE Securities' no-load, no-transaction fee program without paying loads, transaction fees, or commissions. To discourage short-term trading, E*TRADE Securities will charge an Early Redemption Fee of $49.99 on redemptions or exchanges of no-load, no transaction fee funds that are held less than 90 days. Direxion, ProFunds and Rydex mutual funds, or funds held at least 90 days will not be subject to the Early Redemption Fee. All fees and expenses as described in the fund's prospectus still apply. Please read the fund's prospectus carefully before investing.
I currently use E*Trade (but have no mutual funds), and for the most part am very happy with them. The trading fees are a little higher, but I like the banking feature being tied to my brokerage account. Clay is right, eventually they will get taken over by someone, so who knows what you'll get when that happens.
Another option you may want to consider is finding a mutual fund company you like, ie: Vanguard, Fidelity, etc, and invest with them directly. My wife and I use Vanguard for our Roth's. But you'll need to check the transaction fees with them as well.
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Another option you may want to consider is finding a mutual fund company you like, ie: Vanguard, Fidelity, etc, and invest with them directly. My wife and I use Vanguard for our Roth's. But you'll need to check the transaction fees with them as well.
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