Knowledge Center

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.

Mutual Fund Trading Hours

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.

Placing Mutual Fund Orders

Learn more about reinvestment options for mutual funds, systematic purchases and redemptions, breakpoint discounts and exchanging a mutual fund.

Checking Order Status

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.

Modifying/Canceling an Open Order

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).

Mutual Fund Commissions

Scottrade offers a wide variety of no-load funds without a transaction fee when trading online.

Short-Term Redemption Fees

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 Transfers

Mutual Fund positions transferred into your Scottrade account must be in good form before they can be sold. Transfers require settlement at the fund.

Mutual Fund FAQs

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?

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The information and content provided in the Scottrade® Knowledge Center is for informational and/or educational purposes only. The information presented or discussed is not, and should not be considered, a recommendation or an offer of, or solicitation of an offer by, Scottrade or its affiliates to buy, sell or hold any security or other financial product or an endorsement or affirmation of any specific investment strategy. You are fully responsible for your investment decisions. Your choice to engage in a particular investment or investment strategy should be based solely on your own research and evaluation of the risks involved, your financial circumstances and your investment objectives. Scottrade, Inc. and its affiliates are not offering or providing, and will not offer or provide, any advice, opinion or recommendation of the suitability, value or profitability of any particular investment or investment strategy.

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Online market and limit stock trades are just $7 for stocks priced $1 and above. Additional charges may apply for stocks priced under $1, mutual fund, and option transactions. Detailed information on our fees can be found in the Explanation of Fees (PDF).

You must have $500 in equity in an Individual, Joint, Trust, Traditional IRA, Roth IRA, or SEP IRA account with Scottrade to be eligible for a Scottrade Bank® account. In this instance, equity is defined as Total Brokerage Account Value minus Recent Brokerage Deposits on Hold.

Scottrade does not charge setup, inactivity or annual maintenance fees. Applicable transaction fees still apply.

Scottrade does not provide tax advice. The material provided is for informational purposes only. Please consult your tax, or legal, advisor for questions concerning your personal tax or financial situation.

Select investments are commission free to those using Scottrade's online platforms. Other fees and charges may apply.

Any specific securities, or types of securities, used as examples are for demonstration purposes only. None of the information provided should be considered a recommendation or solicitation to invest in, or liquidate, a particular security or type of security.

Investors should consider the investment objectives, charges, expense, and unique risk profile of an Exchange Traded Fund (ETF) carefully before investing. Leveraged and Inverse ETFs may not be suitable for all investors and may increase exposure to volatility through the use of leverage, short sales of securities, derivatives and other complex investment strategies. These funds' performance will likely be significantly different than their benchmark over periods of more than one day, and their performance over time may in fact trend opposite of their benchmark. Investors should monitor these holdings, consistent with their strategies, as frequently as daily. A prospectus contains this and other information about the ETF and should be obtained from the issuer. The prospectus should be read carefully before investing.

Investors should consider the investment objectives, risks, charges and expenses of a mutual fund carefully before investing. A mutual fund's prospectus contains this and other information about the mutual fund. Prospectuses may be ordered through Scottrade.com or through a Scottrade branch office. The prospectus should be read carefully before investing. No transaction fee (NTF) funds are subject to the terms and conditions of the NTF funds program. Scottrade is compensated by the funds participating in the NTF program through recordkeeping, shareholder, or SEC 12b-1 fees.

Margin trading involves interest charges and risks, including the potential to lose more than deposited or the need to deposit additional collateral in a falling market. The Margin Disclosure Statement and Agreement (PDF) is available for download, or it is available at one of our branch offices. It contains information on our lending policies, interest charges, and the risks associated with margin accounts.

Options involve risk and are not suitable for all investors. Detailed information on our policies and the risks associated with options can be found in the Scottrade Options Application and Agreement, Brokerage Account Agreement, and by downloading the Characteristics and Risks of Standardized Options and Supplements (PDF) from The Options Clearing Corporation, or by requesting a copy from a Scottrade branch office. Supporting documentation for any claims will be supplied upon request.

Market volatility, volume, and system availability may impact account access and trade execution.

Testimonials may not be representative of the experience of other clients and are no guarantee of future performance or success.

Keep in mind that while diversification may help spread risk it does not assure a profit, or protect against loss, in a down market.

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