December 7, 2009
What Online Trading Website Is Best For Trading In Mutual Funds?
I am considering online trading and would prefer starting off buying and selling mutual funds (to reduce my risk) rather than investing in stocks – before I get familiar and confident with trading.
Is there a particular Online Trading Platform that is best suited for trading Mutual Funds?
Thanks.
It sounds like Scottrade might be a great option for you.
It only takes a $500 deposit to open the account and we have a variety of mutual fund options available. We offer funds ranging from no load and no transaction fee to the traditional load funds. You can see our list of funds by going to http://www.scottrade.com/investment_serv…
You can compare Scottrade’s commissions and fees with some other online brokerage firms at: http://www.scottrade.com/online_broker_c… .
I hope this information helps, and good luck with your investing!
Scottrade
http://www.Scottrade.com
1-800-619-7283
Many mutual funds have rules and fees to prevent or discourage short term trading. Also mutual funds are only priced at the close of trading each day and are generally reported by 3pm Pacific Time.
If you want to trade, ETFs (exchange traded funds) are what you should consider. ETFs may be traded throughout the day like stocks. You should pick a brokerage with a low transaction cost because trading costs can eat into any trading profits you might make.
I can recommend a website called “fibmaster” . google it. He has some great material to help you with trading.