Best way to buy mutual fund?
10-06-2007, 11:33 PM
#1
trees grow in
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Best way to buy mutual fund?
Hey guys, let's say I have an extra $500 every month that I was to buy mutual funds with, what/how would be the best way to go about it? Online trading acct? If so, which one? Or go to a bank and talk with an investment consultant? But I think they rape you up the arse with those fees.
10-07-2007, 10:09 AM
#2
Burning Brakes
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dont ever go to a bank for investment advice/products.
Go to a brokerage. Try the mutual fund company directly. www.fidelity.com is my choice
Go to a brokerage. Try the mutual fund company directly. www.fidelity.com is my choice
10-07-2007, 11:15 AM
#4
Team Owner
Vanguard is the king of index mutual funds and has low fees. One draw back is you need a minimum of $3,000 initial investment to a fund.
10-08-2007, 10:12 AM
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Burning Brakes
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Originally Posted by coconut
So, is Fidelity a brokerage company, or a mutual fund?
Fidelity is the largest mutual fund company. Vanguard is #2. Both companies have various mutual funds based on what you're looking for.
A Fidelity brockerage account allows you to buy/sell mutual funds (for no transaction fee), buy/sell stocks/options/bonds/futures/etc (for transaction fees), and do other banking related stuff.
10-09-2007, 10:39 AM
#7
Originally Posted by Slinks
Both.
Fidelity is the largest mutual fund company. Vanguard is #2. Both companies have various mutual funds based on what you're looking for.
A Fidelity brockerage account allows you to buy/sell certain mutual funds (for no transaction fee) others can cost you $75 to buy, buy/sell stocks/options/bonds/futures/etc (for transaction fees), and do other banking related stuff.
Fidelity is the largest mutual fund company. Vanguard is #2. Both companies have various mutual funds based on what you're looking for.
A Fidelity brockerage account allows you to buy/sell certain mutual funds (for no transaction fee) others can cost you $75 to buy, buy/sell stocks/options/bonds/futures/etc (for transaction fees), and do other banking related stuff.
fixed for clarity.
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10-09-2007, 12:12 PM
#9
Originally Posted by coconut
ohhh, So, does Fidelity charge a fee when you buy, or after you sell?
10-09-2007, 12:59 PM
#10
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use scottrade, I believe theres no commission fee for mutual funds and you can buy other companies funds like t. Rowe Price
10-09-2007, 07:10 PM
#11
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Originally Posted by DAROCK
They have a bunch of NTF (No transaction fee) funds, but there are others that they charge $75 to buy.
Also, there's a bunch of other non-fidelity funds which are included as part of their NTF Fund selection.
For further clarity -- some funds do have a 'short term trading' fee, which is clearly stated on the funds page. For instance, one fund might say 3% fee if sold within 90 days of purchase, others may have a 6 month period. Many have no short term requirement. Although Fidelity discourages trading funds for less than 30 days.
For a list -- http://personal.fidelity.com/product...ll_frame.shtml
To be honest, the only bad thing I can say about fidelity is that its not good for trading penny stocks. Other than that, they're the best discount broker around in my opinion. Whereas with Ameritrade/Etrade/Scottstrade you can find some pretty alarming negatives.
10-10-2007, 08:08 AM
#12
Originally Posted by Slinks
For more clarity. All of Fidelity's mutual funds are 'NTF' funds. No transaction/front-loaded/back-loaded fees; just the normal management fee.
Also, there's a bunch of other non-fidelity funds which are included as part of their NTF Fund selection.
For further clarity -- some funds do have a 'short term trading' fee, which is clearly stated on the funds page. For instance, one fund might say 3% fee if sold within 90 days of purchase, others may have a 6 month period. Many have no short term requirement. Although Fidelity discourages trading funds for less than 30 days.
For a list -- http://personal.fidelity.com/product...ll_frame.shtml
To be honest, the only bad thing I can say about fidelity is that its not good for trading penny stocks. Other than that, they're the best discount broker around in my opinion. Whereas with Ameritrade/Etrade/Scottstrade you can find some pretty alarming negatives.
Also, there's a bunch of other non-fidelity funds which are included as part of their NTF Fund selection.
For further clarity -- some funds do have a 'short term trading' fee, which is clearly stated on the funds page. For instance, one fund might say 3% fee if sold within 90 days of purchase, others may have a 6 month period. Many have no short term requirement. Although Fidelity discourages trading funds for less than 30 days.
For a list -- http://personal.fidelity.com/product...ll_frame.shtml
To be honest, the only bad thing I can say about fidelity is that its not good for trading penny stocks. Other than that, they're the best discount broker around in my opinion. Whereas with Ameritrade/Etrade/Scottstrade you can find some pretty alarming negatives.
You're right on.
My Rollover and Roth IRA are with Fidelity and I don't have any complaints about them. They have the most mutual funds available to the consumer. I am so used to their website, I am having a hard time adjusting to scottrade's, which is where I have my regular investment account.
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