Best Brokerages For Mutual Funds

September 2009 | Categorized in Brokerage Education

While many people usually think of brokerages as a medium to buy and sell stocks, most people forget that they also offer a way for users to access mutual funds for long-term or retirement accounts.

If you are unfamiliar with mutual funds, the types that are available, and what they do, then take a second to learn about it.

Because mutual funds are traditionally meant to be held for longer than stocks and an investment company usually manages them, commissions tend to be more than a regular stock or option trader; however, if you are in for the long-term than it makes sense for these prices.

Before we take a look at the list, here are couple things to keep in mind before choosing the right brokerage for your mutual fund investing:

Does your bank offer investment services? With normal stock trading, most banks that offer related services tend to have non-competitive commissions, but many banks actually offer good deals on investing with mutual funds. Many times requiring you to pay no fees at all. Check to see if your bank offers such services.

Does the brokerage in question have access to the fund in question? While many funds are easily accessible, unfortunately there are times when you can’t invest in a mutual fund due the your particular broker. A good way to check is to do a quick symbol query through the site’s ticker search. Odds are if its there, then you can invest in it with them.

A list of the best brokerages for mutual funds.

Broker	Mutual Fund Commissions
TD Ameritrade	$50 to buy, sell, or exchange
E*Trade	$20 to buy or sell; $40 to exchange
Fidelity	$75 to buy or exchange; $0 to sell
Firstrade	$0 to buy, sell, or trade
Schwab	$50 to trade loaded funds
Vangaurd	$35 to buy, sell or exchange
Scottrade	$17 to buy, sell, or exchange
T. Rowe Price	$35 to buy or sell
Bank of America	$0 to buy, sell, or trade