Who should I invest my money with?

Question

I use Fidelity now. My Roth ira is maxed out so I have another account that I'm starting to use for buying and selling more stocks and mutual funds but their short-term transaction fees are rediculous! I want to sell $10,000 worth of one fund so I can reinvest in something else but it costs $275 just to sell part of the mutual fund! I don't want to have to lock up my investments for 6 months just to avoid these rediculous fees.... Thanks.

Answer 1

invest it in me.lol

Answer 2

i started with zecco.....still use it, still very happy. only ones with no fee for stock trades, and no minumums.  it took me some time to see that most of my gains were lost to the fees i paid to actually buy stock and sell it....all the others will charge you fees for trading, but compare and see for yourself!

http://friends.zecco.com/r/a7a2877caab81...

Answer 3

TD Ameritrade has a low fee structure.

(I have no financial interest in them, nor do I actually use them.)

If you're a long term holder, it's probably cheaper to trade mf's directly thru the offering company, such as Vanguard. Personally I prefer etf's, however, and of course those are traded thru a broker and the commissions are low.

Answer 4

Mutual funds don't like short term traders. Some, as you have found out, put fees on shorter term trades. Trading in mutual funds increases costs for them. It also forces them to hold more cash. Both reduce returns. You shouldn't use mutual funds for short term timing.

Stocks shouldn't be a problem. I use Vanguard that has a separate brokerage function. And most of my funds there have been there a long time so moving money is not a problem for me.

But they too have some prohibitions against timing by moving money in and out and back in a fund. Only a couple I know of there have an immediate penalty. BUT those are long term horizon funds and they let you know that.

But I think you need to keep your longer term mutual fund investments separate from other funds you want to time. And six months is not a long time in investing.

Good Luck.