Scottrade offers a wide variety of no-load funds without a transaction fee* when trading online. Plus, your mutual fund holdings will appear both online and on your Scottrade® statements.
Online Mutual Fund Trading
Transaction Fees vs. Loads
A "load" is a fee imposed by a mutual fund family to buy or sell shares. There are two types of loads: front-end and back-end.
In a front-end load, you pay a fee to purchase a fund, but nothing to sell. In a back-end load you pay nothing to purchase the fund, but you may have to pay a fee to sell it. For additional information on fees and expenses, please see the fund's prospectus.
Scottrade will assess a short-term redemption fee (detailed information on our fees can be found in the Explanation of Fees (PDF)) upon the sale or exchange of a no-load position held fewer than 90 days, with the exception of the Rydex, Guggenheim, ProFunds and Direxion families of funds, which are intended for short-term traders. Mutual fund orders placed by Scottrade® brokers will be subject to an additional $20 handling fee.
With regard to No-Loads that are not in the NTF program, Systematic Purchase/Redemptions will be charged $2 per occurrence. Mutual fund purchase and exchange orders at Scottrade must be the greater of $100 or the fund's minimum initial investment. You must have sufficient settled funds in the account to meet both the applicable minimum and cover transaction fees and other fees prior to placing the trade.
Fund management fees apply for all load, no-load and NTF mutual funds.
*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 record keeping, shareholder or SEC Rule 12b-1 fees. For more complete information on any mutual fund offered through Scottrade, refer to the fund's prospectus. Please read it carefully before you invest or send money.
**The transaction fee is waived for buys and sells of Class B and C shares. Mutual Fund exchanges of B and C shares will be subject to the $17 transaction fee.
Note: Broker-assisted no-load and NTF mutual fund orders are an additional $25. In addition to the commissions above, NTF and no-load funds shares not in the NTF program that are purchased from Scottrade and are held fewer than 90 days will be charged a short-term redemption fee. Exceptions to Scottrade's short-term redemption fee are: Rydex, ProFunds, and Direxion Fund families, which are intended for short-term traders. With regard to no-loads that are not in the NTF program, systematic purchase/redemptions will be charged $2 per occurrence. Mutual funds purchase orders at Scottrade must be the greater of $100 or the fund's minimum investment.