Mutual Fund Exchange Trades
Instructions
Most US mutual fund companies permit existing shareholders to "exchange" (e.g.: swap, switch, convert) existing shares of one specific fund, for shares of another fund within that same fund family, in a single transaction called an "Exchange".
In order to do so, you must have a long mutual fund position in your account. You will also need to be using the BETA TWS version and must be on the Classic TWS layout.
To complete this exchange trade, please take the steps outlined below.
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On the TWS Login screen, click the More Options button in the bottom right corner.
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Click the Version drop-down menu and select BETA.
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Enter your login credentials on the left-hand side and press Login.
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Once you have successfully logged into TWS BETA, select the Classic TWS tab from the bottom left corner.
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Navigate to the Portfolio tab.
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Right-click on the Mutual Fund you would like to exchange and press the red Exchange button.
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Enter the new mutual fund ticker in the Exchange to fund column.
Please note, this column may be collapsed by default. To expand it, highlight your curser over the end of the column and click and drag outward. Once you have done so, you may select the File button in the top right corner followed by selecting Layout Settings > Save Settings. This column will now be expanded each time you log into TWS.
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Once you have typed your ticker symbol in the Exchange to fund column, press Transmit on the right-hand side to submit this order. Please note that you will only be permitted to exchange funds that are within the same fund family.
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An Order Confirmation pop-up will appear on your screen with a summary of this order. Please read the order confirmation details carefully before proceeding. Press Override and Transmit to complete this order. Press Cancel if you would like to cancel this order.
You may additionally select the "Don't display this message again" checkbox if you would no longer like the Order Confirmation pop-up to appear prior to submitting an order.
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An Order Message will appear on your screen with additional information on filling your order. Press OK.
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On your portfolio page, a purple box will appear under the Status column indicating that this order has been submitted but not yet transmitted to the fund.
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To check on the status of this order, click the Pending (All) tab.
Please note, Mutual Fund Exchange orders cannot be modified. To edit an order, you must first cancel and then resubmit by taking the steps outlined above.
Additional Resources
Learn About Mutual Funds in Trader Workstation at IBKR Campus