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
To complete this exchange trade, please take the steps outlined below.
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On the
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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
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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
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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.
Mutual Funds are investments that pool the funds of investors to purchase a range of securities to meet specified objectives, such as growth, income or both. Investors are reminded to consider the various objectives, fees, and other risks associated with investing in Mutual Funds. Please read the prospectus accordingly. This communication is not to be construed as a recommendation, solicitation or promotion of any specific fund, or family of funds. Interactive Brokers may receive compensation from fund companies in connection with purchases and holdings of mutual fund shares. Such compensation is paid out of the funds’ assets. However, IBKR does not solicit you to invest in specific funds and does not recommend specific funds or any other products to you. For additional information please view our Mutual Fund Product Listings.
Mutual funds trade once per day. Each fund has a cut off time, after which an instruction to buy or sell cannot go through until the next day. Any attempt that you make to cancel or modify an order will be considered a request to cancel or modify that order. We will do our best to meet your request but cannot guarantee that your order can be changed or cancelled, even where the request is submitted before the cut off time. We shall not be liable to you if we are unable to cancel or modify an order. You remain responsible for executions even where you have made a request to cancel or modify an order.
Additional Resources
Learn About Mutual Funds in Trader Workstation at IBKR Campus