Author Topic: Cancelling Vanguard mutual fund orders?  (Read 1504 times)

Fields of Gold

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Cancelling Vanguard mutual fund orders?
« on: March 17, 2018, 08:44:26 PM »
Are investors allowed to manually cancel a mutual fund order at Vanguard?  Say that you place an online order to buy/sell a mutual fund at 2 PM eastern time on a market day.  Then a little later you change your mind.  Are you allowed to cancel it? 

For comparison: mutual fund orders at Fidelity can be easily cancelled online up until around 3:55 PM (or even 3:59 PM, if it transmits in time).  I heard that Vanguard did not allow this a few years ago but don't know if they've since changed?

secondcor521

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Re: Cancelling Vanguard mutual fund orders?
« Reply #1 on: March 17, 2018, 08:58:09 PM »
I don't believe so.

Parenthetically, the general idea that Vanguard has about mutual funds is that you buy and hold them for a long time.  I think if you asked Jack Bogle, he'd probably say that there really shouldn't be anything that happens in an hour or two that should change your mind about a mutual fund purchase (or sale).

If your thinking is that short term, perhaps you would be better suited with a broker who does trades and/or buying ETFs, which can be done intraday.