As commissions can differ widely, compare fees charged by several online brokers before making a decision to open an account. Some discount brokers charge zero commissions on fund purchases, but will penalize you if you sell a load fund within 90 days of purchasing it. Brokerage firms make money on the trailer fees paid out by load fund companies for providing advice and service to fund holders. Ninety days is usually the minimum time-period before a trailer fee payment is made. Fees for switching, too, are worth comparing.
Some brokers charge fees to investors who switch between funds in the same fund family.
Others don't charge, as long as both funds have a similar load structure and management fee. As with all back-end and deferred load funds, you will be penalized if you redeem earlier than scheduled. If you purchase no-load funds, however, you do not have to contend with early redemption penalties. I can't see why. Collins has a point.