I want to open a Mutual Fund account online, can I withdraw my money at any time without penalty?

do NOT buy Mutual Funds!! Instead, buy what is called an Exchange Traded Fund. Loosely similar but VFINX and SPYDER both follow the S&P 500. That means you will NEVER do worse than "the market". My first purchase was an ETF. I bought $1000 of VFINX. It had a 10% rate of return. Mutual funds, on the other hand get only about 6%, some even only 4%. Bump that! Spyder gets exactly what VFINX does. Vanguard (the V in Vfinx) offers several types of funds that parallel the market. But after a while, even a 10% r.o.r. is not good enough. I got into oil and my returns went into triple digits.

With Exchange Traded Funds, which buy and sell exactly like stock, there is no penalty for selling them. There are no fees either, other than the 7 dollar charge that Scottrade charges you for any purchase, no matter how large or small.

Depends on the fund, read the small print before you open the fund-

read the terms and conditions carefully..they will give in it for how many days minimum u will have to keep ur money invested..u will get a lesser return but u will certainly get something more than ur principal amount.

Yes. However, some mutual fund companies charge fees if there is "excessive" trading on the account. So you have to read the contracts carefully.
Early withdrawal penalties apply to CD's and IRA's.

Some you can but if you put money in a mutual fund to get any good return it must stay for a long term. If you want to get a good return with a lower risk there is better ways all tho mutual funds are one of the better ways but, now i have learned something even better that you can be given security in return for the giving of your money. banks and mutual funds and most other investments do not give you any type of security.
P.S. CD's are not what i am talking about the pay too low 3 - 5 % I am talking secured with 8 - 15 % return much higher return
you can email me about your question at ricama100@hotmail.com

You did not give us enough information to provide a concise answer to your question. Some mutual funds have a front end load. You will forefit the load in any case with these funds when you withdraw the funds.

Other no load funds have an early withdrawal penalty if the funds are withdrawn in the first 30 days, 90 days, etc. It is normally about 2%. But many no load funds have no early withdrawal penalty at all. Exchange traded funds can be bought and sold at any time with only the brokerage comission as a penalty. So the answer is that it depends.

Depends on the mutual fund company. If you supply me with the specific investment you are considering I can answer your question more accurately. Please read my profile and send me an email.