problems with Sharebuilder
So it is now Tuesday, and anyone familiar with Sharebuilder knows that their $4 trades buy on Tuesday and my trade is still "processing," so it's quite likely that Sharebuilder is screwing me. Wonderful.
UPDATE: So right as I'm about to post this thing about Sharebuilder screwing me, what do you know, they send my trade through. Hooray!
Oh, I forgot to mention last time, some tips for any of you going with Sharebuilder:
-When you select the amount you want to invest for a particular stock, that amount is price you pay for the stock + the commission. For example, if I wanted to invest $200 in SPDR's (SPY), I would tell Sharebuilder to invest $204. Sharebuilder then takes out their $4 commission from the total amount. If you type in $200, you will only invest $196 after they take out the $4. Some people had problems with this when trying to invest their $50, because they would enter $46 thinking that a $4 commission would be added in afterwards. Remember, the $4 commission is part of the total.
-Sharebuilder is set up for automatic dividend reinvestment (meaning they will take any dividends you make from a given stock and reinvest them in the same stock). Go to Account Profile --> Dividend Reinvestment Preferences and make sure that Yes is checked.
-In my opinion, Sharebuilder is only good for long-term investments. Ideally you want to put some money down on a stock or ETF that you see having consistent growth over your lifetime. Sharebuilder works great if you just want to put some money into some stocks/ETFs and leave it for many years. If you want to be more of an active trader, look into one of the other discount brokers, because Sharebuilder will only let you trade for cheap on Tuesdays and the sell price is around $15.95.
UPDATE: So right as I'm about to post this thing about Sharebuilder screwing me, what do you know, they send my trade through. Hooray!
Oh, I forgot to mention last time, some tips for any of you going with Sharebuilder:
-When you select the amount you want to invest for a particular stock, that amount is price you pay for the stock + the commission. For example, if I wanted to invest $200 in SPDR's (SPY), I would tell Sharebuilder to invest $204. Sharebuilder then takes out their $4 commission from the total amount. If you type in $200, you will only invest $196 after they take out the $4. Some people had problems with this when trying to invest their $50, because they would enter $46 thinking that a $4 commission would be added in afterwards. Remember, the $4 commission is part of the total.
-Sharebuilder is set up for automatic dividend reinvestment (meaning they will take any dividends you make from a given stock and reinvest them in the same stock). Go to Account Profile --> Dividend Reinvestment Preferences and make sure that Yes is checked.
-In my opinion, Sharebuilder is only good for long-term investments. Ideally you want to put some money down on a stock or ETF that you see having consistent growth over your lifetime. Sharebuilder works great if you just want to put some money into some stocks/ETFs and leave it for many years. If you want to be more of an active trader, look into one of the other discount brokers, because Sharebuilder will only let you trade for cheap on Tuesdays and the sell price is around $15.95.
posted by Stu @ 5:01 PM
1 Comments:
At 11:08 AM,
Anonymous said…
Sell price $15.95? The price for a real time trade, buy or sell is $9.95 on Sharebuilder. It has only ever cost me $9.95 to sell shares on Sharebuilder.
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