I recently logged into my Sharebuilder account, just to see how my stocks were hanging on and I noticed that they have a new promotion. I guess they are trying to recruit customers from other online brokers because they are offering $50 to transfer your account to them.
My experience with Sharebuilder
I opened my first investment account at Sharebuilder about 5 years ago. I picked them because you can buy Stocks for $4
. I didn’t have much to invest, so I didn’t want to pay $100 a trade at some of the big brokerage firms or even $10 at some of the other online brokers. I must say that opening the account wasn’t much more difficult than opening a checking account. I had to fill in some forms and provide the typical information and then I was off. I just transferred over some money and started my investing career.
Over the last 5 years I must say that I haven’t had a bad experience with them at all and have been very happy that I started with them because of the next point…
You don’t need a lot of money at Sharebuilder
The really nice thing about Sharebuilder is that it is designed with the smaller investor in mind. They don’t have account minimums and are one of the few online brokers (that I know of) that will allow you to buy fractional shares. So, for instance, Berkshire Hathaway B Shares are trading over $3000/per share. So at Sharebuilder, you could invest $100 and still own part of Berkshire without being able to afford a whole share.
This was incredibly helpful for me since I didn’t have much cash to invest, but really wanted to get started.
Sharebuilder account transfer promotion
So, like I mentioned at the beginning of the post they are offering $50 if you transfer your account to them. If you really like your current broker, it may not be worth it to switch, but if you are looking for a new one – this might be the perfect opportunity to find a new online broker and get some extra cash as well.
To find out more about the promotion you can visit the Sharebuilder promotion page.
They are also running a promotion where they pay you $25 for opening a new account as well. Just enter in the promo code ‘25WO10‘.
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It should be mentioned that you need to transfer an account with $500 or more in it in order to qualify for the $50 bonus.
Thanks for pointing that out – I didn’t know that…
Another great brokerage company for those looking to “build their own mutual funds” so to speak is http://www.folioinvesting.com. You can build a portfolio of up to 50 stocks for a low monthly fee. Works well for those who are do it yourselfers and like to know what you own. You can also buy etfs and funds if that that’s your preference. Have had great experiences with them in the past.
Jay Peroni, CFP
Author of The Faith-Based Millionaire
http://www.jayperoni.com
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