Sharebuilder has an awesome automatic investment program with 7 dollar commissions. This is the best way to build a portfolio if you only can afford to invest a little at a time. The web interface makes transferring money to and from your banking account very easy. The money market any balance in your account is put in has a pretty decent rate of return. There is an easy to understand breakdown of your portfolio. If you want an immediate market order, you can purchase stock anytime for 15 dollars. There is no account minimum balance and no inactivity fees.
The draw back is that automatic stock investments are only purchased on Tuesdays, and you won't know the exact price you bought at until after it has been purchased. Also they charge extra for some premium services like a gain/loss reporting service.
Overall, I would recommend this broker to any novice or part-time investors.
Sharebuilder has an awesome automatic investment program with 7 dollar commissions. This is the best way to build a portfolio if you only can afford to invest a little at a time. The web interface makes transferring money to and from your banking account very easy. The money market any balance in your account is put in has a pretty decent rate of return. There is an easy to understand breakdown of your portfolio. If you want an immediate market order, you can purchase stock anytime for 15 dollars. There is no account minimum balance and no inactivity fees.
The draw back is that automatic stock investments are only purchased on Tuesdays, and you won't know the exact price you bought at until after it has been purchased. Also they charge extra for some premium services like a gain/loss reporting service.
Overall, I would recommend this broker to any novice or part-time investors.