So with this ShareBuilder thing on the go now, I’ve been reading up a lot on the commission fees for each “trade” I make.
The fee is $9.95 for a “Like, right now” trade and $4.00 for a scheduled “Tuesday” trade.
I picked out 7 stocks for my initial investment next week. I’m not 100% certain but I think I’ll get dinged the $4.00 commission fee on each one of them so… 28 bucks off the top.
This is why I didn’t go the “Like, right now” route even though it’s killing me that the money is sitting idle right now (and my stock picks are going up…) — that would have cost like $70.
From the unsettling stuff I’ve been reading over the last day or so, it seems Sharebuilder can be one of the higher fee options out there… and, yeah, when we’re talking maybe $100 investments, a $10 fee is pretty harsh.
But then I looked at what I’m paying in fees on my 401k…
I’m not second guessing myself anymore.
This is a good route to be on.