I have used Sharebuilder for investing and this is my experience with them. When I was new to the market and I was still learning. I used the services of Sharebuilder and Sogotrade (which was called SogoInvest back then) during my days as a beginner. I didn't have much money to begin with, I was 16 years old and working in my part time job at a pizzeria and going to high school. Sharebuilder allowed me to build a nice startup stock portfolio and it allowed me to select and diversify where my money was going into.
I would allow Sharebuilder to deduct $120 from every paycheck I received from my part time job and once I finished high school, I now had a nice portfolio of several thousand dollars. I had put most of it in energy stocks and they were up really good, I bought XOM shares at $45 to $55 per share and 2 years later they were in the $65 - $75 range. After I left high school, I got more educated with my investments and I began doing options trading and trading intraday, and I had to go elsewhere for my short term day trading, but other than that, Sharebuilder was a good place to start for me.
Right now I have 5 accounts with Sharebuilder, 4 of them are Custodial accounts which I opened for my nephews and nieces, every time I get paid I contribute money into their accounts, I let them pick the stocks they want, it is an educational experience where I teach them about the world of investing. The other 1 is a Retirement account where I deposit money every time I am paid and I select where my money will go for the long term.
By the way, Sharebuilder was purchased by Capital One bank and as of recently their stock trade commission rate is $6.95 per trade , it is not $9.95 anymore.
This review is the subjective opinion of an Investimonials member and not of Investimonials LLC
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