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ShareBuilder to Lower Commissions March 1st
Posted By Jim On 02/28/2013 @ 10:27 am In Investing | 2 Comments
I just received an email from Sharebuilder , now owned by Capital One, and it seems one benefit of the ING Direct acquisition by Capital One  is that commissions on trades at Sharebuilder will be going down on March 1st. A bit.
Before the change, Sharebuilder Basic customers were paying $9.95 a trade while Sharebuilder Advantage customers paid $7.95 a trade. While not expensive from an absolute perspective, there are plenty of brokers who charge more, it’s a lot compared to many discount brokers. I use TradeKing and they’ve only charged $4.95 a trade for quite some time now. You can get even cheaper trades from OptionsHouse  at $3.95 a trade.
On March 1st, online trades will go to $6.95 for real time online trades. For Basic customers, it’s a $3 drop; only $1 for Advantage customers. This is still higher than the $4 they charge for automatic investments.
If you’re looking for a discount broker , Sharebuilder, even with the lowered rates, wouldn’t be on my list. I’ve never used OptionsHouse so I can’t say much about them but TradeKing has always treated me well. If you qualify for Vanguard’s Voyager Select ($500k-$1mm in invested assets) or Flagship ($1mm+), you get $2 trades (Flagship customers get 25 commission free) – but that’s not exactly a fair comparison.
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 Tweet: http://twitter.com/share
 Email: mailto:?subject=http://www.bargaineering.com/articles/sharebuilder-drops-commissions.html
 Sharebuilder: http://www.bargaineering.com/articles/r/sharebuilder.php?tag=SharebuilderReview
 ING Direct acquisition by Capital One: http://www.bargaineering.com/articles/capitalone360-review-ing-direct-capital-360.html
 OptionsHouse: http://oc.cardsynergy.com/t/?cr=4832&c=22986210&aid=105970&sid=5944&last_updated=1337028796
 discount broker: http://www.bargaineering.com/articles/best-online-discount-brokers.html
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