• Go to page :
  • 12 3
  • Text Only
There is a good thread on possible uses for MOTIF at http://www.fatwallet.com/forums/finance/1268757/m17727786/#m1772...

Some issues I ran into at Motif:

- you can't buy an individual stock for $4.95, you can only make your own 1-stock Motif and buy that for $9.95
- you can then sell the individual stock out of the Motif for $4.95, rather than selling the Motif entirely
- OTC stocks and closed end funds are not supported at all, only listed stocks and ETFs/ADRs

xerty said:   Some issues I ran into at Motif:

- you can't buy an individual stock for $4.95, you can only make your own 1-stock Motif and buy that for $9.95
- you can then sell the individual stock out of the Motif for $4.95, rather than selling the Motif entirely
- OTC stocks and closed end funds are not supported at all, only listed stocks and ETFs/ADRs


Do you have to leave a fractional share in the Motif then, or can you empty it out completely and still leave the Motif 'active' for future $4.95 buys? (just looking into the possibility, since for individual stocks I'd rather buy where I can use a limit order).

Yes, CEFs aren't supported. On the other hand, you can add ETNs.

gaffer said:   Do you have to leave a fractional share in the Motif then, or can you empty it out completely and still leave the Motif 'active' for future $4.95 buys? (just looking into the possibility, since for individual stocks I'd rather buy where I can use a limit order).
I'll confirm for sure next week when I sell my first motif whether it still exists when sold entirely, but I'd guess no. I was able to see that buying or selling the individual stocks inside the motif were done as market orders, not limit orders. I don't think Motif supports limit orders at all.

I was actually talking about that theoretical 1-stock Motif. Lets say you have this 1-stock Motif with 10.25 shares of AAPL. I'm pretty sure that selling the Motif itself closes it out completely, but lets say you sell 10 shares of AAPL leaving the fractional .25 in. I guess in theory, that counts as a $4.95 trade? And then you can buy (and subsequently sell) additional individual stocks at $4.95. So in effect that Motif can act as a 'placeholder' for buying/selling individual stocks for $4.95?

Its really more of a 'What If' sort of semi-intellectual exercise. Obviously, using Market Orders is far from the ideal situation when dealing with individual trades and that is where your other brokerage that offers Limit orders comes in.

gaffer said:   I was actually talking about that theoretical 1-stock Motif. Lets say you have this 1-stock Motif with 10.25 shares of AAPL. I'm pretty sure that selling the Motif itself closes it out completely, but lets say you sell 10 shares of AAPL leaving the fractional .25 in. I guess in theory, that counts as a $4.95 trade? And then you can buy (and subsequently sell) additional individual stocks at $4.95. So in effect that Motif can act as a 'placeholder' for buying/selling individual stocks for $4.95?

Its really more of a 'What If' sort of semi-intellectual exercise. Obviously, using Market Orders is far from the ideal situation when dealing with individual trades and that is where your other brokerage that offers Limit orders comes in.

Yes, I can confirm a motif with only fractional shares still persists. So your example of using Motif as $5 marketable trades (after the first $10 one) should work. I wouldn't envy the wash sales on fractional holdings if you trade regularly however.

Thanks xerty.

Btw folks, looks like that bonus is still active.

Got the $150 bonus. It took a month and a half as promised. It happened automatically.

$150.00 bonus still alive...

For some reason I can't find the offer on the website...
gaffer said:   $150.00 bonus still alive...
  


Just a quick reminder – you have to make the 5 trades within 45 days for the max $150 bonus. I was actually using it as an investment account and only made three motif trades in the promo window, so I only got $75.

You can get a $100 bonus after only one trade if someone with a Motif account refers you. The person doing the referring also gets $100.

xerty said:   
gaffer said:   I was actually talking about that theoretical 1-stock Motif. Lets say you have this 1-stock Motif with 10.25 shares of AAPL. I'm pretty sure that selling the Motif itself closes it out completely, but lets say you sell 10 shares of AAPL leaving the fractional .25 in. I guess in theory, that counts as a $4.95 trade? And then you can buy (and subsequently sell) additional individual stocks at $4.95. So in effect that Motif can act as a 'placeholder' for buying/selling individual stocks for $4.95?

Its really more of a 'What If' sort of semi-intellectual exercise. Obviously, using Market Orders is far from the ideal situation when dealing with individual trades and that is where your other brokerage that offers Limit orders comes in.

Yes, I can confirm a motif with only fractional shares still persists. So your example of using Motif as $5 marketable trades (after the first $10 one) should work. I wouldn't envy the wash sales on fractional holdings if you trade regularly however.

To get the $150 bonus for new accounts with Motif Investing, you must make 5 "motif trades" within 45 calendar days of funding the account with at least $2,000 within the first 10 days of account opening. Does anyone know if Motif Investing reports the bonus on the 1099 form?

Neidman said:   Try here: https://www.motifinvesting.com/offers/150trade_090112
Thanks!

One limitation of motifinvesting is that you can't buy and rebalance in the same transaction. At the very least they could allow customizing percentages between purchased stocks with new purchases.  

Can you fund with a credit card?

Neidman said:   You can get a $100 bonus after only one trade if someone with a Motif account refers you. The person doing the referring also gets $100.
  
By following your advice, don't you net just $80 ($100 - 2*$10)???

While the $150 offer nets you $100 ($150 - 4*$10 - $10). Of course, this stragegy is for people like me who only want to churn for the money. Maybe after trying it I might find a purpose to having the account, and actually use it.

noelandres said:   
Neidman said:   You can get a $100 bonus after only one trade if someone with a Motif account refers you. The person doing the referring also gets $100.
  
By following your advice, don't you net just $80 ($100 - 2*$10)???

While the $150 offer nets you $100 ($150 - 4*$10 - $10). Of course, this stragegy is for people like me who only want to churn for the money. Maybe after trying it I might find a purpose to having the account, and actually use it.

  
noelandres said:   
Neidman said:   You can get a $100 bonus after only one trade if someone with a Motif account refers you. The person doing the referring also gets $100.
  
By following your advice, don't you net just $80 ($100 - 2*$10)???

While the $150 offer nets you $100 ($150 - 4*$10 - $10). Of course, this stragegy is for people like me who only want to churn for the money. Maybe after trying it I might find a purpose to having the account, and actually use it.

  
I think, if you play it right, you net $200 as a total bonus: +$150 (for the 5 trades), +$100 (for the referral), -$50 (for the five trades) = $200. Since the minimum to get the bonus is $2,000, that's an immediate 10% return. I believe that you need to hold the motif for a minimum of 45 days, however it may be wisest to hold it for a year in order to trigger long term capital gains.



Disclaimer: By providing links to other sites, FatWallet.com does not guarantee, approve or endorse the information or products available at these sites, nor does a link indicate any association with or endorsement by the linked site to FatWallet.com.

Thanks for visiting FatWallet.com. Join for free to remove this ad.

TRUSTe online privacy certification

While FatWallet makes every effort to post correct information, offers are subject to change without notice.
Some exclusions may apply based upon merchant policies.
© 1999-2014