I have a brokerage account with ameritrade with the balance of 1600$(stock value). I dont trade anymore, and want to leave the account untouched. Is it good idea to move my account to sharebuilder to avoid inactivity fee? Is there any disadvantages in doing that or is there any better place to park my account? Thanks
posted: Dec. 16, 2004 @ 7:03p
Costco runs Sharebuilder? And btw, I don't see a problem with your idea. I currently have a little bit in there that I dont trade.
posted: Dec. 16, 2004 @ 7:36p
Scottrade also has no activity fees, and $7 transactions.
Does this mean that I have to buy/sell my stock? or Transfer my account to sharebuilder will treat as a transaction?
posted: Dec. 16, 2004 @ 8:34p
$50 and $75 Account Bonuses: $50 for Gold Star and Business Members or $75 for Executive Members will be deposited into your ShareBuilder account once your Costco membership number has been entered in the ShareBuilder account set-up process and verified. The $50 or $75 will post within approximately 4 to 6 weeks after the first transaction has occurred in each newly opened Individual, Joint and Custodial Account with ShareBuilder. ShareBuilder and Costco reserve the right to terminate this offer at any time. Not valid with any other offer. Offer excludes Individual Retirement Accounts and Education Savings Accounts. Offer expires 04/03/05.
Does this mean that I have to buy/sell my stock? or Transfer my account to sharebuilder will treat as a transaction? you can buy a $1 fractional share of a stock at sharebuilder and it will qualify
Senior Member - 2K
posted: Dec. 16, 2004 @ 9:27p
Anyone considering taking advanage of the these offers by making only a minimal investment should consider the tax implications. You will owe taxes on any dividends received, and a capital gains tax on your profits when sellig. While the sums are likely to be small, it may be a nuisance to report and pay. By picking a non-dividend paing stock, the burden of dividends may be avoided.
If you sell your position after you buy it, their commision is adjusted to leave you with 1 penny if the regular selling commision wold exceed the proceeds. This will leave you with a small capital loss that can be deducted from ordinary income.
Incidentally, has anyone with a small fractional share postion tried requesting paper shareholder communications? Do you receive the full annual report along with any coupons included in it?
posted: Dec. 16, 2004 @ 9:32p
ProfessorEd said: [Q] Incidentally, has anyone with a small fractional share postion tried requesting paper shareholder communications? Do you receive the full annual report along with any coupons included in it? yes, works fine - heres what you can get
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