Sharebuilder FAQ and Promotion thread

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TheGMan said: Costco Promotion

$90 for Executive Members / 25% transaction charge rebates
$70 for Regular Members / 10% transaction charge rebates

Fine print notes that offer ends 1/25/09 and you must complete your first stock purchase by 2/25/09.

About how much are memberships? I'm on Sam's Club but wanted to know if it was worth it to switch to Costco just for this promotion. I make seven trades/month so even 25% wouldn't save me a month's salary.

Thanks for the help...

Just got this e-mail. Free $25.

Just got this e-mail.

$100 bonus for transfering all assets from another brokerage. Great for those who have a Schwab First Invest card and just have cash sitting in the account. Must make a full transfer of at least $500.

Before risking swimming into a weir, I have a few questions for the wise.

1.) Does the Costco number have to be in your name? If your spouse was the account holder, would just the number suffice?

2.) What exposure does buying a $1 stock and forgetting about it incur? Could Sharebuilder change their fee policy and start charging the account?

3.) Assuming a non-dividend-earning stock was purchased, would there be any tax headaches down the road?

4.) If the account does incur a fee, how would it be assessed? If my linked checking account was closed, would I still be liable (i.e. could I be "caught")?

I suppose a call to a consumer representative is in order, but I hope those that have had accounts open since this thread was started could voice their opinion. Hopefully I'll eventually be able to get to the other side of the Q&A game. Thanks in advance.

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