NEW YORK -- The Wall Street Journal recently suggested ShareBuilder Corp., which has a heavy credit union clientele, as one alternative for those looking to invest a couple hundred dollars.
In the Jan. 15 issue of WSJ, a reader asked if there were any online brokers that work with people that have "only a couple hundred dollars" in their account and "don't charge heavy fees for infrequent traders." The publication recommended ShareBuilder for the $4 or less trade and no minimums or account maintenance fees if a user signs up for an automatic investment plan. ShareBuilder serves more than 100 credit unions.
FirstTrade Securities Inc., TradeKing, and Zecco Holdings Inc. were also recommended.
In November 2007, ING Direct USA bought ShareBuilder for $220 million. Seattle-based ShareBuilder provides online brokerage services to credit unions, individual investors, and other financial institutions. In April 2007, it partnered with Wal-Mart Stores, Inc. to offer low-cost investment services to the retail giant's customers and employees.
--msamaad@cutimes.com
