NEW YORK — For those looking to invest a couple hundred dollars with the help of an online brokerage firm, the Wall Street Journal suggested ShareBuilder Corp., which has a heavy credit union clientele.
In today's issue of the Journal, 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 its $4 or less trade, no minimums or account maintenance fees if a user signs up for an automatic investment plan. 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. Share Builder serves more than 100 credit unions.
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