Thanks for the reply. So, lets see if I have this straight. I tell them how much i want to invest and then Sharebuilder charges me an initial fee for the investement. They deduct the amount that I would like to invest from my bank account. I also have the option of making monthly/quarterly/yearly investments. Is that the equvalent to buying and selling? Do i have to buy and sell continously?
Do not invest with Sharebuilder. You can only trade on Tuesdays at one exact time. Unless you are really want to do LONG term investing, which in your case with $500 will be harder, I do not advise Sharebuilder.
I've been with Sharebuilder since Sept 2001 and like them. There is no minimum you have to have in your account and it is either $4 per trade or $12 a month for up to 6 trades a month. You only invest what you want, I put money in the market only a few times a year, about every other month. You can just leave your Sharebuilder plan "off" until you want to invest and if you picked the $4 per trade you won't be charged anything until you do a trade. Yes you can only buy on Tuesdays but if you are investing in Blue Chips it's fine. You have to have your order in by Monday at 2 PST for a trade on the next Tuesday. Try them and once you get the hang of how it all works move up to one of the more expensive big boys if you want to. Bob