SureTrade For My Child
Written: Apr 12 '01
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Pros: Easy stock purchasing and trades-$7.95
No minimum deposit
Cons: Can be slow and negligent to customer needs.
The Bottom Line: Great for the beginning investor, custodial and joint accounts. Easy cheap and relatively quick purchases and trades.
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| Renee_S.'s Full Review: SureTrade |
Last year for Christmas, grandpa and grandma sent my young son $100.00. We decided instead of buying more toys and video games, that we would invest the money in a stock account.
I checked online with some of the major brokerage firms- they all wanted from $500.00 to $1,000.00 to open an account. I just wanted to buy a few cheap shares and let them sit in a custodial account for my son.
SureTrade was the best choice for us. They asked for no minimum deposit of funds, and it was easy to go online and open an account with them. They offer all types of online accounts- Joint, individual, and custodial for children. At the time we opened our custodial account SureTrade was giving away free teddy bears. Our bear arrived in the mail pretty fast, within a week.
When I opened my son's custodial account I purchased 4 shares of stock. I was charged only $7.95 to make the purchase. My plan was just to let the shares sit for a year and see what happened- would they go up or down- I used no margins or made any trades. These options are available for those who do wish to use them.
SureTrade is owned by U.S. Clearing, and they send the monthly or bi-monthly dividend statements and yearly tax forms. I have had some proxys arrive also. My statements do arrive regularly and it is easy to track dividends either online or by the written statements.
My daughter opened an individual account early this year with SureTrade. She has complained of slow trades and postings. She is more active in trading than I have been, and uses the mail in option to send in checks and money orders instead of putting her credit card number online.
My daughter told me sometimes it can take a few days for a trade or purchase to show up or be deducted from her account.
I think the biggest advantage is the $ 7.95 charge for a purchase or trade. You can purchase or trade as much as you choose on one transaction and only pay the one fee. This makes stock buying and trading affordable for the small investor. Any one with as little as $50.00 can jump right in and start purchasing and trading stocks.
I personally have had very little problems with SureTrade. I am not actively trading, just purchasing and letting the shares sit, so I may not be able to be as objective as those who actively trade. I would recommend SureTrade to anyone who is just starting out and just wants to get their feet wet in purchasing and trading stocks. It is affordable, and very easy.
Recommended:
Yes
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Epinions.com ID:
Renee_S.
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Location: Lake Park, Georgia
Reviews written: 100
Trusted by: 73 members
About Me:
Many years writing in the marketing and entertainment fields. Now quietly retired.
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