SilverKendo
New Member
Hello all,
I guess this is directed to the American members because I believe the service is only in the States at the moment. Has anyone tried the online discount brokerage Loyal3? It is completely commission free to make trades. There are a few catches; they do batch trades so you don't get the benefit of market timing, it can take a few days from the time they debit your checking account to the time they make the purchase, limited selection of stocks, etc. I signed up and will be treating it as a platform for Dividend Reinvestment Plans since they have the stocks I was considering DRPing anyway. Even DRPs now have fees associated with them but this system seems to circumvent those. They also offer some IPO and Follow-ons which is pretty cool. Like a DRP you can invest monthly and purchase fractional shares. This isn't a full service or even discount brokerage firm really, but it is an interesting tool to help folks get into stocks and as in my case facilitate setting up a DRP. Anyone have any thoughts? Anyone use this service yet?
Cheers,
Chris
I guess this is directed to the American members because I believe the service is only in the States at the moment. Has anyone tried the online discount brokerage Loyal3? It is completely commission free to make trades. There are a few catches; they do batch trades so you don't get the benefit of market timing, it can take a few days from the time they debit your checking account to the time they make the purchase, limited selection of stocks, etc. I signed up and will be treating it as a platform for Dividend Reinvestment Plans since they have the stocks I was considering DRPing anyway. Even DRPs now have fees associated with them but this system seems to circumvent those. They also offer some IPO and Follow-ons which is pretty cool. Like a DRP you can invest monthly and purchase fractional shares. This isn't a full service or even discount brokerage firm really, but it is an interesting tool to help folks get into stocks and as in my case facilitate setting up a DRP. Anyone have any thoughts? Anyone use this service yet?
Cheers,
Chris