In an email that went out to customers on Wednesday, Capital One announced that it was lowering the cost of trades at its popular online broker Sharebuilder.
The price change takes effect on March 1, 2013 and it will slash the price of trades for Sharebuilder Basic customers from $9.95 to $7.95.
Sharebuilder Advantage customers had been paying $7.95 per trade before the price change, and they will also pay only $6.95 going forward.
Customers enrolled in the Sharebuilder Advantage program will continue to receive 12 free automatic investments (with the $12 monthly fee that ends up costing just $1 per trade). Basic customers don’t receive this discount and will pay $4 per automatic investment.
The lower trade price makes Sharebuilder more competitive with other discount brokers, but they still aren’t the cheapest.
I have a Sharebuilder account myself and I’ve been happy with them so far. They allow me to reinvest dividends for no extra charge (this is important to people who invest in stocks that pay dividends) and I can easily transfer money from my Capital One 360 savings account to fund my trades.
If you open a Sharebuilder account and deposit at least $5,000 by 12/31/2013 you will receive a $100 bonus. Click here now to get started and grab your $100.