ShareBuilder Educational Account Promotion: 3 Free Trades

Just a quick note.

If you want to use ShareBuilder (my ShareBuilder review) to open a custodial or educational savings account, you can get 3 free real time trades when using promotion code 3FREETRADES. This offer is only good for educational savings account and can’t be used in regular brokerage account as well. Currently, ShareBuilder charges $9.95 per real-time trade, so the promotion doesn’t seem to be a big deal (for example, you can get $60 if you are a Costco Executive member or $55 for Goldstar member). Furthermore, since I’d like to put a college savings account, like a 529 account, in the “set and forget” mode instead of trading actively, I will be more comfortable using low-cost, diversified mutual funds in such an account. That’s why I chose Ohio ColledgeAdvantage plan to reduce costs. Sure, ShareBuilder doesn’t charge commission for mutual fund trades, but you are limited to only ING funds. Therefore, you may not find the fund you need.

Anyway, I don’t think ShareBuilder is a good choice for college savings accounts. But if you think differently, then use the promo code to get three free real-time trades. This offer expires April 2009.

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