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re: If you had 5-10k to invest and you were in college now..
Posted on 4/3/13 at 8:02 pm to LSUTOM07
Posted on 4/3/13 at 8:02 pm to LSUTOM07
quote:
If my brokerage offers a drip what is the difference between going through the company and going through the brokerage account?
Usually Fees (through a broker, you pay the DRIP Fees, and the Broker Fees). Through an online broker, you have the advantage of buying/selling stocks at current market price, using options, calls, puts, etc.
A DRIP generally doesn't purchase your shares until 5 Business Days after they received your funds.
You can place a Day Limit order (an order to sell shares when and if the stock reaches a specific price on a specific day) or a GTC (good till Cancel order). But most DRIPs have a ridiculously high fee for this.
Posted on 4/3/13 at 8:48 pm to Vols&Shaft83
I dont know how other brokerages are but with E-trade I just buy, set on a drip and its just $7.99 one time fee and all additional shares added via the DRIP are free so thats awesome.....I hate how real DRIPs via the company charge you per share etc, its silly go with Etrade. Their mobile app is nice too
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