+- Dividend Growth Forum (http://DividendGrowthForum.com)
+-- Forum: Dividend Growth Investing (http://DividendGrowthForum.com/forumdisplay.php?fid=15)
+--- Forum: My Portfolio (http://DividendGrowthForum.com/forumdisplay.php?fid=14)
+--- Thread: Scottrade for dividend reinvesting? (/showthread.php?tid=587)
Scottrade for dividend reinvesting? - Hasted - 06-07-2014
Hey guys fairly new to trading very happy I found this website. I've been playing with penny stocks since September of last year, I've come to find out that this wasn't for me. But new question is should I stick with scottrade? There dividend reinvesting program kinda bothers me I feel like I will be losing out on compounded interest since they won't reinvest until you have enough in the dividend account to purchase a complete share. Am I right should I change brokers?
RE: Scottrade for dividend reinvesting? - Kerim - 06-07-2014
Hello Hasted -- welcome to the site! I don't have any personal experience with Scottrade, so can't answer directly. But I am surprised to learn that they do not have free automatic reinvestment with fractional shares. If your account is still on the smaller side, I'd probably head over to a brokerage that offers that.
RE: Scottrade for dividend reinvesting? - Hasted - 06-07-2014
(06-07-2014, 04:56 PM)Kerim Wrote: Hello Hasted -- welcome to the site! I don't have any personal experience with Scottrade, so can't answer directly. But I am surprised to learn that they do not have free automatic reinvestment with fractional shares. If your account is still on the smaller side, I'd probably head over to a brokerage that offers that.
Kinda what I was thinking thanks Kerim
RE: Scottrade for dividend reinvesting? - Jimbo - 06-08-2014
Everyone has their favorites. I use and like TD Ameritrade. I find the people to be quite friendly and helpful. Trades are $9.95 per. As for Dripping, as long as the company allows, it is done even in small fractions at no cost.
Check other posts here you will find several other company's with better pricing. I thought it was Scott's that allowed you to accumulate funds and apply as you may see fit.
Jim
.
RE: Scottrade for dividend reinvesting? - EricL - 06-08-2014
I use Schwab and have no complaints. $8.95 per trade and free dividend reinvestment for all U.S. companies.
RE: Scottrade for dividend reinvesting? - Dividend Watcher - 06-08-2014
I wouldn't use a brokerage that didn't allow free reinvestment of dividends in fractional shares. The small positions as you're building your need that little extra bit of compounding the most.
I'd be looking. Vanguard and Fidelity I believe also have commission schedules lower than TDAmeritrade and E*Trade and allow fractional share reinvestments. Don't take my word though since I don't have accounts there.
RE: Scottrade for dividend reinvesting? - Robandcindy2 - 06-12-2014
(06-08-2014, 08:51 PM)Dividend Watcher Wrote: I wouldn't use a brokerage that didn't allow free reinvestment of dividends in fractional shares. The small positions as you're building your need that little extra bit of compounding the most.
I'd be looking. Vanguard and Fidelity I believe also have commission schedules lower than TDAmeritrade and E*Trade and allow fractional share reinvestments. Don't take my word though since I don't have accounts there.
I agree. This came up with a quick Google search:
http://online-stock-trading-review.toptenreviews.com
Vanguard Schedule:
https://personal.vanguard.com/us/whatweoffer/stocksbondscds/feescommissions