Interesting idea www.stockpile.com lol give their server a few minutes before checking them out though as server just crashed with cnbc love.
Basically quick and easy fractional share ownership like iTunes gift cards that you buy at Walmart etc.
The fees are provided on the site $1.99+3% for anything over $100 (eg loading credit)
+ 0.99c per share sale/purchase
$25 for TT to cash out or $5 a check.
I think it’s a great way to get people interested into purchasing shares.
Unfortunately only 14% of Americans hold shares directly (obviously a much larger percentage hold via 401k’s etc) and as such they miss out on the economic benefits of the capital markets.
It’s a bit late for this Christmas but want to teach a kid about maths/economics, go out and buy them a 0.1% share of Apple, Google, Microsoft and AT&T,Norfolk Southern, J&J and they’ll start paying attention quick smart to how the world works and why inflation=government theft.
Would be the best education for your child that $400 could buy.