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Best way to DCA a stock that doesn't offer a DRIP plan?
05-09-2010, 10:44 AM
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#1
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Recycles dryer sheets
Join Date: Aug 2004
Posts: 85
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Best way to DCA a stock that doesn't offer a DRIP plan?
Hi everyone,
I'm looking to regularly buy a certain stock, but this particular stock does not offer a DRIP plan. Any cost effective suggestions out there?
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05-09-2010, 11:44 AM
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#2
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Mar 2003
Posts: 18,085
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I usually just let cash accumulate and buy on dips. I buy bigger chunks and eat the commissions, which are pretty low in any case. Alternatively, I suppose you could get one of those Wells accounts that has 100 free trades.
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05-09-2010, 01:58 PM
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#3
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Thinks s/he gets paid by the post
Join Date: Jul 2004
Posts: 1,321
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Try BuyandHold brokerage. $16 per month for unlimited trades (market orders only, three trading windows during the day). Free dividend reinvestment. Or $7 per month with two free trades.
https://www.buyandhold.com/
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05-09-2010, 02:51 PM
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#4
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Recycles dryer sheets
Join Date: May 2007
Posts: 444
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 Quote:
Originally Posted by brewer12345
I usually just let cash accumulate and buy on dips. I buy bigger chunks and eat the commissions, which are pretty low in any case. Alternatively, I suppose you could get one of those Wells accounts that has 100 free trades.
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I suppose we just had a dip the past 2 days, right? Or is it dipping more?
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05-14-2010, 02:36 PM
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#5
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Thinks s/he gets paid by the post
Join Date: Dec 2005
Posts: 1,228
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Quote:
Originally Posted by grumpy
Try BuyandHold brokerage. $16 per month for unlimited trades (market orders only, three trading windows during the day). Free dividend reinvestment. Or $7 per month with two free trades.
https://www.buyandhold.com/ |
Seems like a weird concept; an "all you can eat" monthly charge would benefit frequent traders much more than buy and holders. People who don't trade much would surely be better off not paying a fee in months that they don't trade.
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05-14-2010, 04:32 PM
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#6
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Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Join Date: Jun 2005
Posts: 10,252
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A problem is that you will probably not be able to buy non-integral shares without cost. There is sharebuilder and folioinvesting.com that do this kind of thing for stocks. Lots of fund companies will do it for funds for free.
Otherwise, go to a free broker like WellsFargo.
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05-15-2010, 07:50 PM
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#7
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Thinks s/he gets paid by the post
Join Date: Sep 2007
Posts: 1,214
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Etrade lets you do that. No commissions on the pseudo-drip, either.
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