Re:Robinhood: $0 commission stock brokerage
by wbl on Saturday December 14, 2013 @10:33PM
(#6908256)
The incremental minimum for buying the S&P 500 Vanguard fund is $100. Minimum of $1,000 in an account. Cost 0.05% per annum. That's not much of a barrier.
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Re:Robinhood: $0 commission stock brokerage
by maxerickson on Sunday December 15, 2013 @01:46PM
(#6910314)
That 0.05% is for accounts worth more than $10,000. It's 0.17% otherwise (so still low). Vanguard also charges accounts with less than $10,000 in a fund a $20 service fee (clear information about the availability of the lower cost 'Admiral' shares does not seem to be readily available, but it seems for index funds it may be the case that you have to maintain an account at Vanguard).