Use Facebook to Buy Stocks
A company called Loyal3 plans to offer its stock trading program through Facebook in May. However, its not your typical brokerage account. First, the minimum investment is only $10. Second, there is no commission to buy. And third, no commission to sell. The trading program is called program a Customer Stock Ownership Plan, or CSOP.
Loyal3 is also planning on offering an IPO CSOP which allow investors to get in on new stock offerings with an investment as small as $200.
One thing that does surprise me is that they even allow the purchase of shares with credit cards. I thought that there was some sort of Federal Reserve Board restriction on that relating to Reg T. Maybe the rules have changed. Anyway, I hope the company gets more non-investors to become shareholders, since less than 20% of Americans own stocks. With a three click easy access through Facebook, that should happen.
For a free list of stocks that own shares of Facebook, go to WallStreetNewsNetwork.com.