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I opened a ShareBuilder account after I read a post from My Money Blog about the bonuses that you can get from them. I signed up, put in a $50 code, and went researching to buy a stock.

I wanted to buy Safelink (Symbol: SFLK) as they were a Tech stock, and were only priced at 9 cents a share. The problem was (as is the biggest problem I have with ShareBuilder), the $4 stock trades only occur on Tuesday. I set the account up on Monday, and the money did not clear until after Tuesday. Needless to say the stock jumped up to over 25 cents a share (what I would have sold it for the next Tuesday).

I then did some more research and found an oil Tanker company named Frontline (Symbol: Fro). The thing I loved about this company was that it gave $2.50/share dividends every quarter. My $50 investment which would buy me ~1.5 shares of stock would make $15 in one year. That is a monsterous 30% return on my money. Here comes the kicker: Oil prices have gone down, as have the stock price. I have lost only about $2 (plus the $4 for the trade), but hopefully the company keeps up the big dividend payout.

I will let you guys know how the stock is doing, and also when I get my FREE money.

Here are some codes to get you started in ShareBuilder. I have been told you can use multiple codes on different new accounts, but space them out. If you sign up for these too fast, they will find out and cancel all your orders. Also, after you set up all these accounts, you can call (or there is a form online) to combine the accounts. I plan on opening another account after my first $50 clears. I will probably use the $40 plus the magazine subscription plus the book code. I can always eBay the book later, or give it away to a lucky reader.

Table courtesy of Blueprint for Financial Prosperity

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