My Stock Fund Review

Customer's Rating:   brokerage firms reviews


MyStockFund customer reviews: complaints, feedback from clients, pros and cons. Is the broker good and safe?


I use a fractional share discount platform called MyStockFund. I'm sort of happy with the service, but have some complaints about how they charge their monthly fees.  I wrote a review on Yelp, but think it would get better play here.  I'll be frank, my review is mostly negative, but I don't want to do harm to the company--rather I want them to rise to the challenge and fix some problems because it's an otherwise good, simple platform. Here's my review from Yelp:

Writing this to give an honest assessment, and in the hope that they will make some improvements to operations.  I really want their business to work well and flourish because they offer a great service, however, they have some operational hiccups that need to be addressed.

MyStockFund was exactly what I was looking for. A simple, online stock/ ETF/ bond fund, level-investment discount brokerage platform, that supports fractional share investing (at a better price than the [large] other fractional share investment platform). 

I've been using this service for about a year, and continue to use it because I have yet to find a better alternative. 


MyStockFund Brokerage Pros

  • Fractional share investing platform.
  • Online trading platform
  • Many stock/ ETF/ ETN/ Fund options to invest in
  • Good platform pricing
  • SIPC/FINRA member
  • Simple user interface
  • Easy to use

MyStockFund Brokerage Cons

  • Inconsistent billing pattern. In the year or so that I've been using them, I don't think I've seen a monthly fee transaction happen on the same day of the month yet.  I'm an analyst and management consultant by trade, and I track every single transaction. In terms of days between monthly fee transactions, I've seen everything from 14 days to 43 days.  If you're like me, when you're investing your money with a financial brokerage, you want to see consistency. I became very concerned when on 2 separate occasions I saw 2 transactions in the same month.  I dug a little deeper and realized that although their transaction log was showing 2 transactions, my credit card was only charged for one transaction in each of those months.
  •  
  • Customer service responses could really use some improvement; especially since we're talking about peoples' invested money. There were times when I sent an email or left a phone message, and it was never followed-up. Especially when I was following up for further clarification on issues such as billing.


I really want to give this business 5 stars, but until they can establish a more consistent billing procedure, I can only give them a 2.


MyStockFund Review: Trading Commissions

ProductPrice
Investing Plans
Basic Plan$5.98/month, includes 2 purchases. The Basic Plan offers a flat rate Plan Purchase commission of just $2.99 per order. The low monthly charge of $5.98 includes two Plan Purchases each month. There is no annual charge associated with the Basic Plan, and additional Plan Purchases cost just $2.99.
Flex Plan$59.99/year, $1.99/purchase. The Flex Plan has an annual charge of $59.99, and offers a reduced Plan Purchase commission of just $1.99 per order. There are no purchase requirements or minimums associated with the Flex Plan.
Diversified Plan$39.99/year, $0.99/purchase. The Diversified Plan has an annual charge of $39.99, and offers unlimited Plan Purchases for just 99 cents per order. The low monthly charge of $9.90 includes 10 Plan Purchases each month, and additional Plan Purchases cost just 99 cents.
Retirement Plans
IRA Flex Plan Plan $39.99/year, /purchase. The IRA Flex Plan has an annual charge of $39.99, and offers a reduced Plan Purchase commission of just $4.99 per order. There are no purchase requirements or minimums associated with the IRA Flex Plan.
IRA Active Plan$89.99/year, $0.99/purchase. The IRA Active Plan has an annual charge of $89.99, and offers a reduced Plan Purchase commission of just $0.99 per order. There are no purchase requirements or minimums associated with the IRA Active Plan.

 

You might also like...

 

Add Your MyStockFund.com Trading Customer Review

 200 max, no html




Spam will be deleted. No HTML please.

 


MyStockFund.com Trading Customer Reviews

Disclaimer: Your review, broker rating, pros and complaints information must be honest. Please use respectful and professional language. Customer reviews could be edited by the website staff to keep TopRatedFirms.com free of inappropriate or offensive language, false information, speculations, or to remove spam. We reserve the right to delete any brokerage reviews from consumers that don't meet above requirements.

MyStockFund.com Trading reviewed by former and current clients. Rating: 0.