Webull

Primerica Crypto Currency and Bitcoin Investing (2021)


Primerica crypto investing fees. How to buy or sell BAT, NEO, Ripple, Stellar, Cardano, Dogecoin, Ethereum (ETH), Bitcoin (BTC), Bitcoin Cash (BCH), and Litecoin (LTC) crypto currencies on Primerica?



Cryptocurrency at Primerica


You cannot invest in Dogecoin, Ethereum (ETH), Bitcoin (BTC), Bitcoin Cash (BCH), Litecoin (LTC) or any other crypto currencies on Primerica at this time. As an alternative, you can use a $0 commission broker called Webull that does offer crypto currencies trading.


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Per Trade vs. Per Share Commissions


There are two options for a customer buying investments with an online broker, and each has their advantages. A potential customer may select a broker with either flat rate or per share commission plans. Not all brokers offer per share plans, and even with those that do there may some deterrents for the average customer. A comparison of brokers offering each reveals how they differ from one another.


Online Brokers With Per Share Commission Plans


TradeStation offers a per share plan that starts a $0.01 per share for the first 500 and then it drops to $0.006 per share for each additional purchased. Interactive Brokers has a similar plan with a per share cost of $0.005, and each broker has a $1.00 minimum per trade. MB Trading has a minimum trade commission of $0, and if one selects per share the cost is $0.075. All of these plans are targeted at the very high volume trader who can benefit from the commission structure, and meet the account minimum requirements with these brokers.

The Interactive Brokers scheme is especially suited to professional traders, who may be turning over 1000’s of shares, and need a simple, cost effective way to enter and exit trades. Tradestation also rewards volume with its per-share plan. Each of the per share brokers offer similar commission structures on other investment vehicles such as options, mutual funds and bonds.

The high account minimum at these brokers also suggests that the serious trader is being targeted with the per share alternative. Tradestation requires a $500 minimum for daytraders and Interactive Brokers has a $10,000 minimum for any non-IRA account type. Professional daytraders are often profiting from slight price movements, enhanced by trading larger numbers of shares at one time. They need the competitive pricing with a per share plan to preserve their fractional gains per trade.

Also, the trading platforms offered by these two brokers are not easy to learn for the average retail trader, and their customer base reflects how they have structured their brokerage services.


Online Brokers With Flat Rate Commission Plans


The flat rate commission brokers are plentiful, and are popular among the majority of retail investors. These customers are placing fewer trades and holding the positions longer to capture gains. They don’t require a complex or volume-based commission structure. They look for reliable service and predictable cost of trading on an easy to use online platform.

For example, two of the largest online brokers, Webull and Ally Invest charge $0 per trade for stocks and ETFs.


Manages Accounts With Flat Rate Commission Plans


For investors who want the lowest management fees in the industry, there is M1 Finance. The broker charges flat rate of 0.0% (yes, zero) annually for its portfolio management services. The broker is a robo-advisor and self directed combined.


Verdict


The majority of retail traders and investors will be drawn to the simplicity of the flat rate structure, where the cost of the trade is the same each time, and there are no complex formulas to compute variances in commissions as with per share brokers. For most, the per share broker is too specialized, and the service and technology packages are geared to sophisticated traders with years of experience, or true professionals.

It might be difficult for an average retail trader to benefit from the per share commission structure that they offer. Most of them will stay with the large online brokers that offer more mainstream services, and a commission structure that is easy to understand and simple to compute the cost. If they want access to both types of commission then Tradestation is the best choice with a low cost structure for both flat rate and per share trading.


Brokerage Promotions For New Accounts


Ally Invest: Up to $3,000 cash bonus + transfer fee refund.

TD Ameritrade: Get $0 commissions and ACAT fee reimbursement.