Averaging in with sharebuilder?

I'm hunting around for a cheap broker that allows me to average into a position over a fairly long period of time. For example, buy $100 dollars every month for 10 months. Or something like that.

Sharebuilder has a sort of automated investment plan that sounds like this. What is the fee schedule for such a plan? Are you billed weekly for transaction costs or is it a one time deal? I want to have as low of costs as possible, and averaging in using multiple transactions is freakishly expensive.

Also, what "universe" does sharebuilder have access to? Can I purchase preferred stock, bonds, or whacky derivatives?

Any other suggestions?

Thanks

Sharebuilder was acquired by ING Direct. You'll find answers to your questions here:

http://www.sharebuilder.com/sharebuilder...

There is no special universe for them--brokers by stocks in the street name, NOT your name, unless specifically requested, so owning a partial share is no big deal.

Fees are here:
http://www.sharebuilder.com/sharebuilder...

Account features here:
http://www.sharebuilder.com/sharebuilder...

Note you can do options and margins as well.

They have a Sharebuilder stock list so you can see the 6000 securities you can buy, but no you can't buy just anything and I am sure they don't mess with derivatives.

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