[fatbat]

This Loyal3 looks interesting because of the IPOs, credit card purchasing, and the no fees option.

However I am wondering what happens if the company (LOYAL3) folds since it allows fractional shares? Closest reference I found was this,

"LOYAL3 Securities, Inc., as a broker-dealer, has to comply with certain regulations regarding the requirement to have adequate net capital and asset protection. LOYAL3 segregates your securities holdings and cash in your account, meaning it keeps your assets separate from the firm’s own assets. In addition, LOYAL3 Securities, Inc., is a member of SIPC, which protects securities of the customers of its members up to $500,000 (including $250,000 for claims for cash). An explanatory brochure is available at www.sipc.org."

[hkmurakami]

In the case if a full service firm, you can move those shares to another account at a different institution once the year settles. Should be the car at this company too, but I suspect that the process would be much more annoying since you can't just pester a person on the phone for info.