Here is our Stockpile Review, happy birthday! Okay, so maybe it is not your birthday. But if it were, wouldn't you love to receive a gift of stocks? Well, Stockpile enables you to do just that. Stockpile is the brainchild of Avi Lele. He created the company after undergoing a frustrating ordeal when attempting to buy stocks for his nieces and nephews. As a result, he set to work on making it easy and inexpensive to give the gift of shares.
So trades for high-priced stocks can be done in small dollar amounts. Meanwhile, the ability to fund an account with gift cards and the user-friendly platforms make trading so easy; even a child could do it.
Founded in 2010, SP Inc. is a relatively young company in the investment world. If you are using Stockpile for micro investing and gifting, you will be doing business with Stockpile Gifts, Inc. and Stockpile Investments, Inc., who are wholly-owned subsidiaries of Stockpile, Inc.
You’ll also likely be using the Stockpile App. You can’t be a young company without a cool app.
The mobile app has all the functionality of the desktop platform. Stockpile offers the app for both Android and iOS devices. You may download it directly from the App Store or Google Play. If you need stock training then make sure to take our free courses.
Stockpile offers two stock trading platforms, desktop, and mobile. Both are extremely easy to use and excellent for beginners. Consequently, they don't have the tools, features, bells, and whistles of professional trading platforms. In short, think of Stockpile as training wheels for newbies, even children, entering the world of investing (find out how to invest in stocks).
Desktop - This browser-based platform is very simple and straightforward to use and not like anything I've seen before. It lists your stocks by category, company logo, and symbol. Just look for the iconic Nike check mark logo if you want to trade Nike.
You don't need to know that the symbol is NKE. Then click on the Buy Stock button, choose a logo, and a window pops up to place a trade. After that, select the dollar amount you want to invest, and it will show your estimated fraction of the share.
Stockpile offers some basic features such as customizable watchlists, news, and stats, like highs, lows, P/E ratio, and Div/Yield. But if you're in the market for a platform that offers advanced tools and analytics, this is not it.
The platform also has a learning center, designed for beginners, with Quickstart Guide and Stock Market Basics sections. Additionally, if you want family or friends to gift you, use the Wish List feature. Pick the stocks you wish, write a message, and share it on Facebook and Twitter.
It's simple to set up an account with Stockpile. Just sign up, link your bank account to move money back and forth, and redeem your gift card. If you like, you can set up automatic recurring deposits from your bank account into your Stockpile brokerage account. Also, custodial accounts can be set up for children. There is no minimum balance requirement and no monthly or annual fees.
Rates are low; the fee structure is simple, and I did not see any hidden fees. However, please note that you must be a US citizen to open an account. Moreover, since stock purchases are in fractional shares, you may not be able to transfer them to another broker.
Stockpile Investments, Inc. is a member of the SIPC (Securities Investor Protection Corporation) and also FINRA (Financial Industry Regulatory Authority, Inc.). Also, to secure your information, Stockpile uses 256-bit encryption. Check out a list of the top trading companies.
While Stockpile isn’t for super active or professional traders, it's a great way to introduce beginners to investing. I think it's especially great for kids. For instance, I didn't even begin to think about investing in stocks until I was an adult. Nowadays, you can start young thanks to fractional shares and micro-investing with companies like Stockpile, Acorns and Stash Invest, to name a few.
Young or old, it’s never too late to start learning about making money. And there are no better places to do that than with the Bullish Bears community. Our trading service is all about giving back. We believe in paying it forward.
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