Review sections
Introduction
Stockpile is a simple and easy-to-use brokerage ideal for beginners and notable for low commissions and the ability to buy fractional shares of stock and ETFs.
Stockpile is a great beginner brokerage that allows you to buy and sell stock in small amounts including fractional shares. That means you don’t have to shell out hundreds of dollars or more to buy any stock, even one with a high price per share on the stock market.
You can buy and sell for yourself or gift shares to family member or friend. Trades in your own account cost 99 cents each, or you can pay 3% more to buy stock or ETFs with a credit card. Beware of trading too little at a time, as the fee can be a high percent of your total trade.
Stockpile charges 99 cents per trade. This makes it quite a bit cheaper than the average discount brokerage.
Stockpile has a fairly simple offering and doesn’t charge many fees. The fee to place a trade is 99 cents. Buying or selling, the fee is the same. If you want to purchase stock or ETFs with a credit card, there is an additional 3% fee.
For stock gifts, the fee is $2.99 for the first stock and 99 cents for every additional stock. Paying with a card incurs the same 3% fee as it does in your own account.
Stockpile also sells physical gift cards in $25, $50, and $100 increments. Some additional fees apply on top of the certificate price to cover the cost of trade commissions and the payment processing fee.
Other fees, including wire transfer charges and outgoing account transfer charges can apply, but these are less common. There is no monthly maintenance or inactivity charge.
This brokerage offers just two types of accounts: individual and custodial.
If you are 18 or older, you can open an individual account. For minors under 18, custodial accounts are available. That’s it.
Stockpile does not offer any retirement accounts, joint accounts, or business accounts. It focuses on just one market and caters to those specific needs. That also means you’ll likely use Stockpile in addition to another brokerage that holds your retirement account.
You can buy and sell stocks and ETFs at stockpile. It doesn’t offer any other asset types.
Stockpile users can hold stocks and ETFs in their accounts. There are no options, mutual funds, bonds, foreign exchange, or other assets offered or supported.
The Stockpile website claims it supports more than 1,500 stocks and ETFs. Stocks include some ADRs (American Depository Receipts – these allow you to buy foreign stocks on US exchanges) and all members of the S&P 500 list.
Penny stocks, pink sheets, and OTCBB listed stocks are not covered. Stockpile does not offer any stocks that trade below $6 per share.
You must be 18 years old, provide a valid Social Security number, and be a legal resident of the United States (including Puerto Rico). To open a custodial account, you’ll need the minor’s address and Social Security number.
Opening an account is very quick and easy. There is no minimum balance, so you can open an account just to check it out before funding or buying a stock.
Stockpile offers a basic trading platform that allows you to buy and sell supported securities.
Stockpile allows you to trade via the web or its mobile app. It does not offer an advanced trading platform for desktop or the web.
While it isn’t fancy, it makes trading incredibly easy. It’s so easy a kid can do it! That’s part of the appeal of Stockpile for families. It makes it easy to teach your kids about stocks and the get them involved.
You can search for a specific company or ticker symbol or browse categories to find stocks and ETFs to buy.
Buy and sell based on dollar amounts, not share prices. If you want to buy $100 of stock, you’ll get the share equivalent added to your account. For example, if a stock costs $75 per share and you buy $100, you’ll get 1.33 shares.
The platform features basic price history charts, fundamentals, and recent news.
Image via Stockpile
Mobile versions are available for Android and iOS with the same features as the web platform.
Stockpile orders are processed once per day. There are no market, limit, or stop, or advanced trades.
When buying shares, your price is based on the closing share price that day. If you enter an order after 3:00 pm Eastern or on the weekend, your order will be placed at 4:00 pm (market close) on the following business day.
The timing rules are the same for sell orders. If you enter it by 3:00 pm on a business day, your order will go through that day. Any other time, it will use the closing price of the next business day.
Stockpile does not have a checking or savings account available.
Stockpile does not offer banking services.
Customer service is available through email. The online chat platform sends an email that takes about a day to get a response.
Customer service at Stockpile is not all that fast, but it is easy to reach via email or an embedded chat link on any page on the site. The embedded chat says it takes about one day to get a response. It looks like Twitter users fare a little better for response times with @Stockpile.
The help section doesn’t offer too much depth, but it does a very good job at concisely answering most questions you could have about Stockpile.
Stockpile does not have any current promotions.
Stockpile occasionally offers a free stock promotion. There are no current public promotions available.
Stockpile uses industry-standard security procedures and has a positive reputation.
Accounts are held in custody by Apex Clearing, a very large clearing firm. Through Apex Clearing, accounts are regulated by FINRA and the SIPC.
Through the SIPC, accounts are insured up to $500,000 ($100,000 in cash). Additional insurance from Lloyd’s of London covers accounts up to $2 million.
Equity research is very limited. Education is incorporated in the app as a series of mini-lessons on investing good for kids or adults.
Stockpile makes it clear that it is designed for kids as well as adults. The education section shows off the kid-friendly nature with short mini-lessons about the stock market and investing. It does not offer an in-depth education section.
For research, resources are limited. You can view some basic price history charts and some high-level fundamental data. That’s about it.
Trading experience
Stockpile is for beginners and casual traders. It is not suitable for active expert and professional trading needs.
The basic experience at Stockpile is best for people new to the markets. If you are a beginner and want to get your hands dirty with minimal costs and risks, Stockpile is perfect for your needs.
If you need a more advanced trading platform, research, or broader education resources, Stockpile probably isn’t the right fit for you.
FAQ
Is Stockpile regulated?
Yes
Where is Stockpile based?
Palo Alto, California
When was Stockpile founded?
2010
How does Stockpile make money?
Trade commissions, processing fees
How do I deposit in Stockpile account?
Electronic transfer, debit/credit card, gift card
How do I withdraw money from Stockpile?
Electronic transfer
How do I open an account with Stockpile?
Web or mobile app
Does Stockpile offer margin accounts?
No
Are funds at Stockpile secured or insured?
Yes
Stockpile is a great beginner brokerage for new investors and people looking to introduce their children to the stock market. Fees are low, but it is a fairly basic offering.
It’s tough to beat the 99 cent trade commission at Stockpile, and its unique fractional ownership model makes it easy for anyone to start investing even with just a few dollars. The option to fund an account immediately with a credit or debit card, or give stock gift cards, is another fun feature. Just beware the fees if you fund your account with a card.
It isn’t ideal for more expert traders or those looking for an advanced platform. But for basic and casual trading, it’s a solid choice.
