Stockpile offers a standard account for trading and investing in stocks. Your stocks will go up and down with the market, trading always carries an element of risk. If you were to buy 0.5 shares for $50 and the stock goes up 10%, your shares would then be worth $55. You could buy $50 of Amazon and get 0.05 shares. With Stockpile, instead of needing to buy an entire share, you can buy fractional shares and invest any amount that you want. For example, say Amazon starts at $1,000 a share. This can make it difficult for some aspiring traders to get started. When it comes to purchasing stocks with other brokers, things can get pricey. It is also ideal for gifting stocks and learning more about safely investing online.
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That being said, Stockpile’s target market is primarily those who are new to trading rather than the more seasoned professional investor. Whilst the Stockpile app is modern and simplistic, it is very limited when it comes to conducting detailed analysis. You can conveniently access everything from there to setup your account, manage funds, research potential investments, buy and sell stocks, and manage your portfolio. Stockpile has a very simple to use trading app that is beginner-friendly and great for new investors. If your country is not accepted by Stockpile, I recommend checking out our broker comparison tool for alternatives. You must have a social security number and be legally living in the USA to open an investment account with them. It’s disappointing that Stockpile does not open or maintain accounts for traders located outside of the United States. I recommend going through the terms and conditions since they’re pretty specific on who is eligible for compensation. The SIPC protection is limited to $500,000 with a $250,000 limit for cash. The SIPC is an investor protection scheme established in order to protect clients against the loss of cash and securities in case the broker cannot fulfil their financial obligations. It is a non-governmental organisation that regulates member brokerage firms and exchange markets. I am personally satisfied with this top-tier regulation and would therefore have no problem entrusting them with my funds.įINRA enables investors and firms to participate in the market with confidence by safeguarding its integrity. All securities are offered to self-directed investors by Stockpile Investments, Inc., who are a registered broker-dealer and member of the Financial Industry Regulatory Authority (FINRA) and the Securities Investor Protection Corporation (SIPC) scheme in the United States. This is because they must comply with the rules and procedures that have been put in place to protect investors. Using a regulated broker gives me the peace of mind that they will be operating in an honest and transparent manner. When it comes to choosing a broker, regulation is one of the first things I look for. Stockpile enables you to buy fractional shares with as little as $5 making it possible for anyone to own stock in their favourite companies. Stockpile’s mission is to make it easy for beginners of any age, including children and millennials, to learn about stocks, get started investing in stocks or to gift stocks. They have some of the lowest fees in the online broker industry starting from just $0.99. I like how they aim to make the stock market more accessible for the younger generation through an easy to use platform with an intuitive interface that makes the buying and selling of stocks and ETFs a quick an easy process for all.įounded in 2010, Stockpile was created by CEO & Co-founder Avi Lele to give those who are missing out on one of the best ways to grow wealth an easy way to learn about stocks and get started investing. Stockpile is a USA brokerage that offers a modern and sleek trading app for buying fractional shares of stock in companies like Apple, Amazon, Disney, Google, Facebook, Netflix, Nike, Tesla and thousands of other popular stocks as well as ETFs. Limited tools for market analysis and research.
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