Stockpile Reviews - What Is It?
WARNING: DO NOT BUY Stockpile Until You Read This Review!
Is it a Scam? Does It Really Work?
Stockpile is a stock broker that operates mostly online. It does not only allow its users to buy and sell stocks but also provides gift cards that can be used toward the purchase of exchange and stocks - traded funds (ETFs). The service was created by CEO Avi Lele. He tells that he was looking to buy Christmas presents for his nephews and nieces, but he was looking for something more than just toys. He found stocks to be a good idea but this was too pricey for him. The man decided to realize the idea by creating Stockpile. While individual stocks can be too expensive to buy one share at a time, gift cards toward the purchase of stock seem to be a wise decision. You can buy those gift cards through the Stockpile website or at select retailers, such as grocery stores. This stock broker encourages both average people and even kids to buy fractions of stocks instead of one full share. These investments are easy to make through stock gift cards and a specially created application.
Avi Lele cooperated with co-founder Sanj Kulkarni to create a stock brokerage offering a lot of benefits to customers. If prices on a single share reach $10 in a year and a company's client owns 25% of a share, they receive 25% of that price increase: $2.50. Their initial mission was to make the stock market affordable, easy and accessible for everyone, according to Dan Schatt. To work with a traditional broker you will need a couple of thousands of dollars to get started. What is even more surprising is that Stockpile made stocks accessible even to children. Lately, kid investors have become popular because parents of young people want them to learn how to manage money correctly and to flourish in the financial sphere. It is a great idea to teach kids about investing and finances in general, and Stockpile can be a great solution for this purpose. To better understand how the company works it is necessary to take a look at what other people are saying about it.
Customer Reviews - Does Stockpile Really Work?
There are two ways of purchasing stock through Stockpile: buying a gift card for any person you know or choosing stock yourself. The process of buying a gift card for someone else is very easy. You will need to go to their official website and click on the "Shop Now" button. You will be able to choose to buy a physical gift card or an e-card. Once you click on the chosen link, you will be taken to the Stockpile marketplace. There are different categories of stocks like "Trending", "Kids", and "Fashion". Choose the desired category and you will be presented with all sorts of brand logos and the parent company who owns the brand. For instance, when you click on "Kids", you will receive many different brands. One of those brands is Barbie, its logo, and the parent company is Mattel. You can purchase ETFs, collections of different types of investments (stocks, commodities, currency,) made into one stock. It is fun to purchase stock from familiar companies, isn't it?
There are numerous users' reviews on Stockpile on different websites. Most customers are happy using this online broker. They like the way how their stocks and ETFs are organized because it is really a great way for young and old investors to invest their money in companies they know well. According to the company's CEO, many people gravitate to their brokerage because it gives them an opportunity to connect with the brands they love. It is exciting to buy what you known and understand. Once you see the company you like, click on it and select the desired amount of the stock's gift card. The gift card you choose is actually a cash card that can be used on the Stockpile website. It can be redeemed for the stock on the card, a retail gift card or other stock on the site. The advantage here is the flexibility you have. If your child is not interested in purchasing a quarter-share of some definite stock, they can redeem the money for another gift card. Stockpile gift cards can be purchased in retail stores. It is not necessary to have a brokerage account with Stockpile in order to get a gift card. You can buy stock for yourself through Stockpile's website. Just open an account and choose any of the ways of buying actual stock. You can choose stock, buy it and open an account with a linked bank account. Or you can open an account, link bank account and purchase stock. Let's take a look at what real customers of the company are writing about it online.
"I have been with Stockpile for a long period of time. In two years I haven't had any problems or issues. I called the customer service once to consult on a login issue, but it turned out to be my fault. I was pleased with care and quick attention from the representative of the company. I also liked the variety of options to choose from. The info section has been significantly improved. It is a very reasonable fee of $0.99 per trade with a bank transfer. I am generally happy with the service."
"I started my career with stockpile as an intern, then they offered me a fulltime position. As an employee, I can say that it is a revolutionary idea in the fintech world. I was impressed with the large market potential. I recommended this company to all of my friends and many of them started investing their money. At present they are very happy with the service."
"I am glad that I found Stockpile and decided to give it a try. I have been with them for a few months already and I have succeeded a lot. It is a real pleasure to work with Connor, a representative of the company. This is a wonderful company, and I have been passing on their contact details to my family and friends. I am very happy."
My Final Summary
Stockpile has a great number of advantages. The first one is low trading fees. Selling and buying costs 99 cents per trade. No minimum account balance is required to start investing money. Through the gift cards, the company allows the selling and buying of fractional shares. There are no annual fees. Stockpile offers both individual and custodial accounts. More than 1,000 ETFs, stocks, and ADRs are available. The only disadvantage of the service is that it is available for U.S. residents only.
In general, Stockpile is a unique product that allows parents to teach their children about finances and investing. The stock is available in a form of currency comprehensive for kids. Cashing in the card is extremely simple. Children can shop for stock the way they would do for something on Target's website. Besides, they learn how to identify brands. It is a known fact that 25% of Stockpile's customers are under 18. The service is also easy for adults to use, even for beginners. Taking into account all pros and cons of Stockpile, I can undoubtedly recommend this service to people of all ages.
Stockpile Pricing and Rates
The price for the first stock is $2.99, plus $0.99 for each additional stock. There is also 3% for the credit or debit card fee. Buying a $50 e-card toward the purchase of Apple stock will cost you $2.99, plus $1.50 for the credit/debit card fee. The total fee is $4.49. If you want to buy a physical card, a single fee for a $25.00 card will be $4.95, for a $50 card - $6.95, and for a $100 card - $7.95.