Previously, Stockpile had a fee of 99¢ per trade to buy or sell stocks. This is really great news that makes Stockpile a much more attractive brokerage to invest with. Recently, Stockpile eliminated its 99 ¢ trading fees. This is a feature completely unique to Stockpile. For a holiday or maybe your birthday, you can ask for a gift card as a present and redeem them to grow your portfolio. Stockpile offers the unique feature of gift cards that act as credits to buy stock. With fractional shares, you can set precisely how much money you want to invest in any company, and Stockpile would give you a proportionate fraction of a share.
For example, as I’m writing this, Alphabet (Google) has a share price of $2000, which is WAY more than most teenagers can afford.
#Review stockpile full#
Unlike most brokerages, Stockpile offers fractional shares, which means you can buy a fraction of a share rather than purchasing a full share. If you want advanced real-time data, price information, and analysis tools, Stockpile may not be the best brokerage for you. Stockpile’s interface is easy to understand but is also quite simplistic. But this really should be such a big deal for most people. However, it only shows updated stock prices every 15 minutes, so you won’t be able to check the exact value of your stocks. Stockpile has a simple interface and is easy to use and understand. Even though your custodian will still need to press “approve” when you choose to buy or sell a stock, Stockpile gives you almost complete autonomy over your money, which is what sets Stockpile apart. With Stockpile, you can connect your bank account (or use your parent’s account and pay them back in cash) and then, through the app or website, decide what stocks to purchase and when. But Stockpile allows you to easily invest your own money and make your own investment decisions (with your parent’s approval). If you want, you can talk to them about those decisions. Most other brokerages’ custodial accounts are set up so that the custodian (one of your parents) puts in money and decides what stocks to invest in. In all the research I’ve done, Stockpile is the only brokerage that allows this. Stockpile’s greatest advantage is that it gives the beneficiary of the custodial account (minor) to make trades from a separate login from the adult. In this post, I will help you understand Stockpile works and share my experience with it. Although you still need approval from your custodian to make trades, you have way more control over your investments than you would with any other custodial account. Its main benefit is that it enables you to view, track, and control your investments with a login separate from your custodian (the parent or guardian you made the account with). Stockpile is a platform that allows kids and teenagers to open a custodial account and invest in the stock market.
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