Stockpile Review – A Starter Platform for All Ages
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The platform is ideal for beginner investors and parents who’d like to introduce their children to the stock market and give the gift of stock.
8.5/10
Costs
9/10
Features
8.5/10
Ease of Use
9/10
Services
8.5/10
How soon should you start investing? Experts agree the earlier you start, the more likely you'll retire well ahead of the game. To make it even easier to start investing young, one company is on a mission to make investing accessible for everyone, including kids. Whether you are a parent wanting to teach your children the value of investing or an eager child trying to find out how you can invest, Stockpile may be right for you.
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What is Stockpile?
Founded in 2010, Stockpile is an online brokerage designed for parents interested in giving their children a jumpstart in personal finance. Stockpile offers two account types: individual brokerage accounts and custodial accounts.
Stockpile also offers parents (or anyone) the opportunity to gift stocks with an e-gift card. Just choose the stock and the dollar amount you’d like to gift, enter the recipient’s information, and pay for your purchase using a debit card or Visa/Mastercard. Stockpile doesn’t accept Capital One or American Express credit cards.
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How does Stockpile work?
Stockpile switched to a mobile-only platform on May 25, 2022. This means web-based account access via Stockpile.com is no longer available. That said, new users can still sign up for a new account via desktop.
Signing up for an account with Stockpile is simple. To get started, visit stockpile.com/signup and fill out the form. The form requires you to enter basic information, including your first and last name, email, and password. Your password must be eight characters long and contain at least one uppercase letter, one lowercase letter, one numeral, and one special character.
Once you’ve signed up, you can choose between an individual or custodial account.
After you decide on an account type, you’ll be presented with the following message: The federal government requires that we collect some information to verify your identity (U.S. Patriot Act). Your information is encrypted and securely transmitted using SSL.
The following screen asks you to fill in your date of birth, mobile phone number, home address, country of citizenship, social security number, employment status, and employer name. You’ll also be asked if you or anyone in your immediate family is affiliated with/works for a broker-dealer or FINRA, is a director or 10% shareholder of a publicly traded company, or is a senior foreign political figure.
Once you enter your information, click “continue.” A preview screen will pop up with the following message: Please take a moment to double-check and verify the information you’ve entered. We won’t be able to open an account for you if anything is incorrect.
If everything looks good, click “submit.” Voilà! You now have a Stockpile account.
How much does Stockpile cost?
Stockpile is completely free to use. You can download the app and sign up without entering debit or credit card information.
Stockpile doesn’t charge trading fees or monthly account fees or require an account minimum. Plus, you can get all e-statements, trade confirms, and 1099s for free.
Here’s a breakdown of Stockpile’s fees.
Action | Fee |
Stock trading fee | $0 |
ETF trading fee | $0 |
Incoming and outgoing bank transfers (ACH) | $0 |
Returned ACH (insufficient funds) and/or recall/stop payments | $30/failed transaction |
ACH notice of correction (NOC) fee | $5/per notice |
ACAT outgoing (transferring to another brokerage) | $75/account |
ACAT incoming (transferring to Stockpile) | $0 |
Outgoing cash (domestic wire) | $25 |
Wire amendment/repair | $30 |
Paper checks | $5 |
Overnight courier (domestic) | $50 |
For more information on Stockpile’s fees, visit Stockpile’s help page.
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- Over 100 Stock Picks with 100%+ Returns
- Averaged Stock Pick Return over 593% (vs. 165% for the S&P)
- 2 New Stock Picks Every Month
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- 30-Day Membership-Fee-Back Guarantee
- Joy Wallet Reader Deal: The Motley Fool is offering 50% off its top stock-picking service for new members (Limited Time)
Stockpile features
Investing made easy
Investing with Stockpile is simple for adults and adolescents alike. Users can choose to open an individual or custodial account. A supervised account allows kids to buy and sell the stocks they choose (with their parents’ or guardians’ approval).
What’s more? Although supervised, they can choose via a separate account login to track their stocks and request trades.
Stockpile gift cards
Stockpile allows users to buy stock gift cards for their friends and family. (Stockpile offers e-gift cards and physical gift cards.) When the recipient redeems the gift card, they’ll get a whole or a fraction of stock (thanks to Stockpile’s option to buy fractional shares).
Stockpile gift cards are not expiring and can be redeemed anytime. Note: To redeem a Stockpile gift card, the recipient must have an existing account. If they do not have an existing account, they must sign up for a Stockpile account first.
Wide selection of stocks
Unlike other investing platforms, Stockpile offers a wide selection of stocks. According to the Stockpile website, Stockpile has various investment options for new investors to choose from, including 4,000+ stocks, ADRs, and ETFs. If there’s a stock you’re interested in buying that isn’t on Stockpile’s list of available stocks, you can request the company to add it for you. However, Stockpile doesn’t add stocks that trade below $3.
Note: Stockpile does not offer penny stocks, cryptocurrency, bulletin board securities, pink sheet stocks, or foreign ordinaries.
Related: Best Stocks for Kids
Who is Stockpile best for?
Stockpile is best suited for beginners, gifting shares of stock, introducing younger family members to investing, and buy-and-hold investing.
Thanks to its easy-to-use platform, Stockpile is the ideal investment platform for kids and teens interested in learning more about the stock market.
Related: How to Invest as a Teenager
Who shouldn’t use Stockpile?
Stockpile isn’t for advanced traders or people interested in buying and selling cryptocurrencies.
Pros and cons
Pros
- Stockpile app. Stockpile has a mobile app that’s available for iOS and Android users.
- Fractional shares. With Stockpile, you can purchase a fraction of a stock. This means you can invest in hundreds (even thousands) of companies without breaking the bank.
- Custodial accounts. Stockpile gives parents the option to teach their children about the market while maintaining control over their kids’ trades.
- No fees. Stockpile doesn’t charge monthly account fees; there’s also no minimum balance requirement.
Cons
- Not equipped for advanced traders or experienced investors. Stockpile is great for beginners, but the platform doesn’t offer the functionality of sophistication other online brokerage platforms offer (e.g. advanced charting, and real-time data streaming, TD Ameritrade is a good example of a higher-end alternative.
- Limited account types. Stockpile doesn’t offer retirement (IRAs) trusts, or international accounts.
- Limited assets. While Stockpile does give users the option to choose from a library of 4,000+ stocks, investors who are interested in other asset classes (e.g. options, futures, etc.) will need to open an investment account elsewhere.
Use Motley Fool's Stock Advisor To Invest
- Over 100 Stock Picks with 100%+ Returns
- Averaged Stock Pick Return over 593% (vs. 165% for the S&P)
- 2 New Stock Picks Every Month
- Investment Community With 700,000+ Loyal Members
- 30-Day Membership-Fee-Back Guarantee
- Joy Wallet Reader Deal: The Motley Fool is offering 50% off its top stock-picking service for new members (Limited Time)
Stockpile vs. competitors
Platform | Asset types | Minimum deposit |
Stockpile | Stocks, ETFs | $0 |
Fidelity | Stocks, ETFs, bonds, mutual funds, options, forex, penny stocks | $0 |
Robinhood | Stocks, options, ETFs, cryptocurrency | $0 |
Fidelity
Fidelity is one of the largest brokers in the US. The company offers services for all customers, from new investors to serious traders. In addition to its wide selection of assets, Fidelity offers robust research tools to help customers make informed financial decisions.
Although Fidelity offers commission-free trading for stocks and ETFs, the company charges high broker-assisted trading fees and does not offer futures, commodities, or crypto trading.
Robinhood
Robinhood is an app-based investment platform that allows users to buy commission-free stocks, ETFs, and options. Robinhood doesn't offer futures, forex, mutual funds, or international trades. The platform also lacks educational materials when compared to Fidelity.
In addition to commission-free stocks, options, and ETFs, Robinhood also offers commission-free crypto. Users can buy Bitcoin, Ethereum, Litecoin, Dogecoin, and more for just $1. (You can also get your first stock free when you sign up today!)
FAQs
How old do you have to be for Stockpile?
You must be 18 years old or older to apply for an individual Stockpile account.
What stocks can I buy on Stockpile?
Stockpile has a library of 4,000+ stocks. Users can buy, sell, and trade stocks and ETFs (including every stock in the S&P 500) using their bank account info or a Stockpile gift card. Stockpile does not offer mutual funds, bonds, or cryptocurrency among other assets.
Does Stockpile require SSN?
Yes, users are required to enter their social security number when opening an account.
Use Motley Fool's Stock Advisor To Invest
- Over 100 Stock Picks with 100%+ Returns
- Averaged Stock Pick Return over 593% (vs. 165% for the S&P)
- 2 New Stock Picks Every Month
- Investment Community With 700,000+ Loyal Members
- 30-Day Membership-Fee-Back Guarantee
- Joy Wallet Reader Deal: The Motley Fool is offering 50% off its top stock-picking service for new members (Limited Time)
The bottom line
While Stockpile is limited in its capabilities for advanced traders or investors, the platform is ideal for beginner investors and parents who’d like to introduce their children to the stock market and give the gift of stock. Plus, no account fees and a minimum balance are required to get started.
You'll need to find an alternative if you’re looking for an IRA or are interested in investing in mutual funds, bonds, options, futures, or cryptocurrency.
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Writer
Tabitha Britt is a New York-based freelance writer and editor whose work has appeared on INSIDER, the Huffington Post, and Taste of Home. When she's not glued to her computer screen, she can be found walking her beloved pooch, Biscuit.
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