Stock Review | the ascent
No fees or minimum balance required
There is no minimum deposit required to open an account with Stockpile, and you can start trading immediately by linking your bank account and using your debit card. Stockpile also offers fractional shares so you can buy stocks or ETFs with as little as $1. This makes Stockpile an ideal choice for those who don’t have a lot of money to invest but are looking for exposure to stocks.
The trading platform is simple and intuitive
Stockpile offers both online trading on the web as well as a full mobile app. Its app received 4.7 out of 5 stars on the iOS store, with many users praising its simplicity in their reviews. Stockpile makes trading easy by allowing you to search stocks and ETFs by category, such as searching by sector or finding the most active assets or the top gainers or losers.
Supervised custody accounts can introduce kids to investing
Supervised accounts are one of Stockpile’s most unique features. Parents can open a custodial account and give their child control over building their portfolio from thousands of popular stocks and ETFs. Minors can request transactions that are executed with parental approval and will take ownership of their account when they reach adulthood.
Unique e-gift card options for gifting stock
Stockpile also sets itself apart from its competitors by allowing users to purchase electronic gift cards that can be redeemed for stock. You simply select the action, decide the dollar amount to gift, and the recipient can redeem the gift card for their chosen assets.
What could be improved
Access to a wider range of assets
Stockpile allows users to trade thousands of stocks and ETFs, including all S&P 500 stocks. However, the broker offers fewer stocks than many competitors and does not allow mutual fund trading , bonds, CDs or cryptocurrencies. Stock investors also cannot trade stocks that are priced below $3.
Margin of negociation
Margin trading is not an option on Stockpile, meaning you are limited to buying stocks and ETFs with settled funds.
More research and data access offers
Since Stockpile is aimed at the beginner investor, it does not offer in-depth research material or advanced charting tools. Most of the informative materials it provides are aimed at developing basic investment knowledge. For example, the broker offers guides on what the stock market is and how trades are made. More experienced investors may find its features lacking.