Stockpile Review 2023: Stock Gift Cards And Fractional Share Investing

What Is Stockpile?

Stockpile was founded by CEO & Co-founder Avi Lele in 2010. The idea was to create a platform that would make it easier to give the gift of stock.

The stock investing industry has changed a lot since 2010. Most importantly, there are now a host of brokers that offer commission-free trades.

Thankfully, Stockpile has evolved as well to remain price-competitive. And it still offers one of the easiest ways to gift stock ownership to friends and family.

Buy Fractional Shares

Trading Limitations

Stockpile says that its members can trade over 4,000 stocks and ETFs. While that may sound like a lot, it's less supported assets than you'll find with other brokers. Robinhood, for example, supports over 5,000 stocks and ETFs. Note that you also can't trade mutual funds on Stockpile.

Also, Stockpile doesn't provide real-time trading. Trades are instead executed at the end-of-day price. So if you're hoping to do any active trading, this definitely isn't the platform for you.

Are There Any Fees?

There are no fees charged for buying gift cards, funding an account, or for trading stocks (buying or selling). 

You will have to pay shipping fee for physical gift card purchases of less than $100. And there's a $25 outgoing wire fee. But other than in those two cases, you shouldn't have to pay anything at all to use Stockpile.

However, there is a $4.95/mo account fee - which is much higher than comparable investing apps like Acorns or Stash. Also, they charge a $5 per quarter inactivity fee if you don't enroll in a membership plan. This is a big drawback.

The $4.95 monthly fee includes on adult account, and up to five custodial accounts. 

Trading on Stockpile is commission-free.

How Does Stockpile Compare?

There are few companies that offer stock gifts cards like Stockpile does. This has been especially true since it acquired SparkGift in 2016, which was one of its only real competitors.

Still, there are other ways to give the gift of stock, even if they don't involve shiny gift cards. Virtually any broker will allow you to transfer stock to someone else electronically, provided that your recipient also has an account with the same broker. You can also create custodial accounts for your children with your preferred broker to purchase stocks on their behalf.

Either of these options may be better for your recipients over the long-term. Top brokers like Vanguard, TD Ameritrade, or Fidelity all offer far more account options (Stockpile doesn't offer retirement accounts or joint accounts), trading tools, and supported assets than Stockpile.

Finally, it should be noted that if you're specifically looking to help your child save for college, gifting stocks inside a 529 account will help them save on taxes. In these cases, you may want to use GiftOfCollege.com instead which offers gift cards that can be linked to 529 plans.

The monthly fee really puts Stockpile in a gap with its competitors.

How Do I Open An Account?

After giving your gift card to the recipient, to use it, they’ll need to create a Stockpile account as well. This is where the process could go a little smoother since you're basically opening a brokerage account.

If the recipient is a minor, they’re parents or legal guardian will need to open a custodial account for them. The minor’s name can be on the account and they can still use it.

Once your account is open, you’ll need a way to deposit funds into it. This can be done by linking your bank account or by using a debit card.

How Do I Contact Stockpile?

Stockpile doesn't publish a customer service phone number. If you have any trouble with the platform, your best option is probably to try to scour the company's Help Center first.

If you do need personal assistance, you an email their team at support@stockpile.com. Currently, Stockpile has a "Great" rating on Trustpilot of 3.4/5 out of over 1,700 reviews. The company also has a B rating with the Better Business Bureau but is not BBB-accredited.

However, over the last few month's, we've seen a lot of complaints about Stockpile's customer service - especially as they rolled out the monthly fee. 

Plus, in our experience, to do tasks like Close Your Account, you have to fill out a web-form. This doesn't seem the most efficient or secure approach.

Is It Worth It?

The focus is Stockpile isn’t to be the best discount brokerage. Instead, it is all about gifting stocks through gift cards. You can even purchase them in a limited number of physical stores.

The idea of giving someone a stock gift card is great for younger people who are used to such simple concepts, rather than wading through the process of opening a brokerage account.

Additionally, they’ll learn to be better investors through all the investment education Stockpile provides. 

However, the price of $4.95 per month seems very excessive compared to other brokerage and custodial account options.

Stockpile FAQs

Here a few common questions that people have about Stockpile:

Does Stockpile take a percentage of assets?

No, Stockpile doesn't charge any advisory fees. They do have a $4.95 per month flat fee for the family (one adult and up to five custodial accounts).

Does Stockpile allow options trades?

No, it only supports stocks, ETFs, and ADRs.

Can you reinvest dividends with Stockpile?

Yes, if a stock that you own issues a dividend, you'll have the option to reinvest it into the company or receive it as cash deposited into your account.

Can stock gift cards be split?

No, you'll need to use the entire gift card amount on one stock. You can then sell a portion of your stock shares to purchase shares of a different stock if you'd like.

Do Stockpile's gift cards have expiration dates?

No, they can be redeemed at any time.

Is Stockpile available in every U.S. state?

Stockpile is available in every state except Connecticut.

Stockpile Features