Additionally, there is a “swipe” fee for 3% of the purchase.įor example, if you purchase a $100 gift card, the debit card fee would be $3 plus the additional $2.99 making your purchase $105.99. The e-gift card fee for the first stock is $2.99. The purchaser of the gift card has the responsibility to pay the fees for each transaction. Instead, Stockpile’s primary selling point is that they give you the ability to purchase a gift card for tons of stocks on the market. However, the Stockpile fees are competitive compared to other brokerage firms.īeing a cheap investment option is not Stockpile’s value proposition – but it is an added bonus. Short answer – yes, there are fees involved. If you are more interested in robo-advisors, check out our review posts of Stash, Acorns, Wealthsimple. We particularly like Stockpile as a learning tool, mainly because of the option to purchase fractional shares.īecause it is a relatively risk-free way to learn the ins and outs of the market! The owner of the stock will receive the same value increase (or decrease) in proportion to their fractional share – it works the same as if you purchased one full share of stock.Īlso, you can purchase fractional shares of multiple companies and begin learning the value of diversification! Stockpile then collects these fractional shares and executes trades for entire shares, based on customer purchases, at the end of each day. You still receive a real ownership interest in your chosen company, but without breaking the bank. However, with Stockpile, you can purchase a fractional share as small as $5! You realize – that is way too much money for one gift! Let’s say you want to purchase, Inc., which trades for around $1,500 per share. This form of investing is relatively new and has become a trendy choice for people with brokerages that offer this feature. …but don’t want to pay for an entire share. …introduce people (especially younger generations) to investing.īut how can you possibly give someone a fractional share of a company?! Stockpile’s CEO on Mad Money with Cramerįractional shares present an excellent option for people that want to gift a valuable stock… Why do these gift cards make excellent gifts?īecause Stockpile has effectively created a way to… These gift cards can be purchased on the Stockpile website and given to others as gifts.
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