In exchange for my honest and unbiased review, I received a $25 gift card to try out Stockpile. This post contains a referral link. I am not a market professional and not responsible for gains or losses that you may experience. I am not affiliated with or own an investment in any company or brand mentioned, and have no plans to do so. Securities products are not FDIC insured. Not bank guaranteed. May lose value.
I want to start this review by saying my knowledge of the market and everything about it is pretty low. I have learned so much in just a few days of using Stockpile and love that I am learning right from my cell phone in just a few minutes per day.
Earlier this week I received a gift card from Stockpile to give their app a try. I got $25 in Facebook stocks to start with. Setting up the account on the app was REALLY easy, actually a lot easier than I thought it would be. I also got this nifty little handbook about investing which has been a great resource to determine if we want to actually purchase stocks of our own using funds easily transferred from our bank account.
What I like about Stockpile is I can stake a claim to some huge named companies such as the mentioned Facebook and even Amazon without having to buy them at their current face value. Here is an example I found on their FAQ section that breaks it down into really simple terms:
Stockpile makes it easy and affordable to buy stock for yourself, or give gifts of stock to family or friends. We have nearly a thousand different stocks, ETFs, and ADRs to choose from, and you can buy or give the exact dollar amount you want using fractional shares. For example, if Amazon is trading at $800 per share, you don’t need to come up with $800 to get started. You can spend $80 to buy 0.1 shares of Amazon.
I learned that this method is called “fractional shares.”
Using Stockpile has also given me a way to introduce the market to our now 4 year old who loves to chart the changes in the Facebook stock that we have and while he doesn’t understand the ins and outs of the market right now, this is a great way to begin conversation about investing and saving for a better tomorrow. Granted we are aware that we can lose, but at least we are not losing a ton of money by using Stockpile because we can start with as little as a dollar. We are also debating letting him choose one of his favorite brands or companies and letting him purchase a few dollars worth and just leaving the money in place so that he can follow for years to come, each year offering him the opportunity to choose a new company to follow. There is no limit to the ways that a parent can use Stockpile as a teaching tool for their children.
Stockpile allows new investors to buy and trade with little money involved, you can purchase gifts for family and friends and all of this is done from the comfort of your home without having to go through a third party person to trade. This is what I absolutely love about the whole system, it is easy and I never have to pick up the phone to make a phone call or email someone about my stock. I just grab my phone, start the app and I am free to make my own choices.
I was also given an opportunity to share some Stockpile love with my readers. For each person who signs up using this link: http://bit.ly/2q0B7sCyou get $5 to invest as you wish. Just be sure to enter your Social Security number when prompted so that your account can be verified.
What are you waiting for? Lets all jump on the Stockpile bandwagon and get trading!!