Stockpile Move to Zero Commission, Zero Fee Trading
Investment app Stockpile is making it easier for users to get started with an announcement that it has removed all trading fees, including SEC, TAF fees. While many competitors offer commission-free trading, Stockpile is removing an additional layer. Effective immediately, Stockpile users can take advantage of Stockpile’s zero trading fee model. Additionally, users will no longer be charged any fees related to account funding or purchases of gift cards for stock.
“Stockpile is the first trading app to eliminate even more barriers impeding users from entering the stock market,” said Stockpile, Inc. CEO Victor Wang. “Starting is everything and by eliminating fees, Stockpile’s investors have the opportunity to invest without impediments. Your $10 investment is $10 in the stock of your choice and your $10 gift card purchase is converted into $10 in the stock of the recipient’s choice.”
Stockpile, Inc. was founded in 2010 and is headquartered in Palo Alto, California.
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This will probably blow up in a big way
Stockpile’s Drawbacks
Stockpile doesn’t execute trades immediately. Traders are executed at predetermined times during market hours. This means that traders won’t necessarily get the best price they can for their trades. Incoming data has a 15-minute delay and the charts you view can not display a time frame smaller that one day.
Lack of Features Is A Turnoff For Advanced Traders
The platform is simple at the cost of features that would be highly valued by experienced traders. Research tools and raw data are not abundant. Another deterrent for advanced traders is the fact that there are no features like real-time streaming data, advanced order types, order routing options, or basket trading.
And who is guaranteeing your money is safe?
The SIPC… they are regulated. I had an account for years when there was a bonus before. They buy and sell at the closing price and you can verify this by using Yahoo historic quotes. This is the Sharebuilder/M1 model. They are as legitimate as any other broker.
LMAO. I was thinking about the MSing angle. Good opportunity to use PayPal Key on it right now anyway. But I still don’t like the method they use to buy/purchase/sell your stocks though.
I’m not sure what fees they have regarding moving money *out* of your account; You could simply park the cash in a MM fund, leave it there for a month, then move it back out. You then wouldn’t need to worry about Stockpile’s method of a fixed purchase day/time of day for purchases/sales since a MM fund is effectively always stable at $1/share.
And if you’re familiar (and OK with) DRIP investing for some of your portfolio, Stockpile’s method is pretty much the same thing as a direct DRIP account.
Stockpile is definitely not for day-traders, or even active traders. But for a long-term hold for certain Dividend stocks, it would probably be fine – except for the whole customer service part of the equation which apparently they suck at pretty badly.
No ACH out fees. I use them currently. Well, to be more accurate, I haven’t put anything else in the program in a few years since they killed the gift cards though.
This is huge. MS-ers gonna blow thing thing up in less than week.
blow *this thing up