#Robinhood vs stockpile full#

It’s surprisingly easy to set up your Stockpile account and get started. Trades are free, and you can use a debit card to fund the trade at no additional expense. So if you want to use Stockpile as your broker, its easy-to-use interface makes that a snap. While it focuses on gift cards, Stockpile allows anyone to apply for an account and trade stock.

It’s a good way to make sure that all your cash is working for you in the market.

#Robinhood vs stockpile full#

Even if you give a $50 card, the full amount will be used to buy stock, whether that’s a full share or less than one.Īnd if you’re using Stockpile as your regular broker, you can take advantage of the same perk. So you don’t need to put enough credit on a card to buy a full share, which sometimes runs into the hundreds of dollars. Stockpile’s gift cards and its regular brokerage offering allow you to purchase fractional shares in stocks. More recently, Stockpile had added the ability to give e-gifts of cryptocurrency. It doesn’t cost any additional fees to purchase gift cards for stock, and the recipient doesn’t pay anything to redeem the gift card. You can buy e-gift cards that can be loaded with values from $1 to $200. Stockpile’s biggest hook is the ability to give stock, and you can literally charge stock – or at least a gift card for stock – to your debit card. Pros: Where Stockpile stands out Easy to give stock and cryptocurrency The Stockpile mobile app is available on the Apple App Store and Google Play Store $4.95 per month or $50 annual account fee $75 transfer-out fee $5 inactivity fee on accounts that have less than $20 and are inactive for 90+ days. Cryptocurrency has a 1-2 percent spread markup included in prices. No fees for trading or for purchasing gift cards. Introducing younger relatives to investing Stockpile does offer the basics, including some educational elements, but those looking for even a little bit more may need to step up to another investor-friendly broker such as Fidelity Investments or Charles Schwab, both of which also offer custodial accounts. If you’re looking to give stock or cryptocurrency, Stockpile is an easy way to do so, though users should note that holding assets here requires an ongoing monthly or annual subscription.

Of course, anyone can still invest at Stockpile, especially if you want a stripped-down interface, though the app performs only basic investing tasks. Stockpile allows you to buy gift cards that are redeemable for stock or crypto and lets you set up custodial accounts for a minor, making it easy for a young person to get started. Stockpile may be the service for you if you’re looking to give a gift of stock or cryptocurrency to a child, perhaps to spark their interest in the world of finance.