This year I decided to start investing. My side hustle activities allowed me to have a little extra money. I decided that now was the time to start investing. I signed up with a brokerage company called Loyal3. Loyal3 was a trading platform that allowed you to buy and sell stocks for free. They also allowed you to purchase fractional shares. An example of this is if Tesla is trading at $250 per share, you don’t need to invest the full $250 to get started. You can spend $50 and get a percentage of a Tesla share. That worked for me since I only had a small amount to invest.
Things were going fine with Loyal3 until I received an e-mail from them in March. It stated that their company was shutting down in May. It also said that all of their assets would be transferred to a new company called FolioFirst. While the trades would still be free, each user would be charged $5 per month. That wasn’t going to work for me. I can’t justify having $5 withdrawn from my account each month, especially since I don’t have a lot in there. I had to find a new brokerage fast!
After a couple of weeks of researching, I found a new company to sign up with. It’s called Stockpile. Stockpile was similar to Loyal3, so I decided to give it a chance. Below, I share a few things that I’ve seen since I’ve been investing with Stockpile.
Easy to Set Up
Creating an account with Stockpile is very easy. There are two types of accounts that you can set up. The first one is an individual account. That would be for yourself. The second is a custodial account. That account would be for someone that is under the age of 18. Once you choose your account type, you’d receive an e-mail that would verify your info. Then you would be able to open up your account. Once inside your account, you’ll be able to see things inside your dashboard such as your profile, how to add an account and how to purchase stocks.
Selection of Stocks
Stockpile has a huge selection of stocks. They have over 1000 of them for you to choose from. They have it set up to where you can view different categories. Some of the categories are fashion, tech, and entertainment. There are many famous companies to choose from such as Amazon, Walmart, AT&T, and Nike.
Stockpile offers you the chance to purchase fractional shares. If you’re just starting out with stocks, that is huge. You may not have thousands of dollars to invest. You might want to test the waters out before you jump all the way in. Stockpile allows you to do that. If you want to purchase $10 or $200 worth of stock, you can do it with this brokerage.
Stockpile is very affordable. It costs $0.99 if you buy stock with cash. If you purchase your stock with a credit or debit card, it will be $0.99 + 3%. It only costs $0.99 to sell your stocks as well.
Something that I like about Stockpile is that it is easy for you to get stock as gifts for people. Stocks are a unique gift idea. They are something that can potentially grow a lot over the years.
As you’ve just read, Stockpile is a good brokerage firm. If you’ve been thinking about investing for a while, it’s time. Stockpile is giving all new investors $5 to help them get started. You can get that deal today by clicking this unique link. It’s never been easier to get started with investing. Your future self will be glad that you did it.