Stockpile Investing App Review | Money App Review

Today we are going to review the app stockpile that is being marketed to people that don’t have a lot of cash to invest but want to get started and also to parents with kids that want to make them an account.

Big Picture:
- Start investing with just $5
- Buy fractional shares Stocks and ETFs ( over 1000 plus options)
- Free sign up, 99 cents per trade ( buy or sell)
- No monthly fees or minimum

Custodial Accounts:
- Where kids can place trades,a and parents can approve or not
- To get kids engaged in investing
- I think this is a good idea ( as long parents are explaining to kids financial statements and how to Analyst companies and buying them investment books, if not then it's just gambling. )

Broad Selection of Stocks And Eft

Fees:
- 99 cents per trade: assuming that you’re are dealing with kids, then here is the problem with this. ( on average you might be giving your kid $5-$10 to invest even $100)
At $5: 99c is almost a 20% fee instantly
At $10: 99c is almost a 10% fee instantly
At $100: 99c is almost a 1% fee instantly
It's like stealing candy from a baby. It's bad and it's criminal. ( if you buy 5 times a week, that’s $260 bucks years, it's so stupid)

- That’s not all if you sell you still get that 99c fee if you buy with a credit card or debit card you have the 99c fee plus 3%,
- And even giving a kid a gift card Is going to cost you extra money, it may not seem like a big deal to be charged 2.99 plus 3%, but when it comes to investing its stupid. All these fees add up to a lot of wasted gains. (it's like being in a gym with a box of donuts)

Big Problem is:
- These apps want to compete but to compete you have to have low prices and they are afraid of losing market share if the price is too high
- But if you don’t charge money somewhere and offer a decent service, then the business will go to ashes
- For example, acorns cost $1, Robinhood is free but has lending and leverage, m1 finance has lending and other products to make money.
- ( theirs needs to be a way to make money when you offer a good product)

Things I like:
- Reinvest Dividend for free
- Gift card idea ( without the bs fee, just do digital cards)

Missing Features:
- Rebalancing features to keep things good
- No fees ( but maybe a monthly fee)
- Competitive edge (it's just like any other app but worst because in a way its costing kids and parents a lot of money )

How this really Works:
- These companies whenever you buy an investment they need to buy the full share
- And then split among the people that are buying that day
- That’s why these companies usually have trading time, and some have a limited amount of investments available. ( because a stock is not in great demand and only a few people are buying it, it might not be the best idea to offer it )

For example:
- Acorns only offer 6 investments choices
- Robinhood has a massive volume of the investor but still hasn’t 100% rolled out fractional shares
- And big brokerage makes money in other ways and have a large amount of clients also.

Better Options for Kids:
- Acorns:

3 ways to invest with kids:
- You do all the work and tell them why, and how things work
- You teach them investing in and out and let them learn on their own
- Or you speculate and gamble with them

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*Some of the links and other products that appear on this video are from companies in which Tommy Bryson will earn an affiliate commission or referral bonus. Tommy Bryson is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. I'm an Accountant but I'm not your Accountant, always review information with your Accountant/CPA and your Financial Advisor.

[Gallaxyz]

NOTI Gang 🔥 “stock pile” never heard of it till now thankyou Tommy💯

[jacob]

No screenshare. No evidence to prove he his credible. I got the sense that he doesn’t actually do this. He strikes me as one of those that regurgitates what REAL YouTubers say. No anecdotal experience. PASS.

[loripitts]

What is your take on the Greenlight Card for my 14 year old?

[billl]

I have a stockpile for a 14 year old. Stockpile takes $25 a month from my checking account and we wait until there is a balance of at least $100 before we buy. So we pay $.99 commission 3 or 4 times a year instead of $12.00 a year. I will stick with stockpile. I do like the round up feature of acorns for people that can't save.

[capo]

I'm always learning something new from your videos

[AntonioGomez-duzi]

Got a custodial account for both my younger siblings, they are 10 and 15 years old

[SkyHoustonCrypto]

Always a pleasure watching your videos bro 🏆

[FiscalForward]

During a time when the large brokerages are doing free trades it seems strange that someone is charging per trade. So many other options out there

[millionsnette]

Per What is wrong with these SMDH. This seems like a slight regression to old ways. No monthly fees???? Of course not!!! That would be preposterous! Thanks for the info.

[LovelyAngel]

So my impression is Acorn is the best way to go versus stock pile?? I recently downloaded the app for my son... but after watching this.. it makes alot of sense on the added fees for each trade or sell... but I still need to do research...

Btw I am new here to your channel.. tysm for posting this‼️‼️‼️

[arlenemichel]

Great content 🙌 What's a good app for kids to get started on?

[DAILYGambaYT]

I like their marketing tactic. Similar to what RH has done by targeting the younger generation, I think it could be a decent app for starting out! I wish I knew about this when I was like 16 or 18 years old, I would have gotten a ROTH back then haha! Great video

[Isthatxavier]

Do you know an app where you can look at your stocks as a teen?

[donnapoolejackofalltrades]

Stockpile is going to take a lot of time these other stock companies.

[IsthisY]

Stockpile was the first brokerage accounts that I used. You are the first YouTube that I follow that has feared the app on your channel. The down side is the $0.99 per buy and per sell. Also the stock library is not as robust as other platforms.

[aseeds]

So orders can only be put at the end of the day? So if I placed an order of a stock at 3 dollars on the weekend, but it moved up to 3.30 at the end of the next business day. My "pending" order would take which price? I can not cancel either.

[hinfinity]

In 2021 anything with a fee is not worth it 🤷🏾‍♂️ sorry Robinhood changed the game you either follow the wave or get left behind

[danaquass]

How do you switch a investment on a stockpile app to a acorn app and still keep your stock

[siobonbarrett]

Great video! I am trying to teach my 12yo on what the stock market is all about. So i will keep it for her but I will stick with fidelity for me. Thanks so much for the review!

[sampxv]

What's the best app for a 12 year old