The problem was the stocks he wanted to invest in were too expensive to purchase as a gift.Īnd for stocks he found not to be too pricey, he found it was a major hassle just to buy the stock. He wanted to give them something that would benefit them. He wanted to buy his nieces and nephews something other than toys for the holidays. Stockpile was created a few years ago by Avi Lele. Are there any complaints against Stockpile?.Are there any minimum balance requirements?.How can my grandchild/child/niece/nephew buy additional stock?.Is there a limit to how much stock I can buy at one time?.Am I stuck with the stock the gift card is for?.How do I give free stock as a gift with Stockpile?.What stocks are available for purchase?.

Here is my detailed Stockpile app review. Stockpile is a new broker that makes it simple to give the gift of stock to kids and for kids to get started investing at a reasonable cost. This is great, but doesn’t solve the issue of opening an investing account for kids.īoth of these issues are solved with Stockpile. Using the Amazon example above, you would buy $50 worth of Amazon stock and own 0.015 shares. This is where you can buy a percent of stock. The solution is called buying a fractional share of stock. Most grandparents were thinking of gifting little Johnny $50 for his birthday, not $3,300! They know companies like Disney, Hasbro, Domino’s and others.īy owning shares in these companies, kids take more of an interest.Īt the time of this writing, in order to buy one share of Amazon, you need to have close to $3,300. While some kids might be excited about mutual funds, most are more into individual stocks.

Then there is the issue of actually investing the money and keeping the kid’s interest. While many larger brokers allow for custodial account for minors, many of the newer investing apps and brokers do not. You need their social security number and other documents just to open the account. Since they are under 18, they cannot open a brokerage account themselves.Īs simple as this sounds, it is more involved than you think. One of the biggest challenges is investing for your children, grandchildren, nieces or nephews.

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Stockpile app closed my account