How to Cancel a Stockpile Account in 2024
Stockpile Account Cancellation Fee
Stockpile does not charge a closure fee for a non-IRA brokerage account, unless you are canceling the
account by transferring it to another company (see below).
Stockpile ACAT Fees
If you want to move your Stockpile account to a different firm through ACAT, Stockpile will
charge you a $75 fee for an account transfer. If you move your account to
Robinhood,
they will reimburse this ACAT fee.
How To cancel Stockpile Account
To close a Stockpile account, you first transfer your cash to your bank or another firm. If you have
stocks, you can either sell them or transfer to another broker. After that, you can submit an online
request to cancel your Stockpile account.
How Does Stockpile Compares to Other Brokers?
Trades at Stockpile are 99¢ each; and not all stocks are available.
Stockpile is not the only broker that offers fractional-share trading.
The most recent entrant into the realm of fractional-share trading is Charles Schwab. In addition to its
mobile app, the broker offers website trading, a desktop platform, and a long list of other products,
including mutual funds, options, and bonds. Trades of stocks and ETFs are free.
Our Recommendations
Beginners: Robinhood has done a good job of simplifying the investment process. Community aspect of
the app, which almost no-one else offers, could be invaluable for new investors.
Mutual Fund Investors: Obviously, Stockpile won’t cut it here. We can recommend
Firstrade,
though.
Individual Retirement Accounts: Stockpile doesn’t cut it here, either.
Charles Schwab would be
a good pick.
Active Stock and ETF Trading: Due to the lack of adequate trading tools, we cannot recommend
Stockpile for frequent equity trading.
Webull would be a good choice.
Long-Term Investors and Retirement Savers: Once again, Stockpile fails to get our stamp of approval.
Charles Schwab would be a better road to take.
Small Accounts: Robinhood is one of the best brokers for small accounts.
It offers $0 trades, but many companies offer similar pricing. What sets Robinhood
app apart from the others is community sharing and easy investing in partial shares. But the most unique
feature of the app is high interest of 5% on cash
balances.
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