Valerie F.
Austin, TXMember since January 2019

Reviews (1)


    • Jan 8, 2019
    • Verified Reviewer

    Stockpile

    Terrible, would give ZERO stars

    I used $50 worth of Verizon reward cards to "buy" stock. I went in to check one day and there was ZERO in my "portfolio." I emailed Stockpile, and this was the response:

    Thanks Valerie, the reason is that Volkswagen AG has terminated its sponsored ADR program. As a result, there is no longer a liquid market for VLKAY and the shares are no longer trading as confirmed by a lack of quotes from financial sources such as Nasdaq and NYSE. Stockpile is no longer accepting or able to fill trades on VLKAY due to the lack of a market for VLKAY. This is beyond the control of Stockpile and is an inherent risk of dealing in non-domestic securities.

    Current Stockpile clients holding VLKAY ADR will only be offered the default cash option as Stockpile does not offer, or trade foreign stocks and we do not offer or trade unsponsored ADS or American Depository Shares.

    Terms of the default cash option are as follow: On or after February 11, 2019 JP Morgan acting as the depositary will sell the securities represented by VLKAY and distribute the proceeds for the pro rata benefit of the registered holders of the VLKAY ADR that have not be surrendered. For more information, please visit the link below. No further action is required on your part as Stockpile will only support the default cash option.

    I WOULD not "invest" with Stockpile. Thankfully it was reward cards, but still...I should have used those reward cards at Starbucks or GAP and actually enjoyed something. A pile of crap company.

    Bottom Line: No, I would not recommend this to a friend

    7 people found it helpful

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