Best Platforms to Buy and Sell Pre-IPO Stock in 2026
Although pre-IPO investing offers access to high-growth companies before they go public, finding trustworthy platforms can be tricky. Unfortunately, this sector is often characterized by limited transparency, unclear eligibility requirements, and private share rules. That is why you must understand the landscape before diving in.
One major challenge is knowing where to buy or sell shares without overpaying or facing unnecessary restrictions. Unreliable platforms pose risks of illiquidity and high fees. This updated August 2026 guide discusses the best platforms for buying and selling pre-IPO stocks.
MicroVentures
A platform that connects everyday and accredited investors with early-stage startups and late-stage private companies, allowing them to invest.
- Who it’s for: Non-accredited and accredited individual investors looking to fund private startups. Also for early to late-stage private companies and founders seeking capital.
- Best feature: Allows non-accredited investors to co-invest alongside professional venture capitalists in early-stage startups, often with as low as $100.
Pro tip: Always diversify across startups and request lower investment minimums on campaign pages.
Pricing/fees: A 5% placement fee and a 0.50% management fee. Other fees include carried interest, which is 10% of profit, and offering costs, which are usually 1.5% of the capital contribution.
Accredited investor requirements: A net worth of over $1 million, an annual income of over $200,000 for two years. Someone with a Series 7, Series 65, Series 82 license, or other similar financial designations also qualifies. Banks, firms, or companies with assets exceeding $5 million qualify.
Use cases: Purchasing private shares with low minimums, trading in the secondary market for liquidity, and accessing diversified portfolios through managed funds.
Company-specific data points: The company has facilitated over $700 million in investments, including early-stage investments in Palantir, Uber, Slack, Pinterest, and DocuSign.
Regulatory context: Operates via its SEC-registered, FINRA/SIPC-member arm, MicroVenture Marketplace, Inc.
Alternatives/competitors: Equity crowdfunding and private market platforms.
Marketplace mechanics: The company evaluates startups and provides investment opportunities, typically requiring holding periods for illiquid assets until an exit event happens.
MicroVentures is a platform enabling retail and accredited investors to access early-stage startups and late-stage pre-IPO shares. Since venture capitalists and growth investors poured $425 billion into over 24,000 private companies in 2025, the company facilitates this kind of funding for startups. It permits a minimum of $100 for equity crowdfunding and $50,000 for secondary market transactions.
Pros
- Low minimum investments of $100
- Accessible for non-accredited investors
Cons
- Charges various fees
Hiive
A two-sided marketplace that allows accredited and institutional investors to buy and sell pre-IPO shares of private, venture-backed companies.
- Who it’s for: Institutional and accredited investors, private company shareholders looking to sell pre-IPO shares.
- Best feature: Live order book that displays real-time bid and ask prices across hundreds of securities.
Pro tip: Verify accredited status, plan for minimum deal sizes around $25,000, and use the order book for transparency.
Pricing/fees: Charges transaction-based fees of up to 4.85% for buyers and up to 5.75% for sellers, applied only after transactions are closed.
Accredited investor requirements: A net worth of over $1 million, or an income of over $200,000 (or $300,000 with spouse or partner) for the last two years. Investment professionals in good standing are also eligible.
Use cases: Price discovery, trading for accredited investors, liquidity options, private listing options for sellers, and secondary trading for issuing companies.
Company-specific data points: The company currently has over $2B of live securities orders, with Gecko Robotics raising approximately $349 million across multiple rounds,
Regulatory context: The company is a member of FINRA/SIPC and follows SEC rules and issuer transfer restrictions.
Alternatives/competitors: Companies offering similar liquidity and data services, such as the Nasdaq Private Market.
Marketplace mechanics: The platform provides a live order book for price discovery and uses managed funds to facilitate transactions and navigate company transfer restrictions.
Hiive is a marketplace for pre-IPO company stocks, connecting accredited and institutional investors with sellers. According to its LinkedIn profile, it is a liquidity platform for private companies. Given that global private equity investors completed 19,093 transactions in 2025 alone, the platform also offers pre-IPO stock analysis. For instance, buyers can get investment insights for Gecko Robotics on Hiive before making an investment decision.
Pros
- Real-time price discovery
- Reduced fees
Cons
- A high minimum
Carta
A software platform that offers equity management, valuations, and compliance for both startups and venture capital investors.
- Who it’s for: Startups, private companies, venture capital, private equity funds, employees, and early investors.
- Best feature: Cap table and liquidity integration that automatically updates the master capitalization table as soon as a secondary trade, tender offer, or share transfer closes.
Pro tip: Use the free “Carta Launch” tier if you have fewer than 25 stakeholders and have raised under $1 million, then upgrade to a paid tier.
Pricing/fees: Free for early-stage companies with under 25 stakeholders and up to $1M raised. However, Carta offers the Launch, Build, Grow, Scale subscription tiers based on the number of stakeholders.
Accredited investor requirements: Requires individuals to have an annual income of over $200,000 or a joint income of over $300,000 for the past two years. People with a net worth exceeding $1 million (excluding primary residence) also qualify.
Use cases: Managing electronic equity issuance, tracking shareholder ownership, executing company-sponsored liquidity events, and employee tender offers. Performing compliant annual 409A stock valuations, automating venture fund back-office administration, and tax reporting.
Company-specific data points: There are over 50,000 private companies on the platform and assets worth over $4.5T.
Regulatory context: Bound by U.S. SEC regulations under Regulation D for accredited investors, and the Investment Company Act of 1940 for private funds and secondary transfer compliance.
Alternatives/competitors: Other fund administration, cap table, and fund administration platforms.
Marketplace mechanics: Allows participating investors using Carta’s Fund Administration to express direct interest in secondary buys and sells via integrated platform buttons.
Carta is a software platform that connects private capital markets. It provides cap table management and fund administration, especially with venture-backed exits totaling $217.1 billion across 1,463 deals in 2025. The platform supports pre-charter liquidity/secondary transactions for venture-backed startups, employees, and institutional investors.
Pros
- Eliminates manual spreadsheet errors on cap tables
- Simplifies financial reporting
Cons
- Might be complex for very early-stage companies
Augment
A secondary marketplace that connects accredited investors and shareholders for private stock transactions in pre-IPO companies.
- Who it’s for: Individual accredited investors, startup shareholders, venture capitalists, family offices, syndicates, hedge funds, and institutional funds who want to buy and sell private stock.
- Best feature: The platform’s zero management fees or carry.
Pro tip: Open and pre-fund an Augment Cash Account to bypass slow wire transfers and execute private market deals instantly while reducing fees.
Pricing/fees: There are no ongoing management fees or carried interest, but the platform requires a $10,000 minimum investment and charges brokerage fees.
Accredited investor requirements: Individuals must have an annual income of $200,000 or more over the past two years or a net worth of $1 million or more. An active Series 7, 65, or 82 license also counts.
Use cases: Facilitating employee equity liquidity, venture capital portfolio rebalancing, and direct access for buy-side investors.
Company-specific data points: Augment secured $12M in Series A funding and facilitates tracking of major companies such as OpenAI, SpaceX, and Anthropic.
Regulatory context: The company is FINRA-registered and also registered with the SEC.
Alternatives/competitors: Institutional marketplaces like the Nasdaq Private Market or other retail-friendly platforms.
Marketplace mechanics: A global order book, real-time pricing for accredited investors, and investment in Collective funds.
Augment is a secondary marketplace that facilitates the trade of late-stage, pre-IPO stock among accredited investors and company shareholders. It features self-serve price discovery, real-time data, and monthly pre-IPO deals with no management fees through Augment Collective. While over 4,000 private equity-backed companies have been held for six or more years, this platform still allows direct transactions for hundreds of private firms.
Pros
- Lower minimums starting at $10,000
- No management fees
Cons
- Limited price transparency
Comparing Pre-IPO Stock Marketplaces
Your choice of a marketplace is among the most important factors when investing in pre-IPO stocks. Some platforms offer more liquidity and friendlier terms than others, especially as companies remain private much longer than before, per a 2025 SEC report. This means you must assess these platforms carefully prior to making a deposit. Here is how these top options compare:
| Pre-IPO Stock Marketplace | Key Feature | Best For | Limitation |
|---|---|---|---|
| MicroVentures | Low investment minimums | Retail investors | Multiple fees |
| Hiive | Live order book | Accredited investors | High minimums |
| Carta | Integrated equity management | Startups and funds | Can be complex for early-stage companies |
| Augment | No management fees | Private-stock investors | Limited price transparency |
Conclusion
The Problem: When you choose the wrong pre-IPO stock marketplace, you expose yourself to high fees, limited liquidity, restricted access, and difficulty exiting. Some platforms also have high investment minimums or strict eligibility requirements.
Key Takeaway: Choose a pre-IPO stock platform that fits your investment budget, accreditation status, risk tolerance, and preferred level of liquidity. Compare fees, minimum investments, available companies, and trading features beforehand.
Next Steps
- Determine whether you meet the platform’s investor eligibility requirements
- Set an investment budget and review minimum investment amounts
- Compare fees, liquidity options, and available private companies
- Review holding periods and restrictions on selling shares
- Diversify investments and assess the risks before committing funds
FAQ
Can non-accredited investors buy pre-IPO stocks?
Some platforms allow non-accredited investors to participate in selected private offerings. However, investment opportunities, eligibility, and minimum investment requirements vary.
Are pre-IPO stocks easy to sell?
Pre-IPO shares are not always easy to sell because they are generally less liquid than publicly traded stocks. Many platforms have holding periods, transfer restrictions, or limited secondary market opportunities for selling them.
Why do some platforms require accredited investor status?
Many private stocks are available only to accredited investors due to regulatory requirements. These requirements determine who can participate in these high-risk private investments.
