shouldiuse.io

VERDICT

Should I use EquityZen?

The marketplace for accessing Pre-IPO shares - equityzen.com

Depends. Buy only if you are an accredited investor comfortable locking up money for years in illiquid pre-IPO shares. Non-accredited investors and anyone needing liquidity should not use it.

Confidence

Medium. Based on ~25 public sources; Reddit and Trustpilot snippets were truncated, limiting quotable user detail.

Ratings

  • Value for money
  • Ease of useNo hands-on usability evidence found
  • Feature depth
  • Support qualityNo direct support evidence found
  • Security posture

Pricing

2.5%

Buyer fee

ModelNot disclosed
Monthly fees2.5%
HardwareNot disclosed
Seller fee2.5%

Best for

  • Accredited investors
  • Startup employees selling vested shares
  • $5K+ pre-IPO exposure

Not for

  • Non-accredited investors — hard gate, no workaround
  • Anyone needing quick liquidity or day-trading
  • Money you cannot lock up until an IPO or resale
  • First-time investors who cannot absorb a total loss

Gotchas - check before you buy

high

You likely hold SPV/fund interests, not shares directly — reviewers call structure the biggest risk

medium

2.5% buyer fee applies only up to $1M — larger investments may price differently

medium

Sellers also pay 2.5%, and Express Deals carry separate seller fees

low

No public security page found on the site

Pros and cons

Pros

  • FINRA-registered broker-dealer, now a Morgan Stanley subsidiary
  • $5,000 industry-lowest minimum after Morgan Stanley reduced fees
  • 51,000+ private transactions completed
  • Broad listings of late-stage pre-IPO companies
  • 4-star Trustpilot rating

Cons

  • Accredited investors only — most people cannot participate
  • 2.5% fee on buys up to $1M; sellers pay 2.5% too
  • SPV fund structures add complexity and structural risk
  • Illiquid: exits wait years for IPO or secondary sale

Sources & method

Analyzed 9/21/2026 - 12 sources - No known vulnerabilities found in the sources reviewed.

official x3review x6security x1news x2

Key stats

  • Value for money: 3/5

    Rating

  • 2.5%

    Starting price

  • 12

    Sources

  • Analyzed

  • Value for money: 3/5. 2.5% per transaction side
  • Ease of use. No hands-on usability evidence found
  • Feature depth: 4/5. SPVs, funds, express deals, broad listings
  • Support quality. No direct support evidence found
  • Security posture: 3/5. FINRA-registered; missing public security page
  • 4/5 Trustpilot rating Customer service reviews
  • $5,000 Minimum investment Industry-lowest after Morgan Stanley fee cuts
  • 2.5% Transaction fee Buys up to $1M; sellers also pay 2.5%
  • 51,000+ Track record Private transactions completed

Pricing

Buyer fee

2.5%

  • On investments up to $1M
  • $5,000 minimum investment

Seller fee

2.5%

  • Charged when selling shares
  • Express Deals carry separate seller fees

Security

No known vulnerabilities found in the sources reviewed.

What users say

Reddit threads and Trustpilot treat EquityZen as a legitimate pre-IPO marketplace with a 4-star Trustpilot rating, though available review snippets are thin on detail.

Companies that use it

  • G2
  • Birdeye
  • Chainguard
  • Neo4j
Full analysis

Based on ~25 public sources; Reddit and Trustpilot snippets were truncated, limiting quotable user detail.

Legit Morgan Stanley-owned pre-IPO marketplace — but accredited investors only, 2.5% fees, multi-year lockups.

Methodology

Based on ~25 public sources; Reddit and Trustpilot snippets were truncated, limiting quotable user detail.

Sources

  1. official
  2. official
  3. official
  4. news
  5. security
  6. review
  7. review
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  10. news
  11. review
  12. review

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