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Forge Review 2026: Pre-IPO Share Marketplace

Forge is a marketplace for eligible investors and shareholders to buy and sell private-company shares. Its pricing tools and transaction support are useful, but access, liquidity and deal terms can vary.

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By the DappsAtlas editorial team · Updated Nov 6, 2026

DappsAtlas score

6.2/10

Mixed

Visit Forge

Our verdict on Forge

6.2/10

Forge suits eligible investors, employee shareholders and institutions looking to transact in private-company shares or research private markets. Its main strength is the combination of a buy-and-sell marketplace with pricing signals, data tools and liquidity programs. The central caveat is that private shares are not as liquid or straightforward to trade as public stocks: transactions can require verification, approvals and negotiated terms. Forge does not state its fees or regulatory status in the website text, so confirm both before proceeding.

Score breakdown

How Forge scores

Security: n/a
Ease of use: 6.0/10
Fees: n/a
Features: 7.0/10

Scores run from 0 to 10 and are based only on facts we could verify. Where information was missing we mark the score n/a rather than guess.

What is Forge?

Forge Global operates a marketplace for buying and selling shares in private companies. Its services include individual and institutional trading, private-market data and pricing tools, company-sponsored liquidity programs, and a self-directed IRA through Forge Trust.

Buyers can research companies and available opportunities before placing or negotiating an order. Sellers can add shares or options, validate ownership and engage with buyers. Forge says transactions require signed documents, approvals and settlement; the steps and available opportunities can vary by deal.

The site identifies accredited investors among its intended users and says buyers must verify accredited-investor status. Forge also serves employee shareholders, institutions and private companies. It does not describe the marketplace as an on-chain exchange.

How Forge works

Forge connects buyers and sellers of shares in private companies. Buyers can browse companies and market information, then submit a bid, accept an ask or negotiate. Sellers can add their holdings, verify ownership and list shares or respond to buyer interest. Forge also provides indicative pricing and private-market data to help users assess potential transactions.

A trade is not described as an instant, permissionless exchange. Forge says parties sign documents, complete approvals and settle the purchase or sale. Private-company shares may have transfer restrictions, and an indicative price does not guarantee a buyer, seller or completed transaction at that value.

6 features

Key features

Share marketplace

Buyers can browse private-company opportunities, review market activity and submit bids or negotiate with sellers.

Indicative pricing

Forge Price is described as a proprietary indicative price calculated daily for approximately 200 pre-IPO companies.

Market research

Forge provides data tools, private-market indexes and thematic baskets for researching private companies.

Liquidity programs

Companies can use tender offers and customized programs to provide liquidity to employees and shareholders.

Institutional trading

Forge Pro is presented as an institutional brokerage tool for trading private-company shares.

Self-directed IRA

Forge Trust offers a self-directed IRA for investing in private companies and other alternative assets.

Pros and cons

What we like

Offers both buy-side and sell-side workflows for private-company shares.
Includes indicative pricing and market data to help users research private companies.
Supports company-sponsored liquidity programs as well as individual transactions.
Provides separate tools for institutional trading and private-market research.

Watch out for

Private-company shares can be difficult to sell, and available offers may be limited.
Transactions can depend on company approvals and ownership verification.
Forge Price is an indicative pricing signal, not a guarantee that a trade can be completed at that price.
Fees and the platform’s regulatory status are not specified in the website text.
The platform does not describe an on-chain trading or custody model, so crypto users should not assume trades settle through smart contracts.

Forge fees

Forge does not publish account or transaction fees in the website text. Ask Forge about the charges that apply to a specific trade, and review the transaction documents before agreeing to buy or sell; costs and terms may depend on the deal.

Is Forge safe?

Forge’s website describes a brokerage-style process involving identity checks, ownership validation, signed documents, approvals and settlement. It does not describe smart-contract custody or publish smart-contract audit information; this is not presented as an on-chain exchange.

Private-company shares can be illiquid, difficult to value and subject to transfer restrictions or company approval. Forge Price is an indicative signal, not a promise of an executable trade. The website text does not name a regulator or specify Forge’s regulatory status, so investors should verify the relevant disclosures and legal protections before transacting. Investing is risky and may result in loss. Check that investing through the service is legal where you live; users must meet applicable age and investor-eligibility requirements.

5 steps

How to get started with Forge

1
Create an account and complete the identity and investor-status checks required for the activity you want to pursue.
2
Browse private companies and review available opportunities, pricing signals, bids and asks.
3
For a purchase, submit a bid, accept an ask or negotiate with a seller. For a sale, add your holdings and prepare to verify ownership.
4
Review the transaction terms and any applicable charges before committing.
5
Complete the required documents and approvals, then follow the transaction process through settlement.

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Who Forge is for

Forge may suit accredited investors researching private-company opportunities, shareholders seeking a possible route to sell, and institutions that need private-market trading or data tools. It is less suitable for people who need instant liquidity, transparent public-market pricing or crypto-native, on-chain settlement.

Forge FAQs

What is Forge?

Forge’s website describes a marketplace for private-company shares, along with trading tools, pricing data and private-market indexes. It also offers liquidity programs for private companies and a self-directed IRA through Forge Trust.

How do you buy pre-IPO shares on Forge?

The site says investors register, verify accredited-investor status, research companies and available opportunities, then submit a bid, accept an ask or negotiate. Completing a trade involves signing documents, obtaining approvals and settling the transaction.

How do you sell private shares on Forge?

Forge says sellers register, verify their identity, add holdings and prepare to validate ownership. They can review buyer demand, list shares, negotiate terms and complete a sale after the required documents and approvals are handled.

What fees does Forge charge?

Forge’s website text does not state account or transaction fees. Confirm applicable charges with Forge and review the terms for a specific transaction before committing.

Who can invest through Forge?

The website says buyers must confirm accredited-investor status. Eligibility can depend on the investor and the offering, so check Forge’s current requirements and whether using the service is permitted where you live.

Is Forge a crypto exchange?

Forge describes a private-marketplace and brokerage process, not a crypto exchange. Its website text does not say that trades use a blockchain or smart contracts.

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