Robinhood is a good place to invest
Robinhood: Broker app lets small investors invest 1 cent in stocks
As reported by the Techcrunch portal, the US investment app Robinhood now offers the option of "fractional share trading" and of buying 0.000001 shares rounded to the nearest cent. It is also possible to purchase a share for one dollar without paying a fee.
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“One of our core values is that participation is power,” says Vlad Tenev, Co-CEO of Robinhood: “Everything we do is rooted in it. We believe that fractional share trading has the potential to open up investment for even more people ”.
"Not-yet-rich": share trading via app
This possibility ensures that nobody is excluded from trading stocks because they are not rich. With this campaign, Robinhood hopes to expand its ten million user base to date.
The app has additional functions for those who are "not-yet-rich" by their own designation. A cash management function offers users 1.8 percent APY interest on cash in their Robinhood balance, as well as a Mastercard debit card with which they can spend money or withdraw money from ATMs.
Plan investments in advance with Robinhood via the app
In addition, Robinhood will launch another feature early next year: The Dividend Reinvestment Plan (DRIP) automatically reinvests cash dividends in stocks or funds. With recurring investments, users can schedule daily, weekly, bi-weekly, or monthly investments.
“We believe that if you want to invest, it shouldn't matter how much money you have. With fractional share trading, we are opening up a whole universe of stocks and funds, including Amazon, Apple, Disney, Berkshire Hathaway and thousands of others, ”said Robinhood Product Manager Abhishek Fatehpuria on Techcrunch.
How fractional trading works in stocks
Users can place such “fractional stock orders” in real time during market hours. Shares valued at over $ 1 per share with a market capitalization in excess of $ 25 million are eligible. 4000 different stocks and funds are currently available for commission-free, fractional real-time trading.
"From day one we have focused on removing obstacles like trading commissions and minimum accounts to help people participate in the financial system," continued Fatehpuria. “We have a unique user base - half of our clients say they are first time investors. And the average age of a Robinhood customer is 30. This means we have a unique opportunity to expand market access for this new generation. "
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