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Technology Square’s Cash App officially adds free stock trading, starting at $1

21:55  24 october  2019
21:55  24 october  2019 Source:   theverge.com

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Square tells The Verge that buying stocks on the Cash App won’t have any fees, putting it in direct competition with the popular free stock trading app Cash App does have one leg up on Robinhood, though — Robinhood doesn’t support fractional share trading yet. Stock trading was first rumored to

Square kept introducing new features for its Cash app over the past years until it' s no longer just meant for sending and receiving money from friends. Now, Square has revealed that it' s rolling out the ability to buy stocks from within the Cash app . Users don't even have to invest money they can't

Square announced today that you’ll soon be able to invest in stocks using its Cash App, and says you’ll be able to start investing with $1. That doesn’t mean you’ll be able to buy a full share of Apple for a buck, though — you’re going to be investing in a fraction of a share, however much that $1 will get you.

a hand holding a cellphone© Image: Square

This concept, fractional share trading, isn’t quite new — you can already do it with some other investment apps, such as Stockpile or Betterment. It’s even something you’ll be able to do if your money is managed by investment giant Charles Schwab, which said last week that it would introduce fractional share trading to help attract younger customers.

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Square ’ s Cash App started out by letting users send money to friends, and has since expanded into debit cards and Bitcoin trading . While Square doesn’t consistently give updates on how many people are using Cash App , the company said it had more than 15 million monthly active users as of last

Cash App , the bitcoin-friendly payments app from Square , has officially announced stock trading support. With Cash App , users can purchase The firm also added that the stock investment feature will be "rolling out to everyone soon." Bloomberg first reported Square ' s plan to test free stock

Square tells The Verge that buying stocks on the Cash App won’t have any fees, putting it in direct competition with the popular free stock trading app Robinhood. Cash App does have one leg up on Robinhood, though — Robinhood doesn’t support fractional share trading yet.

Stock trading was first rumored to come to the Cash App earlier this year. Investing isn’t entirely new to Cash App, as you can use the app to buy Bitcoin already, but this will be on a much larger scale, as there will be many more potential investments to choose from. With the addition of stock trading, Cash App becomes that much more useful as an all-in-one money manager for moving money between peers, investments, and your bank.

Investing on Cash App should be rolling out to all customers in the coming weeks, according to a Square spokesperson.

Zero-Commission Trading Is Coming to Crypto .
Zero-fee trading first came to exchanged-traded funds and then to online stock and option transactions. Now the strategy is spreading into the cryptocurrency sphere. require(["medianetNativeAdOnArticle"], function (medianetNativeAdOnArticle) { medianetNativeAdOnArticle.getMedianetNativeAds(true); }); Seen as the most profitable sector of digital-asset world, trading platforms are feeling the pressure as industry heavyweights such as Binance Holdings Ltd. and BitMex grab market share with both trading volume and coin prices sagging.

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