Investing With Cash App

investing with cash app

Cash App, a popular P2P payment app that lets users send and receive money, has launched a new investing feature that allows people to buy stocks and bitcoin from inside the app. Designed with beginning investors in mind, the app promises commission-free trades and the ability to purchase fractional shares.

The Cash App investing features are offered through Cash App Investing LLC, a member of FINRA and SIPC. The brokerage is built into the app, so it’s easy to use and navigate if you already have the payment platform on your phone.

If you’re looking for a full-featured investment app with a more robust offering, check out Robinhood or Merrill Edge. These brokers offer a wide range of investments, including taxable brokerage accounts and IRAs. They also offer low or no trading fees on a broad selection of stocks and ETFs. They also provide access to margin trading, as well as a mobile-friendly interface and a variety of other tools for investor convenience.

The Cash App Investing features are designed with beginner investors in mind, and the company has made it straightforward to use its new investment tools. You can select a stock from a list of curated options or search for another ticker in the app’s search bar. The app will then display a price chart and a summary of the company. You can then decide if you want to buy or sell the stock.

Once you’ve selected a stock to buy or sell, the Cash App will automatically calculate the number of shares you have in that particular company. You can also manually enter a specific amount you’d like to purchase or sell if you prefer. The app will also provide a few preset amounts to choose from, but you can always adjust the amount you wish to buy or sell at any time.

You can also easily track your purchases and sales with Cash App’s Detailed Portfolio feature. It’s a great way to keep an eye on your investments and find out when you may want to reconsider your position in certain stocks.

To access your Detailed Portfolio, open the Cash App and tap the Money tab, which looks like a green $ with a white dollar symbol ($). Then scroll down and tap Investing. The Cash App will then show you a list of the stocks you own. To see a more comprehensive list, you can also click on the Stocks Owned tab at the bottom of the screen.

While Cash App’s investing feature is easy to use, it does have a few drawbacks. For one thing, you can only trade hundreds of stocks and ETFs. In addition, you won’t have access to other assets such as mutual funds or futures. Moreover, Cash App doesn’t allow you to create a joint or individual retirement account. Despite these limitations, it’s an excellent option for beginners who want to begin dabbling in the stock market with a small amount of money.