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Robinhood Provided the Opportunity to Buy Fractional Shares
Robinhood, a fin-tech startup, provided users with the opportunity to buy fractional shares of popular companies and ETFs.
According to the company, the purchase of shares will take place in real-time with no fee charged. According to Robinhood’s top management, this will help to increase the user base by simplifying access to the stock market.
Robinhood is not the first company to offer its users access to fractional investment. Previously, similar functionality was proposed by Square’s project team and Revolut, a British company.
At the beginning of next year, Robinhood will automatically reinvest dividends that users receive as part of the Cash Management program in shares. It is about the accrual of interest (of 1.80% annually) on unused funds in a brokerage account.
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