Square is launching stock trading on its Cash App.
Square is bringing free stock trading to its popular peer-to-peer Cash App, and the ability to trade fractions of a stock for as little as $1.
Other fintech start-ups like SoFi have introduced the fractional trading feature for first-time traders who might otherwise be priced out of buying popular tech names like Amazon, Facebook, or Apple. Charles Schwab also introduced fractional trading last week. The San Francisco-based company will offer users the ability to trade individual stock on its Cash App, for free., run by Twitter CEO Jack Dorsey, will also let customers trade fractions of a stock so investors can buy a portion of more expensive names like Amazon.
The new offer pegs Square against Robinhood, which has attracted a $7.6 billion valuation and more than 6 million users with a zero-fee stock trading model. Robinhood was followed by a wave of incumbents like Charles Schwab and Fidelity cutting fees to zero in October.
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