Enable and Buy Fractional Shares in Robinhood
This article will give you step-by-step instructions on how you can enable and buy fractional shares of
different stocks using the Robinhood app.
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different stocks using the Robinhood app.
- Open the Robinhood app on your iPhone.
- Once the app is opened, tap on the Search icon that looks like a magnifying glass at the bottom center of the screen.
- Search for the stock you in which you want to buy a fractional share from by typing in the symbol for the company stock.
- Once you have selected the particular stock, you will see the trading price for that particular stock. If you want to buy only a fractional share of the product, tap on Buy.
- Once you tap on Buy, tap first on the drop-down next to Market Order to enable the option to buy fractional shares.
- Once you tap on the drop-down, you will see an option at the bottom saying that you’re off the list and you can now buy fractional shares. Tap on Get Started to be able to do that.
- Once you tap on Get Started, tap on the option at the bottom of the screen which says Continue.
- The next screen will teach you how fractional shares work, how transactions are rounded, and how you get dividends if you own a fractional share. After you read all of it, tap on Continue at the bottom.
- Once you tap on Continue, you will see the agreement. Once you read all the agreement, tap on Accept at the bottom of the screen.
- On the next screen, tap on Done.
- You will see an option to buy fractional shares on the next screen. You will have an option to buy fractional shares either in dollars or in shares.
- Tap on Buy in Dollars, and then enter the dollar amount you want to buy.
- Once you have entered the dollar amount, tap on Review. Keep in mind that this will be a market order and that Robinhood will try to buy the dollar amount worth of you have entered.
- On the next screen, you will see how many fractional shares you will get based on the market price. Once you review the transaction details, swipe up to submit your order.
- Once the order is submitted, the order will be placed, and you will see that the shares have already been purchased. Afterward, tap on Done.
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