The cash app is now offering investing and all you need is $1 to get started. So in this video, I'm going to break down the pros and cons of the cash app investing app and also let you know if it can compete with Robinhood, acorn or the stash app. 🎁Cash App FREE $5🎁cash.app/app/GNVXDHG
the truth about cash app investing app
I only care about one thing: and that’s transparency: it took me a little over 3-4 hours to find out all the information here because how the info is hidden and spread out.
1. How does the investment work
- Example tutorial on the app showing exactly how it works. Step by step \
- You can buy with your cash app money
- Or you can buy with your debit card add cash limit for example mine is $7,500 had to go on the computer to see it )
- The market opens at 9:30am-4pm eastern
2. How cant I buy something with 1$ is that a scam
No, its called fractional share investing.
Example: google currently cost 1326.96 bucks
Well you can invest 10 and buy a percentage of 1 share
- Once they have enough people, they can combine the orders to make one share and then buy it and split it across the customer
- If the stock is not popular it might take longer to buy
3. Is it free or does it have a hidden fee
- It's free, and theirs no hidden ( and I know you're wondering how they make money)
4. How do they money if it's free
- They earn interest from uninvested money
- That 1% instant transfer
- Order flow ( basically a small fraction of money whenever you make a trade) but that’s another topic for another day, so subscribe
5. How long does it take to sell a stock
- Theirs no info on this, I would assume 1-3 business days that the average on each platform
6. How do I receive my dividends
I will go straight into your cash balance, currently doesn’t seem to have a reinvesting feature.
7. How long does it take to trade stocks
Apparently from videos, I watched its instant, when the market is open. Which no other platform is doing. Everyone does trading windows for fractional shares
- Because it needs to make 1 share
- I'm putting my money that the reason they offer popular stocks is to make it easy to get to 1 share and process the transactions faster.
- However, I doubt it instant
I doubt its instant ( I can almost guarantee it and I hope I’m wrong)
8. Do they have all the stocks and investment securities / ETFs
No, I noticed that they have most of the popular stuff but not all the ETF's like small-cap by vanguard ticker simple “VB”
- Their going mainstream first and maybe later adding more.
9. How good is it compared to other platforms
It's hmm, nothing special.
It lacks some investment but it's not that crazy.
I wish they had a high yield saving to or reinvest feature and more investments to choose from.
10. what should you invest in?
Unless you want me to get sued by the sec I can't answer that question but I can tell you what I do. I invest with acorn and if you want to learn how to pick stocks well read the intelligent investor by graham
Pros
1. Fractional shares ( more accessible to people that can afford 1 share of google for 1000 plus)
2. No fees
3. Easy to Use
Cons
1. It's not Robinhood ( and it doesn’t have a savings yet)
2. Limit of $7,500 per week if using your debit card, might strategic, to have you set up direct deposit)
3. No day trading limited to 3 buy and sales per week
4. Not a fan of the no phone customer service when you get this deep with my money.
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