There are many online places where you can buy and sell stocks and make money. But, still a large number of people stay away from investing money in stocks. Do you know why? Because they consider the task of selling and buying stocks quite hectic and troublesome. Surprisingly, the truth is quite different. The Cash App stocks feature has simplified everything. Yes, I am talking about your favorite payment app - Square Cash App. People who have ever used a Cash App to send and receive money, they must be aware of the simplicity that comes with a Cash App payment app. With that simplicity you can buy and sell stocks on Cash App.
How to buy stocks on Cash App? How to sell stocks on Cash App? These questions are quite common when it comes to stock trading on Cash App. Some of you might have asked yourself- Is Cash App good for stocks? If yes then stay connected with this post until you finish reading it. In this helping post, I am going to explain: how to make money buying stocks on Cash App. That's not all, if you wish, you can contact us and get assistance directly. So, let's get started:
Cash App day trading
Can you day trade with Cash App? Answer is yes. Of course, with Cash App you can do day trading. It means, you can buy and sell the stocks on the same day. Note that stock trading on Cash App is subject to your Cash App spending limit. It means, you can use your Cash App balance and linked debit or credit card to buy stocks on Cash App. Your spending limit should not be more than $7500 in a week. Be informed that Cash App lets the traders trade three days within a rolling five day trading period.
How to buy stocks on Cash App?
One best part of the Cash App stocks trading is the fact that you don't require a brokerage account. It means, a little saving is for sure before starting your journey in stock trading with Cash App. Just to buy your first stock and start your journey with stocks on Cash App, all you need is just a verified Cash App account and a bank account linked to your wallet. If you meet these two basic terms, you can follow the below mentioned steps and buy stocks on Cash App.
- Launch Cash App mobile application.
- Tap the investing icon and get into the stock section.
- Scroll down to find and select the available stocks Cash App.
- Then tap buy and enter the amount you want to spend to buy stocks.
- If you are buying your first stock on Cash App then you might have to share some basic details like your professional profile etc.
- After that enter your Cash App PIN and tap confirm once you check all the bifurcation of the stock you are selling.
How to sell stocks on Cash App?
While selling the stocks on Cash App, one must take care of the timings. Remember that Cash App stocks trading runs according to the opening and closing hours of the US stock market. And on weekends the US stock market remains off. Though you can schedule your stock selling on weekend for Monday morning when the market opens and start working after 9:30 am to 4 pm. With the help of the following steps you can sell your stocks on Cash App:
- Open Cash App mobile application on your phone.
- Tap the Cash App investing icon (a twisted line icon).
- The next screen will open up with your total stocks balance and current trend.
- Scroll down to find the companies whose shares you have bought.
- Tap on the company name whose share you want to sell.
- Now look at the total invested money and total gain. If you find yourself in a gaining position, tap sell and proceed.
- After that select the amount in reference to stock you want to sell off.
- Cash App will show you the details about your stocks and transaction you are going to make.
- Carefully check out the details, if everything looks fine then proceed.
- Finally, enter your Cash App PIN and sell the stocks.
How to buy stocks on Cash App under 18?
Take one thing on a serious note that kids under 18 are not allowed to use Cash App let alone stock trading. Even if any minor manages to set up a Cash App account with fake details then such accounts get closed soon with stored money. So, we don't suggest you do anything that might pose a threat to your hard-earned money.
Cash App stocks pros and cons
Let's not forget that every coin has two faces. The same is true with the Cash App stocks feature. It comes with pros and cons. For some reasons Cash App stocks feature is good because it is simple to use, fast, and safe. Also, plenty of stocks from big brands are available. For irregular or unprofessional traders, Cash App investing is good.
On the other hand, if you get close to the ground level you will find the cons of Cash App stocks trading. It does not have investing related tools, screeners, calculators, charting, and tracking features. Due to the absence of stock related research amenities, we don’t recommend it to the professional investors.
Cash App investing fee
As the Cash App stocks trading feature is not made for professional stock investors, it does not offer advanced tools and assistance to buy and sell stocks. That's why Cash App does not charge any fee for selling and buying stocks except a minor Government fee that is dynamic and depends upon the market. While selling or buying stocks on Cash App, this Government fee will come to your view.