Robinhood Reveals Fractional Stock-trading
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Dec. 12, 2019
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The U.S.-based financial services company Robinhood will launch fractional stock-trading, Business Insider reports.

The new function will allow users to invest in portions of stocks and exchange-traded funds (ETFs) with an account minimum of just one U.S. dollar.

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A product manager at Robinhood, Abhishek Fatehpuria, claims the new feature will be launched for a limited number of users by December 16 and full access for all clients in 2020.

"I think the user that we're particularly excited about is the first-time investor that wants to get started and maybe has a couple of dollars. They can build a diversified portfolio with a majority of the stocks they want to own," Fatehpuria added.

However, Robinhood's product manager declined to specify when Robinhood started working on fractional shares.

Earlier iHodl reported that Robinhood withdrew its bank charter application with the Office of the Comptroller of the Currency.

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