FAQ

What are fractional shares?

A portion of a share of equity stock that is less than one full share. For example, you can own 0.2 shares of Apple stock (ticker symbol: AAPL) instead of a whole share.

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FAQ description

How do I sell my stock(s)?

You can place a sell order on a stock you wish to no longer hold in the ticker detail page of that respective stock. You can find this by going to your portfolio and clicking on the stock ticker under "My Holdings" or under "Stocks To Trade". We currently only support market orders, which means your order will be placed at the next best available price of the security.

In is also possible to sell the whole amount of a stock you hold. To do this, when placing a sell order, leave the dollar value of the order as '0'. This way, the "Sell All" button will appear and enable you to sell your whole selected stock possession.

*At Bits of Stock, we practice notional trading. This way, you consider the dollar amount value of a stock at its spot price, not the actual amount of stock.

What is stock settlement?

The settlement marks the official transfer of securities to the buyer's account and cash to the seller's account. For most stock trades, settlement occurs two business days after the day the order executes, or T+1 (trade date plus one day). For example, if you were to execute an order on Monday, it would typically settle on Tuesday.

How do I buy shares of a stock?

You can place a buy order for a value of dollars of stock, which you would like to own more of in your brokerage account. Go to your portfolio and click on the stock you would like to in the stock ticker page or click on the stock in "Stocks To Trade". There, place an order to buy. You can place a market buy order to own more share value of the respectively selected stock.

*At Bits of Stock, we practice notional trading. This way, you consider the dollar amount value of a stock at its spot price, not the actual amount of stock.

What order type can I use if I sell my shares of stock?

Currently, we only support market orders for trading stocks. This order type denotes buying or selling stock at the next best available price at the market.

How do I withdraw my funds from my brokerage account?

You can withdraw any settled funds from your brokerage account by clicking the "Withdraw" button in your portfolio. We only support withdrawals through ACH, meaning you need your account and routing/ABA number. It can take up to a few business days for the funds to reach your bank account.

How do I know that my information is secure through Bits of Stock?

Safety is a top priority at Bits of Stock. We use bank rate levels of encryption to protect our users' account information.

What is the most I can get rewarded in each month?

There is a monthly cap set by your account provider that determines how much you will be able to claim in fractional shares on a monthly basis. Once you reach the predetermined limit, you will no longer earn rewards on eligible transactions. This monthly cap varies per partner, so different users may experience different cap amounts.

There is a monthly cap set by your account provider that determines how much you will be able to claim in fractional shares on a monthly basis. Once you reach the predetermined limit, you will no longer earn rewards on eligible transactions. This cap varies between our partners, so different users may face different monthly limits, depending on which of our partners they are with.

Where does my money go when I sell my shares of stock?

When you sell a stock position, your money will go into your "Buying Power" which can be found in your portfolio. You can use this to buy other stocks or withdraw the money into your bank account. Just like when buying stocks, the settlement period for selling shares is one day, or T+1 (trade day plus one day). So, if you execute a sale on Monday, it would typically settle on Tuesday.

How often do rewards get posted?

Rewards are only valid for posted transactions. Once a transaction is in a posted state it will trigger a reward. The rewards are updated every day in 1-hour intervals.

What happens if you redeem or place orders outside of market hours?

Stock rewards can be redeemed outside of market hours. Redemptions will go into a pending redemption state until the market opens and the order can be placed.

However, placing orders and selling is only possible during market hours.

*Market hours are weekdays (Monday-Friday), 9:30 - 16:00 EST. The times are also specified in your Bits of Stock portfolio.

How can I view my documents?

You can find all your brokerage documents under the Documents module. The module contains your trade confirmations, monthly statements, and tax documents.

The 'Trade Confirmations' are daily documents in which each trade is officially confirmed. It also contains additional information, like trade and settlement date about each trade.

In the 'Monthly Statements', your positions, cash balances and other trade activity can be found. The statements are automatically generated for you every month.

The 'Tax Documents' tab holds any tax information you may need regarding your Bits of Stock brokerage account, including tax instructions for your tax filings.

How can I view my documents?

You can find all your brokerage documents under the Documents module. The module contains your trade confirmations, monthly statements, and tax documents.

The 'Trade Confirmations' are daily documents in which each trade is officially confirmed. It also contains additional information, like trade and settlement date about each trade.

In the 'Monthly Statements', your positions, cash balances and other trade activity can be found. The statements are automatically generated for you every month.

The 'Tax Documents' tab holds any tax information you may need regarding your Bits of Stock brokerage account, including tax instructions for your tax filings.