In this article, you will learn how to set up a recurring investment on Robinhood. There are multiple frequencies and schedules to choose from in the app. Keep reading to find out the options for recurring investments on Robinhood’s mobile and desktop versions.
What is a Recurring Investment in Robinhood?
Recurring investments on Robinhood let an investor buy into stocks or ETFs on the app automatically with a custom schedule. Robinhood has a range of settings to choose from for the schedule setup. Below I’ll go over the various options and where you can find the recurring investments on the app.
Below is the short version of the steps to follow for setting up a recurring investment on the app, and later in the article, I’ll go in-depth on each step and other important questions:
- Open the App and Select a Specific Stock or ETF
- Scroll Down Below the “Your Position” section and Look for the “Recurring Investments” Section
- Tap “Create *Ticker symbol* recurring investment”
- You will Now See Multiple Options for Setting up a Recurring Schedule
Set up a Recurring Investment on Robinhood (Mobile App):
Open the App and Select a Specific Stock or ETF
When you open the Robinhood app, it should start in the “Investing” tab, which is where you can stay to set up the recurring investment for a stock. Scroll through the to find a specific stock you hold in your portfolio that you want to set up recurring investments with. Now tap into the stock, and you can follow the step below.
Scroll Down Below the “Your Position” section and Look for the “Recurring Investments” Section
After opening a specific company or ETF in the app, you can scroll past the “Your Position” section. This section has your share amount and returns for the company. Below that is where you will see the “Recurring Investments” section.
Tap “Create *Ticker symbol* recurring investment”
Once you open this, you will see an option that says, “Choose a frequency,” this is where you can select from a choice of options to schedule the recurring investment. The first selection is the date highlighted in green, allowing you to choose when the recurring investment starts on Robinhood.
There Will be Multiple Options for Setting up a Recurring Schedule
There are going to be numerous options to choose from regarding the frequency of the recurring investment. The four options you will most likely see are: “Every market day,” “Every week,” “Every two weeks,” and “Every month.”
Each option has a day and time when the stock or ETF will be purchased. Robinhood states on the app, “Orders will be processed every day the market is open between 11:00 AM and market close.”
Let’s go over the four options and which days the stock is purchased, depending on the schedule frequency. First is “Every market day,” which will set the recurring investment up to invest every day, Monday through Friday.
The second option, “Every week,” will purchase (invest) in the stock or ETF on the specific day you choose to start, once a week.
The third option, “Every two weeks,” will purchase (invest) in the stock or ETF on the specific day you choose to start, bi-weekly.
The fourth and last option is “Every month,” which will purchase (invest) in the stock or ETF on the number day you choose to start the recurring investment on.
Set up a Recurring Investment on Robinhood (Desktop Platform):
The desktop version of Robinhood will have a similar process for setting up recurring investments on Robinhood. Let’s go over the steps briefly, and you can also follow the pictures below.
Log into your Robinhood Account
Like the mobile app, you will likely start in the “Investing” tab.
Click “Account” in the Top Right Corner
Look for the “Account” tab in the top right corner and click it to see a list of options. Look for the “Recurring” section on the list.
Select “Recurring” on the List of Options
Open the “Recurring” section on the list and follow the steps below to get to the recurring investment settings.
Choose Between Stocks and ETFs
There will be an option to choose between stocks, ETFs, and cryptocurrencies in the section for recurring investments.
Click “Create Recurring Investment”
After selecting the option above, you can set up the recurring investment in Robinhood on the desktop version. The interface will look slightly different than the mobile app version, but the settings are the same. You can refer to the above breakdown of each option to see which schedule and frequency work best for you.
Another Way to Set up Recurring Investments
There is another way to set up recurring investments on the Robinhood mobile app aside from going directly into the stock or ETF. You can also go to your profile page, which will be in the bottom right corner.
After going to the profile page, you can select the upper left corner menu button to get to the list of options on the app. The first section on the menu labeled “Investing” is where you find the recurring investments in the menu section of the app.
Where to See Recurring Investments on Robinhood?
After going to the recurring investments part of the “Investing” section in the menu on the mobile app, you can scroll down to see the total amount of recurring investments in your portfolio.
This section is great for seeing “Total invested” in the recurring investments section and how many active/paused recurring investments are in your portfolio. You can also see your “Next order date” in this section.
Where to Pause a Recurring Investment on Robinhood?
In this part of the settings, you will also be able to delete or pause the active recurring investments in your portfolio. The interface on Robinhood makes it easy to find all of these settings right in the mobile app.
Robinhood has plenty of helpful features in the mobile app and desktop versions. There are multiple ways to set up recurring investments in Robinhood, and starting at the settings in the app helps give an overall view of all recurring investment activity in your portfolio. If you want to learn more about investing brokerages, check out more articles by Bookmark Investor.
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