About Stocks {FAQs}

Learn all about our Stocks Product!

Christine avatar
Written by Christine
Updated over a week ago


  1. One-time Stock Access Fee (To sign up and access the product)$10

  2. Monthly Maintenance Fee$1

  3. Trading Fees (Effective January 22, 2024)

    1. For transactions below $10,000 ➡ 0.15% of the value of the transaction (We have reduced this fee from 1% to 0.15%)

    2. For transactions above $10,000 ➡ $15 fixed fee

What is a Stock?

Stock is an equity investment. When you invest in a stock, you have an ownership stake in the company that issued it. An individual’s stock ownership represents his or her proportionate interest in a company.

Just like a round cake🎂 sliced into pieces, you own a part of a company when you buy a slice(s). The size of your slice is determined by the amount you paid in comparison to the price of the whole cake.

At Chipper, we provide very basic buy/keep/sell US stock functionality to users. Users with access can:

  • Buy fractional shares with as little as USD 1.

  • Own shares of Facebook, Amazon, Apple, Google, Nike, Netflix and over a hundred more publicly traded companies

You can learn more here.

Frequently Asked Questions

How do I start trading stocks?

As a new user, you can start by downloading the Chipper Cash app and signing up for an account. As an existing Chipper user, please update your app to the latest version to see this feature.

Why can't I see my funds from the stocks I sold? Where is my money?

In keeping with global prices, all stock transactions are now done through your USD wallet.

💡 To view the funds, go to the home screen and select your local currency, then change the view to USD. The funds should be visible. If you have any further questions or concerns, please let us know.

In what countries is the stock product available?

It is available to users in Uganda and Nigeria. More countries coming soon!

When does the stock market Open and Close?

Regular trading hours for the U.S. Stock Market, including the New York Stock Exchange (NYSE) and the Nasdaq Stock Market (Nasdaq), are 9:30 am to 4:00 pm Eastern time on weekdays (except stock market holidays).

This means the Stock Market will open at 2:30 pm Nigerian Time (4:30 pm Ugandan Time) and close at 9:00 pm Nigerian Time (11:00 pm Ugandan time) every weekday. However, the market is closed on weekends and U.S. public holidays. Therefore, any order placed during weekends or when the market is closed would only be executed once the market reopens.

What is the Stock transaction limit?

The minimum limit is $1. There is no maximum limit. You can invest as much as you want.

Any Fee/Charge for trading stocks?

Chipper charges a 0.15% commission when you buy or sell stocks. However, there are no charges for holding stocks in your Chipper account, and you can hold stocks without selling them for as long as you want.

How can I know the best time to buy or sell stocks?

You can learn more about the Stock market by doing more research and following trends. By doing this, you will be able to make better judgment calls on when to buy or sell stocks. However, please note that the Stock market can be volatile.

You can also read more here.

Do I own the Stock shares I buy through Chipper Cash?

Yes, you become a shareholder of any company you purchase on Chipper, and you have all stockholder privileges like receiving Dividends, voting for new board members or company executives, etc.

How long should I hold my stock after buying it?

You can hold a stock for as long as you want; stock investments do not have an expiration date.

What determines a gain or a loss when trading stocks?

When you buy stocks, the fluctuation in the price of those stocks determines whether you make a profit or a loss.
For example, If you buy stocks and the price increases thereafter, you will gain from the price difference. On the other hand, if you buy stocks and the price reduces thereafter, you will lose as a result of the price difference.
In addition, on the Chipper Cash platform, you can also earn dividends when you purchase dividend stocks. Click here to learn more.

What is fractional investing in Stocks?

Just like a round cake🎂 sliced into pieces, you own a part of a company when you buy a slice(s). The size of your slice is determined by the amount you paid in comparison to the price of the whole cake.

Are Low-Priced stocks/Penny stocks available on Chipper?

Penny Stocks are currently not available on Chipper.

Can I invest in ETFs (Exchange Traded Funds) on Chipper?

Yes, ETFs are available on Chipper.

What Stock order types does Chipper Cash support?

Chipper currently supports market orders and limit orders.

How can I cancel a pending Stock order?

  1. Go to your Invest tab and select Stocks

  2. Select the specific order you'd like to cancel under the Pending Orders list

  3. Tap Cancel Order

  4. Reconfirm the transaction by clicking on Cancel Order on the reconfirmation page

  5. You should get a successful transaction confirmation and your order should be cancelled immediately

How do I get my dividends on Chipper?

If you invest in a dividend-paying stock, your dividend will be paid directly into your Chipper wallet.

What is the Pattern Day Trading rule and how can I be sure I'm not breaking it?

A pattern day trader (PDT) is an individual who completes four “day trades” within a rolling 5-day period. A day trade is when a buy and sell order of the same stock is executed in one trading day.

What this means: A user is not allowed to buy and sell the same company's stocks more than 4 times within 5 consecutive business days. Example: If you buy Netflix stocks on Monday and sell them on that same day, that's a day trade. If the same action is carried out on Tuesday and Wednesday for Netflix, the user would have used up all their day trades. If the user tries to buy and sell Netflix stock again within the 5-day period, the account will be flagged for Pattern Day Trading and subsequently banned from trading stocks on Chipper for 180 days.

Can I set price alerts for Stock trading?

This is currently not available on Chipper. Our product team is working hard to make this a reality.

Safety of Investment in Stocks at Chipper Cash

The Securities Investor Protection Corporation insures your Chipper investment up to $500,000 and stock balances are Federal Deposit Insurance Corporation (FDIC) insured.

What happens to my Stocks if Chipper isn’t available in my country anymore?

Chipper Cash is required to keep all clients’ securities and money separate from its own so that even if the company pauses operations, its clients' assets are safe.

All assets on Chipper are traded through our licensed and regulated partner, Drivewealth LLC, a member of the Securities Investor Protection Corporation (“SIPC”). The SIPC is a US federally mandated, private nonprofit organization created to shield investors from brokerages becoming insolvent. SIPC currently protects the securities in your brokerage account up to $500,000. This means that all stock accounts on Chipper Cash are duly insured by the appropriate entity in the U.S.

In the event that a U.S. brokerage firm ceases to operate, SIPC-covered customer assets are safe and can be transferred in an orderly fashion to another registered brokerage firm. You do not have to reside in or be a citizen of the United States to benefit from this protection.

Please note: The SIPC does not protect against the market risks associated with investing, only when a brokerage becomes insolvent.

Do you need further assistance?

Did this answer your question?