Generally, securities that have a share price of over $1 and a market cap of $25 million or more are eligible for recurring investments. However, there are some exceptions. We currently don't support recurring investments for the following types of securities: Inverse exchange-traded funds (ETFs) and inverse exchange-traded notes (ETNs) are designed to track the inverse of a set of stocks or underlying indexes—the idea being that when those stocks fall in price, the inverse ETF or ETN will rise in price. Inverse exchange-traded products are designed for short-term trading. Most of them reset daily or within a short time period and, as a result, are meant to be held and sold on a daily basis. Leveraged ETFs and ETNs use borrowed funds and other financial products (like options contracts) to try to magnify the returns of the index they track. Because the tools used to create the leveraged ETF or ETN are typically short-term tools (for example, most options contracts have short-term expiration dates), holding one of these products as a long-term investment would have returns that are quite different from the underlying index they track. Like inverse ETPs, leveraged exchange-traded products are designed to be used as short-term trading vehicles. Most of them reset daily or within a short time period and, as a result, are meant to be held and sold on a daily basis. As a result, Robinhood doesn't support recurring investments in them. Volatility ETPs track volatility in the market. Volatility is generally associated with uncertainty or fear because a highly volatile market is often one that is losing value. Many of these products track the Chicago Board Options Exchange’s (CBOE) Volatility Index, also known as VIX or the “fear index.” Because volatility ETPs reset daily or within a short time period, they’re meant to be held and sold on a daily basis, so Robinhood doesn't support recurring investments in them. We currently don’t support recurring investments for pre-IPO instruments because investing in a pre-IPO instrument means you’re taking part in the company’s IPO in the primary market (where securities are created) before the instrument trades on the secondary market (where investors trade the security). If you’d like to set up a recurring investment in a newly-listed stock, wait until the first day of trading to do so. Securities might not be tradable for a number of reasons. For example, when a security is in a trading halt because of a corporate action, it might be illiquid (meaning it’s hard to find a buyer or seller), might be delisted (meaning it no longer trades anywhere), or might have a wider spread during extended hours. Recurring investments use dollar-based orders to automatically purchase fractional shares of a stock or ETF. However, fractional trading isn't available for certain securities, so we can’t offer recurring investments in those securities. Fractional trading is also sometimes temporarily unavailable for certain securities because of things like corporate actions, which are events that a companyinitiates that change its stock somehow. You can track the most recent corporate actions in the Corporate actions tracker. Securities that are position-closing only can’t be bought on Robinhood. Securities are set to position-closing only for a number of reasons based on the situation. For example, a security might be set to position-closing only in response to operational changes or government action.Inverse exchange-traded products
Leveraged exchange-traded products
Volatility exchange-traded products
Pre-IPO instruments
Securities that aren't tradable
Securities that don’t support fractional shares
Position-closing only securities
