To provide some context, I have a Schwab account, and I am unable to purchase fractional shares, which is why I’m looking for a way to buy half or a quarter of a share. I thought this might change after Schwab acquired TD Ameritrade, but it seems that Schwab only allows fractional shares for select companies. I don’t have much money and would really just like to invest in a fraction of a share. Is that too much to ask? Anyway, I would appreciate any guidance on how to make this happen.
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I couldn’t jump brokers with it alone. Perhaps try concentrating on ETFs while you build up your account if your funds are so limited that you are unable to purchase entire shares. You know, a small portion of Amazon, Nvidia, or whatever won’t change your life. The best strategy is to increase your capital and remain patient.
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To be truthful, I would personally prefer to purchase some shares for about $1000 and then sell them if they drop, but it’s difficult to do so at that price if you don’t want your stake to grow too big.
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Also those stocks are in the very low triple digits now.
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Yes, I use fidelity for that reason. shares in fractions of almost everything.
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For all SP 500 stocks, Schwab offers fractional shares.
Naturally, if you wish to invest in index funds, mutual funds, etc., you can do so for as little as $1.
You can get in touch with Fidelity to find out if they provide fractional shares for additional stocks.
Creating a second account, like at Fidelity, is an additional option.
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I also recommend Fidelity.
If you assume you will be there for a long time and plan to invest regularly, what might seem like a minor annoyance now could become quite frustrating over time. Since you are still relatively new, I suggest making the move now. It’s much easier to transfer while your account is still fresh rather than later when you have a well-established account with thousands of tax lots to deal with.
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It makes no sense to stay somewhere where you are unable to achieve your goals if your broker is preventing you from purchasing partial shares.
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Do they have no intention of permitting fractional trading? Since Vanguard currently provides etfs, I would think that all major brokerages are attempting to do the same in order to remain competitive.
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Of course, why not? Bring the other impoverished people over to Robin Hood.
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In my opinion, you shouldn’t purchase shares if you are purchasing fractional shares. Use the money to purchase a mutual fund.
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I primarily intend to invest the funds in an ETF or fund. I don’t now have the money to purchase an entire share, and whenever I start earning money, I want to contribute a certain amount to that fund rather than just purchasing a set number of shares.