Fidelity lets clients now trade fractional shares of stocks and ETFs

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dacalo
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Re: Fidelity lets clients now trade fractional shares of stocks and ETFs

Post by dacalo » Tue Feb 04, 2020 2:38 pm

Almost seems like vaporware at this point. I don't think I have come across anyone who seems to have this feature yet (Reddit, Twitter, Bogleheads, etc).

pyed
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Re: Fidelity lets clients now trade fractional shares of stocks and ETFs

Post by pyed » Tue Feb 04, 2020 3:03 pm

I was able to buy fractional stocks (AMZN and GOOG) on Jan 31st

https://drive.google.com/open?id=1B1R_D ... 5c6VZGjlyG

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1789
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Re: Fidelity lets clients now trade fractional shares of stocks and ETFs

Post by 1789 » Tue Feb 04, 2020 10:15 pm

Folks i am also not able to this yet. I tried on my phone thou.
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Lyrrad
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Re: Fidelity lets clients now trade fractional shares of stocks and ETFs

Post by Lyrrad » Wed Feb 05, 2020 10:20 am

Last week I was able to place a fractional order from the Android app, but only when the market was closed. I tried again the following day when the market was closed and was unable to place another order. I haven’t been able to place a fractional order when the market was open or from the iOS or iPad app.

mervinj7
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Re: Fidelity lets clients now trade fractional shares of stocks and ETFs

Post by mervinj7 » Wed Feb 05, 2020 1:11 pm

dacalo wrote:
Tue Feb 04, 2020 2:38 pm
Almost seems like vaporware at this point. I don't think I have come across anyone who seems to have this feature yet (Reddit, Twitter, Bogleheads, etc).
My SO has it enabled on their Fidelity Android app, so it's definitely not vaporware. :)
What's really odd is that I don't have it enabled if I login using my credentials even though it's a joint Brokerage account. From the reddit thread, it seems older accounts like mine (a couple of decades) are getting enabled later than newer accounts like my SO's.

Since nobody posted it yet, here's a screenshot from the Android app.
Image

TBL_IA
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Re: Fidelity lets clients now trade fractional shares of stocks and ETFs

Post by TBL_IA » Wed Feb 05, 2020 3:40 pm

Just checked and have the option to purchase fractional shares using iOS (iPad).

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TheTimeLord
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Re: Fidelity lets clients now trade fractional shares of stocks and ETFs

Post by TheTimeLord » Wed Feb 05, 2020 3:43 pm

mervinj7 wrote:
Wed Feb 05, 2020 1:11 pm
dacalo wrote:
Tue Feb 04, 2020 2:38 pm
Almost seems like vaporware at this point. I don't think I have come across anyone who seems to have this feature yet (Reddit, Twitter, Bogleheads, etc).
My SO has it enabled on their Fidelity Android app, so it's definitely not vaporware. :)
What's really odd is that I don't have it enabled if I login using my credentials even though it's a joint Brokerage account. From the reddit thread, it seems older accounts like mine (a couple of decades) are getting enabled later than newer accounts like my SO's.

Since nobody posted it yet, here's a screenshot from the Android app.
Image
And you didn't buy a fractional share of Tesla?
IMHO, Investing should be about living the life you want, not avoiding the life you fear. | Run, You Clever Boy! [9085]

mervinj7
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Re: Fidelity lets clients now trade fractional shares of stocks and ETFs

Post by mervinj7 » Wed Feb 05, 2020 4:17 pm

TheTimeLord wrote:
Wed Feb 05, 2020 3:43 pm
mervinj7 wrote:
Wed Feb 05, 2020 1:11 pm
Since nobody posted it yet, here's a screenshot from the Android app.
Image
And you didn't buy a fractional share of Tesla?
Ha, not a bad idea. My IPS does allows up to 5% of play money. Nothing stops me from investing 0.05% in TSLA...

schismal
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Re: Fidelity lets clients now trade fractional shares of stocks and ETFs

Post by schismal » Wed Feb 05, 2020 8:45 pm

It's now enabled on my Fidelity app (iOS). I suspect it's a switch they flip on their end, because my app hasn't been updated in a few days.

They only allow fractional trades during market hours, evidently, so I can't preview an order yet.

mervinj7
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Re: Fidelity lets clients now trade fractional shares of stocks and ETFs

Post by mervinj7 » Wed Feb 05, 2020 8:55 pm

schismal wrote:
Wed Feb 05, 2020 8:45 pm
It's now enabled on my Fidelity app (iOS). I suspect it's a switch they flip on their end, because my app hasn't been updated in a few days.

They only allow fractional trades during market hours, evidently, so I can't preview an order yet.
Yes, I confirmed that above. My SO has it enabled when signed in but not me on the same phone.

schismal
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Re: Fidelity lets clients now trade fractional shares of stocks and ETFs

Post by schismal » Wed Feb 05, 2020 9:21 pm

mervinj7 wrote:
Wed Feb 05, 2020 8:55 pm
schismal wrote:
Wed Feb 05, 2020 8:45 pm
It's now enabled on my Fidelity app (iOS). I suspect it's a switch they flip on their end, because my app hasn't been updated in a few days.

They only allow fractional trades during market hours, evidently, so I can't preview an order yet.
Yes, I confirmed that above. My SO has it enabled when signed in but not me on the same phone.
And like your SO, my account is relatively new (~2 years).

jeremyl
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Re: Fidelity lets clients now trade fractional shares of stocks and ETFs

Post by jeremyl » Thu Feb 06, 2020 6:25 am

I am not able to buy fractional shares either (iPad or android phone). I just opened my account in December. Hopefully it happens soon.

Juice3
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Re: Fidelity lets clients now trade fractional shares of stocks and ETFs

Post by Juice3 » Thu Feb 06, 2020 6:35 am

retiringwhen wrote:
Wed Jan 29, 2020 10:12 am
On top they are going to do it for ETFs putting pressure back on Schwab... Now it is in Vanguard's court to meet the new bar.
There has been speculation that Schwab's omission is intentional. Further, that Schwab's intent is disintermediate ETFs.

Vanguards response (or lack of) will be very interesting. Some have suggested VG is not well positioned for this volley.

mervinj7
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Re: Fidelity lets clients now trade fractional shares of stocks and ETFs

Post by mervinj7 » Thu Feb 06, 2020 8:41 am

schismal wrote:
Wed Feb 05, 2020 8:45 pm
It's now enabled on my Fidelity app (iOS). I suspect it's a switch they flip on their end, because my app hasn't been updated in a few days.

They only allow fractional trades during market hours, evidently, so I can't preview an order yet.
You can place fractional orders outside of market hours! I just did one last night for 0.5 shares of VTI. I'll report back once the order is fulfilled. My guess is that they do it at market open.

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jhfenton
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Re: Fidelity lets clients now trade fractional shares of stocks and ETFs

Post by jhfenton » Thu Feb 06, 2020 8:56 am

Juice3 wrote:
Thu Feb 06, 2020 6:35 am
retiringwhen wrote:
Wed Jan 29, 2020 10:12 am
On top they are going to do it for ETFs putting pressure back on Schwab... Now it is in Vanguard's court to meet the new bar.
There has been speculation that Schwab's omission is intentional. Further, that Schwab's intent is disintermediate ETFs.

Vanguards response (or lack of) will be very interesting. Some have suggested VG is not well positioned for this volley.
It will be interesting to see what Vanguard does. This is a bit more complicated than setting commissions to zero. Vanguard has long been more restrictive than Fidelity as to which ETFs are eligible for dividend reinvestment. (I currently only own one non-Vanguard ETF--EYLD/Cambria Emerging Shareholder Yield--and it is not eligible for dividend reinvestment at Vanguard, but is in my Fidelity HSA.)

schismal
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Re: Fidelity lets clients now trade fractional shares of stocks and ETFs

Post by schismal » Thu Feb 06, 2020 9:05 am

mervinj7 wrote:
Thu Feb 06, 2020 8:41 am
schismal wrote:
Wed Feb 05, 2020 8:45 pm
It's now enabled on my Fidelity app (iOS). I suspect it's a switch they flip on their end, because my app hasn't been updated in a few days.

They only allow fractional trades during market hours, evidently, so I can't preview an order yet.
You can place fractional orders outside of market hours! I just did one last night for 0.5 shares of VTI. I'll report back once the order is fulfilled. My guess is that they do it at market open.
Interesting! The app gave me a message stating otherwise when I tried last night. Maybe it's only allowed for certain ETFs (I'd tried VIOV), or capabilities are still being rolled out.

MotoTrojan
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Re: Fidelity lets clients now trade fractional shares of stocks and ETFs

Post by MotoTrojan » Thu Feb 06, 2020 9:07 am

mervinj7 wrote:
Wed Feb 05, 2020 4:17 pm
TheTimeLord wrote:
Wed Feb 05, 2020 3:43 pm
mervinj7 wrote:
Wed Feb 05, 2020 1:11 pm
Since nobody posted it yet, here's a screenshot from the Android app.
Image
And you didn't buy a fractional share of Tesla?
Ha, not a bad idea. My IPS does allows up to 5% of play money. Nothing stops me from investing 0.05% in TSLA...
You probably hold more than 0.05% already.

MotoTrojan
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Re: Fidelity lets clients now trade fractional shares of stocks and ETFs

Post by MotoTrojan » Thu Feb 06, 2020 9:10 am

I’m in! Guess it’s time to complicate the old portfolio and start turning dividend reinvestment on too.

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Doc
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Re: Fidelity lets clients now trade fractional shares of stocks and ETFs

Post by Doc » Thu Feb 06, 2020 9:12 am

MotoTrojan wrote:
Thu Feb 06, 2020 9:10 am
I’m in! Guess it’s time to complicate the old portfolio and start turning dividend reinvestment on too.
In a taxable account ????
A scientist looks for THE answer to a problem, an engineer looks for AN answer and lawyers ONLY have opinions. Investing is not a science.

exoilman
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Re: Fidelity lets clients now trade fractional shares of stocks and ETFs

Post by exoilman » Thu Feb 06, 2020 9:12 am

reference

MotoTrojan
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Re: Fidelity lets clients now trade fractional shares of stocks and ETFs

Post by MotoTrojan » Thu Feb 06, 2020 9:37 am

Doc wrote:
Thu Feb 06, 2020 9:12 am
MotoTrojan wrote:
Thu Feb 06, 2020 9:10 am
I’m in! Guess it’s time to complicate the old portfolio and start turning dividend reinvestment on too.
In a taxable account ????
I actually have that off in my modest taxable account and usually use the dividends to fund tax-advantaged accounts. I am not afraid of having more taxable lots though, really doesn't impact me in the days of covered shares.

Realistically I'll probably leave it as manual everywhere and just use the new fractional trading tool to feed my underweight holdings in IRAs & HSAs.

MotoTrojan
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Re: Fidelity lets clients now trade fractional shares of stocks and ETFs

Post by MotoTrojan » Thu Feb 06, 2020 9:39 am

Mine worked this morning. Note you must be in the Quick Ticket mode (when I move to More Trade Selections a note on top lets me know that Quick Ticket mode has fractional shares).

schismal
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Re: Fidelity lets clients now trade fractional shares of stocks and ETFs

Post by schismal » Thu Feb 06, 2020 9:59 am

Just entered 3 small fractional trades to exhaust the ~$20 in my settlement account. Smooth as butter.

Busdrvr
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Re: Fidelity lets clients now trade fractional shares of stocks and ETFs

Post by Busdrvr » Thu Feb 06, 2020 10:29 am

No joy yet this am. Opened a bkg acct on Fido last night (401 & Roth there already) and funded it to use fractional, but still unable on iOS and Android with updates done.
*******
Update: just checked on Android app and showing quick ticket and fractional ability now.

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Doc
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Re: Fidelity lets clients now trade fractional shares of stocks and ETFs

Post by Doc » Sat Feb 08, 2020 11:16 am

Doc wrote:
Mon Feb 03, 2020 11:08 am
Doc wrote:
Fri Jan 31, 2020 8:29 am
Regarding Schwab,
snailderby wrote:
Thu Jan 30, 2020 8:42 pm
They were already planning to allow fractional shares for stocks, right? If they can extend it to ETFs that would be nice.
A few weeks ago I was able to establish a reinvest dividends option for MINT, a short maturity active FI ETF. It should pay out a dividend today. Tomorrow I will be able to tell if they allow fractional shares for ETFs. I'm betting yes.
The pay date for the MINT dividend is 2/6/20 so I will not be able to confirm fractional shares for ETFs until Friday.
Update Saturday:

Reinvestment of fractional ETF shares confirmed. I can sell the fractional shares but cannot buy fractional shares today. I will try again when market is open and report if there is a change.
A scientist looks for THE answer to a problem, an engineer looks for AN answer and lawyers ONLY have opinions. Investing is not a science.

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1789
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Re: Fidelity lets clients now trade fractional shares of stocks and ETFs

Post by 1789 » Sat Feb 08, 2020 12:12 pm

MotoTrojan wrote:
Thu Feb 06, 2020 9:39 am
Mine worked this morning. Note you must be in the Quick Ticket mode (when I move to More Trade Selections a note on top lets me know that Quick Ticket mode has fractional shares).
I am still not able to see this both in ios app and my laptop ---> " quick ticket mode" I will wait and check again on Monday. I also don't see an update on the app.
"My conscience wants vegetarianism to win over the world. And my subconscious is yearning for a piece of juicy meat. But what do i want?" (Andrei Tarkovsky)

MotoTrojan
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Re: Fidelity lets clients now trade fractional shares of stocks and ETFs

Post by MotoTrojan » Sat Feb 08, 2020 12:50 pm

1789 wrote:
Sat Feb 08, 2020 12:12 pm
MotoTrojan wrote:
Thu Feb 06, 2020 9:39 am
Mine worked this morning. Note you must be in the Quick Ticket mode (when I move to More Trade Selections a note on top lets me know that Quick Ticket mode has fractional shares).
I am still not able to see this both in ios app and my laptop ---> " quick ticket mode" I will wait and check again on Monday. I also don't see an update on the app.
No update needed for me to get it. They turned it on.

Should be able to see it now if you have it; no need for open market.

Lyrrad
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Re: Fidelity lets clients now trade fractional shares of stocks and ETFs

Post by Lyrrad » Sat Feb 08, 2020 1:56 pm

1789 wrote:
Sat Feb 08, 2020 12:12 pm
MotoTrojan wrote:
Thu Feb 06, 2020 9:39 am
Mine worked this morning. Note you must be in the Quick Ticket mode (when I move to More Trade Selections a note on top lets me know that Quick Ticket mode has fractional shares).
I am still not able to see this both in ios app and my laptop ---> " quick ticket mode" I will wait and check again on Monday. I also don't see an update on the app.
It seems like they're rolling it out to a small percentage each day. The press release indicated it was rolling out and will continue over the "next several weeks", while the web site indicates that it will be phasing in over the "next few weeks".

It seems to be enabled on an account basis. The web page indicates "Placing your first buy or sell order in fractional shares or dollars enables your account for fractional and dollar-based trading." I don't think this is strictly true, since I was able to place a fractional buy order in the Android app only when the market was closed last week, but I cancelled it before the market opened. I'm no longer able to place fractional orders, so that may have been a bug.

Hopefully most of the remaining customers will get it next week.

pasadena
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Re: Fidelity lets clients now trade fractional shares of stocks and ETFs

Post by pasadena » Sat Feb 08, 2020 2:51 pm

I just checked and I can buy them on the iOS app. Account was open about a year ago. This is one of the reasons that finally decided me to transfer my "play money" brokerage from Schwab to Fidelity.

CardioMD
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Re: Fidelity lets clients now trade fractional shares of stocks and ETFs

Post by CardioMD » Sat Feb 08, 2020 3:15 pm

pasadena wrote:
Sat Feb 08, 2020 2:51 pm
I just checked and I can buy them on the iOS app. Account was open about a year ago. This is one of the reasons that finally decided me to transfer my "play money" brokerage from Schwab to Fidelity.
Bought a little VOO Thursday and Friday with some spare change I had in the account. Worked like a dream. Fidelity really should make a bigger deal out of this.
“The stock market is a giant distraction from the business of investing.” -Jack Bogle

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jhfenton
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Re: Fidelity lets clients now trade fractional shares of stocks and ETFs

Post by jhfenton » Sat Feb 08, 2020 4:42 pm

CardioMD wrote:
Sat Feb 08, 2020 3:15 pm
pasadena wrote:
Sat Feb 08, 2020 2:51 pm
I just checked and I can buy them on the iOS app. Account was open about a year ago. This is one of the reasons that finally decided me to transfer my "play money" brokerage from Schwab to Fidelity.
Bought a little VOO Thursday and Friday with some spare change I had in the account. Worked like a dream. Fidelity really should make a bigger deal out of this.
They may after their soft rollout is complete. They already have us chomping at the bit. Why promote it broadly if they're trying for a soft launch?

I still don't have it either on iOS (iPhone or iPad).

bck63
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Re: Fidelity lets clients now trade fractional shares of stocks and ETFs

Post by bck63 » Sat Feb 08, 2020 10:09 pm

1789 wrote:
Tue Feb 04, 2020 10:15 pm
Folks i am also not able to this yet. I tried on my phone thou.
The web page at Fidelity says if you can't do it now, check back occasionally over the next couple of weeks.

jumbopapa
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Re: Fidelity lets clients now trade fractional shares of stocks and ETFs

Post by jumbopapa » Mon Feb 10, 2020 9:35 am

I was able to place a purchase for fractional shares of VTI this morning. Thank you Fidelity!

leveraged
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Re: Fidelity lets clients now trade fractional shares of stocks and ETFs

Post by leveraged » Mon Feb 10, 2020 10:32 am

Used the idle cash in my HSA to purchase some fractional VT shares this morning. Here's some screenshots from the iOS app: https://imgur.com/a/OJSu9oQ

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MrBobcat
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Re: Fidelity lets clients now trade fractional shares of stocks and ETFs

Post by MrBobcat » Mon Feb 10, 2020 11:25 am

yay, it got turned on in my android app today. Cleaned up my uninvested cash except for 3 - 7 cents per account. Of course not having that last 23 cents invested will still probably bother me. :P

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jhfenton
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Re: Fidelity lets clients now trade fractional shares of stocks and ETFs

Post by jhfenton » Mon Feb 10, 2020 11:31 am

Fractional shares are now available for my Fidelity HSA in the iOS app.

I entered an order to buy $11.51 of EYLD/Cambria EM Shareholder Yield at the market. The spread was wider than usual at $30.70/$30.86, but I was curious how it would execute. The answer is very well. The reported price was $30.7481. I bought 0.374 shares for $11.50. (They left a penny behind because it would not have resulted in the purchase of another 0.001 shares.)

I sometimes end up with a penny left behind in accounts with mutual funds too, since most funds have prices greater than $20/share.

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Kintora
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Re: Fidelity lets clients now trade fractional shares of stocks and ETFs

Post by Kintora » Mon Feb 10, 2020 11:39 am

Relatively new HSA account here created in January. Fractional ETF share purchases are now possible for me on the iOS and Android apps, but not on the website. Purchased fractional of BND. It did give me the message that it had to be done during market open hours. Very nice feature!

Gleevec
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Re: Fidelity lets clients now trade fractional shares of stocks and ETFs

Post by Gleevec » Mon Feb 10, 2020 11:42 am

Apparently partial BRKA purchase not an option. Guess I’ll be stuck with BRKB

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jhfenton
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Re: Fidelity lets clients now trade fractional shares of stocks and ETFs

Post by jhfenton » Mon Feb 10, 2020 2:04 pm

Gleevec wrote:
Mon Feb 10, 2020 11:42 am
Apparently partial BRKA purchase not an option. Guess I’ll be stuck with BRKB
That makes sense. At $338,950.01, one one-thousandth of a share would still cost $338.95. :shock: You might as well buy 1.5 shares of BRK.B.

FizzyWomack
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Re: Fidelity lets clients now trade fractional shares of stocks and ETFs

Post by FizzyWomack » Mon Feb 10, 2020 2:31 pm

Mine was activated on Friday! I usually use the Fidelity App, but hopefully they also allow for this on the desktop site. I've bought a few hundred dollars of VTI so far and everything looks good on my end. Really impressed that they are getting this feature rolled out to more and more people and didn't even announce it like Schwab did back in October. Excited for my Fidelity 2% cash back Visa to pay out rewards later this month :sharebeer

Cash
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Re: Fidelity lets clients now trade fractional shares of stocks and ETFs

Post by Cash » Mon Feb 10, 2020 8:49 pm

It was also activated in my iOS app today. Customer for about a decade.

dacalo
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Re: Fidelity lets clients now trade fractional shares of stocks and ETFs

Post by dacalo » Mon Feb 10, 2020 10:34 pm

Still not activated - been a customer for around 18 years.

mroe800
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Re: Fidelity lets clients now trade fractional shares of stocks and ETFs

Post by mroe800 » Mon Feb 10, 2020 10:54 pm

Kintora wrote:
Mon Feb 10, 2020 11:39 am
Relatively new HSA account here created in January. Fractional ETF share purchases are now possible for me on the iOS and Android apps, but not on the website. Purchased fractional of BND. It did give me the message that it had to be done during market open hours. Very nice feature!
Have HSA, 401K, CMA, and brokerage all created between November and January; still waiting on fractional shares.

SnowBog
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Re: Fidelity lets clients now trade fractional shares of stocks and ETFs

Post by SnowBog » Mon Feb 10, 2020 11:20 pm

Looks like it's turned on for me too, but wasn't immediately obvious.

I went to the trade screen on Android, and was about to give up my seeing the option...

Noticed a banner at the top saying fractional shares now available in the quick ticket. Clicked they link, and there they were...

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Re: Fidelity lets clients now trade fractional shares of stocks and ETFs

Post by whodidntante » Mon Feb 10, 2020 11:38 pm

dacalo wrote:
Mon Feb 10, 2020 10:34 pm
Still not activated - been a customer for around 18 years.
It's available for me, but I've been with them longer. Maybe it's only for well-established customers. :wink:

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Re: Fidelity lets clients now trade fractional shares of stocks and ETFs

Post by mighty72 » Tue Feb 11, 2020 12:17 am

It got enabled for me too but says that fractional orders can be placed only during market hours. I will try tomorrow

mroe800
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Re: Fidelity lets clients now trade fractional shares of stocks and ETFs

Post by mroe800 » Tue Feb 11, 2020 8:49 am

mroe800 wrote:
Mon Feb 10, 2020 10:54 pm
Have HSA, 401K, CMA, and brokerage all created between November and January; still waiting on fractional shares.
Spoke too soon, it’s enabled as of this morning per-market. Will put in order when market opens.

MAI
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Re: Fidelity lets clients now trade fractional shares of stocks and ETFs

Post by MAI » Tue Feb 11, 2020 5:17 pm

The page https://www.fidelity.com/trading/fractional-shares now simply says "Available today through the Fidelity mobile app.". So the mobile rollout must be complete. Hopefully it won't be too much longer before it's available on the website.

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Re: Fidelity lets clients now trade fractional shares of stocks and ETFs

Post by ochotona » Tue Feb 11, 2020 8:48 pm

It works fine
Peter W., MBA, CRPC

mroe800
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Re: Fidelity lets clients now trade fractional shares of stocks and ETFs

Post by mroe800 » Tue Feb 11, 2020 10:04 pm

MAI wrote:
Tue Feb 11, 2020 5:17 pm
The page https://www.fidelity.com/trading/fractional-shares now simply says "Available today through the Fidelity mobile app.". So the mobile rollout must be complete. Hopefully it won't be too much longer before it's available on the website.
And hopefully automated investments using dollar amounts for stocks/ETFs follows shortly thereafter.

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