A fractional share lets you put a dollar amount, even $1, into a stock or ETF that costs far more per share. The brokers below differ in how small an order can be, which stocks and funds you can buy in pieces, and what happens to those pieces if you move your account.
Top picks
Fidelity
Robinhood
Interactive BrokersDetails verified on each broker’s own site at this update. Terms apply.
Compare fractional share brokerages
| Broker | Minimum per order | Which securities | Commissions | Account minimum | |
|---|---|---|---|---|---|
| Fidelity | $1 | Stocks and ETFs listed on the NYSE or Nasdaq | $0 online | $0 | See Fidelity |
| Robinhood | $1 | Most stocks and ETFs priced over $1 a share | $0 | None listed | Open account |
| Interactive Brokers | $1 | 10,500+ U.S. stocks and ETFs | $0 on IBKR Lite | $0 | See IBKR |
 Charles Schwab | $1 | Most U.S.-listed stocks and ETFs | $0 online | $0 | See Schwab |
 Webull | $1 | Select U.S. stocks and ETFs | $0 | $0 | Open account |
 SoFi Invest | $5 | 4,000+ stocks and ETFs | $0 | $0 | Open account |
 Stash | 1 cent | 3,800+ stocks and ETFs | $12 a month plan | $0 | Open account |
The 7 best brokerages for fractional shares
1. Fidelity
Best overallWhy we picked it Fidelity takes orders from $1 on stocks and ETFs listed on the NYSE or Nasdaq, and it accepts limit orders on fractions as well as market orders. There is no commission online, no account minimum and no fee to open the account.
- Market and limit orders on fractions
- Recurring investments in dollars
- No proxy vote on the fractional part
- Fractions must be sold before a transfer
Fidelity Brokerage Services LLC, Member NYSE, SIPC. $0 applies to online U.S. stock and most ETF trades; sell orders carry an assessment fee of $0.01 to $0.03 per $1,000. Fractional orders are good for the day and fill only during normal market hours.
2. Robinhood
Best for beginnersWhy we picked it Robinhood fills fractional orders in real time during market hours from $1 and can reinvest your dividends into more fractions. It also reports proxy votes on fractions, which Fidelity and Schwab do not.
- Reports votes on your fractions
- Stock reward of $5 to $200 through this link
- No stocks under $1 a share or OTC stocks
- Fractions are sold on a full transfer
Robinhood Financial LLC, member SIPC. Eligible stocks trade over $1 a share with a market value over $25 million. Stock reward: at least $5 in stock once you link your bank; Robinhood says 1 in 100 people get $20 and 1 in 1,000 get $200. It requires a new account, a linked funding source and a qualifying deposit. Terms apply.
3. Interactive Brokers
Best for selectionWhy we picked it Interactive Brokers lists more than 10,500 U.S. stocks and ETFs for fractional trading, the largest count any broker here publishes, and adds eligible Canadian and European stocks. Market and limit orders both work on fractions.
- 10,500+ U.S. stocks and ETFs
- Market and limit orders on fractions
- IBKR Pro charges a commission
- Can close positions that lose eligibility
Interactive Brokers LLC, member NYSE, FINRA, SIPC. IBKR Lite charges $0 on U.S. exchange-listed stocks and ETFs and is for U.S. residents. On IBKR Pro a fractional trade costs the greater of 1% of the trade value or $0.01. Fractions carry no voting rights and cannot be transferred to another broker.
4. Charles Schwab
Best for multi-stock ordersWhy we picked it Schwab’s fractions used to cover S&P 500 companies under the name Stock Slices. It now sells fractions of most U.S.-listed stocks and ETFs from $1 with no commission online, and one order can buy several of them at once.
- Most U.S.-listed stocks and ETFs
- Several stocks or ETFs in one order
- No shareholder vote on a fraction
- Fractions are sold if you transfer out
Charles Schwab & Co., Inc., Member SIPC. No commission applies to fractional trades placed online. Orders fill during regular market hours, and an order for less than one share is a market order that is good for the day. Schwab says minimums and maximums vary by order type and are shown when you trade.
5. Webull
Best for active tradersWhy we picked it Webull takes market and limit orders on fractions from $1 and passes along proxy votes on them. It suits someone who also wants charts, paper trading and commission-free options in the same app.
- 12 fractional shares with a $100 first deposit
- Recurring buys from $1
- Only select stocks and ETFs are eligible
- Regular market hours only
Webull Financial LLC, member SIPC and FINRA. The help center lists a $1 minimum buy, while the fractional share agreement says orders under $5 are not accepted, so check the order screen. New-account offer through this link: 12 fractional shares after an initial deposit of $100 or more. Joint, IRA and entity accounts are excluded. Terms apply.
6. SoFi Invest
Best if you bank with SoFiWhy we picked it SoFi Invest lives in the same app as SoFi’s checking, savings and loans, so it is the simple choice if your money is already there. Fractional orders start at $5 and go through right away during market hours.
- Dividend reinvestment available
- Recurring investments in fractions
- $5 minimum, higher than most here
- After-hours orders wait for the open
Brokerage products are offered through SoFi Securities LLC, Member FINRA/SIPC. Orders placed outside market hours are combined and executed at the next market open at an average price. Fractional shares cannot be transferred to another firm and are sold when you start a transfer. SoFi says voting rights may not be available on fractions.
7. Stash
Best for guided investingWhy we picked it Stash is a subscription with guidance built in. One $12 a month plan lets you pick your own stocks and ETFs in any dollar amount or have Stash manage a portfolio for you, with recurring investments to keep you adding to it.
- Buy from 1 cent
- $25 when you invest $5 through this link
- $12 a month subscription
- Four trading windows a day, not real time
The plan is $12 a month, or $108 billed annually. Managed Smart Portfolios of $1,000 or more and managed retirement accounts also pay 0.25% a year. Fractions are sold if you transfer out, and an outgoing transfer costs $100. Offer through this link: $25 when you open an account and invest $5 in a Personal or Smart Portfolio. Terms apply. Disclosure: Investment advisory services offered by Stash Investments LLC, an SEC registered investment adviser. Investing involves risk and investments may lose value. Holdings and performance are hypothetical. *Offer is subject to T&Cs
What is a fractional share?
A fractional share, also called a partial share, is a piece of one share of a stock or ETF. You choose a dollar amount, and the broker turns it into a decimal number of shares at the current price. Put $25 into a stock trading at $100 and you own 0.25 of a share.
Your piece moves with the full share. If the stock rises 10%, your $25 becomes $27.50, and any dividend is paid in proportion to what you own. That is what makes fractions useful for a small account: $100 can be spread across several companies, including the ones whose shares cost more than $100 each. Our guide to investing with little money covers what to do before you buy anything.
MoreHow to invest with just $5
How fractional share orders work
You place the order in dollars or in a decimal number of shares, and the broker works out the rest. Fidelity, for example, converts a dollar order into shares to three decimal places and rounds down, so what you end up with can be worth slightly more or less than the amount you typed.
Timing depends on the broker. Fidelity, Schwab and Webull fill fractional orders only during regular market hours, 9:30 a.m. to 4 p.m. Eastern. Robinhood fills them in real time while the market is open. SoFi Invest sends orders through right away during market hours and holds anything placed at night for the next market open. Stash does not trade in real time at all. It runs four trading windows each market day.
That difference can change your price. The SEC’s investor bulletin on fractional shares explains that some firms collect fractional orders through the day and fill them in bulk, and that the way a firm handles these orders may affect the price you pay or receive. Order types are narrower too. Fidelity accepts market and limit orders on fractions, but only for the day they are placed.
Other places to buy fractional shares
These seven did not make the ranked list. Some do not let you place a one-time order for part of any stock you choose, and others are built mainly for something else. Each still gets you fractions in some form.
| Broker | What it allows | What to know | |
|---|---|---|---|
| Public | Fractions of stocks from $5 an order, or from $1 inside a recurring Investment Plan. | No commission on U.S.-listed stocks and ETFs. Accounts under $70 with no activity for six months pay $3.99 a month. Fractions are sold if you transfer out. | See Public |
| Cash App | Stocks and ETFs in dollar amounts from $1. | Orders are placed only during market hours. Fractions are sold if you transfer or close the account, and a completed outbound stock transfer costs $75. | See Cash App |
| M1 Finance | Fractions of 6,000+ U.S.-listed stocks and ETFs from $1 a purchase, held in a portfolio M1 calls a Pie. | $100 to open a brokerage account. Orders run in a trade window, not in real time. $3 a month unless you hold more than $10,000 at M1 or have an active M1 personal loan. | See M1 |
| E*TRADE | Fractions of a select list of stocks and ETFs, starting with the S&P 100, with a $5 minimum per buy order. | You enter a share quantity to three decimals. Dollar-amount orders are not available yet. Dividend reinvestment also creates fractions. | See E*TRADE |
| Vanguard | Dollar amounts of Vanguard ETFs from $1, and of mutual funds. | Vanguard does not list individual stocks or other companies’ ETFs for dollar-based orders. Fractions cannot move to another firm. | See Vanguard |
| Merrill Edge | Merrill lists no way to buy part of a share. Fractions come from dividend reinvestment or corporate actions. | Merrill’s terms let it sell any holding of less than one share on a set day each month. Online stock and ETF trades are $0. | See Merrill |
| Acorns | Ready-made ETF portfolios, funded from $5. No stock picking on the Bronze or Silver plans. | Choosing individual stocks takes the Gold plan at $12 a month, and they can be only part of the account. Bronze is $4 a month and Silver is $8 for new sign-ups. | See Acorns |
TD Ameritrade is on neither list because it is no longer a separate broker. Schwab acquired it, its website now sends you to Schwab, and its former customers are Schwab clients.
If you want a full-service account more than you want fractions, compare our picks for the best online brokers. If you would rather have a portfolio built and managed for you, look at the best robo advisors.
How fractional shares are taxed
Fractions are taxed the same way as whole shares. The IRS splits dividends into ordinary dividends, which count as ordinary income, and qualified dividends, which are taxed at the lower capital gain rates. Each payer should send you Form 1099-DIV if it paid you at least $10.
Selling creates a capital gain or loss. If you held the fraction for more than one year the gain is long-term, and if you held it for one year or less it is short-term, which the IRS taxes as ordinary income. You report sales on Form 8949 and total them on Schedule D.
One trap is specific to fractions. Because most brokers sell your fractions when you move an account, a transfer can create a taxable sale you did not plan for. Check how much you hold in fractions before you start one.
How to buy fractional shares
1. Open and fund a brokerage account. Most of the seven ranked brokers list no minimum to open. Link a bank account and move over the amount you want to invest. Investing through a company takes a different account, which we cover in business brokerage accounts.
2. Pick a stock or ETF that is eligible. Not every security can be bought in pieces. Webull marks eligible ones with an icon, Robinhood leaves out stocks priced under $1 a share, and Fidelity shows an error message if a security does not qualify.
3. Enter a dollar amount. Choose to buy in dollars, type the amount and review the estimated number of shares before you confirm. A market order placed during market hours fills at the current price.
4. Set it to repeat if you want. Fidelity, Robinhood, Webull and SoFi Invest all offer recurring investments in dollar amounts. It is the easy way to add a little every week or month without thinking about the share price.
MoreHow to start investing: a beginner guide
Before you buy fractional shares
Four limits that do not apply to whole shares.
Fidelity, Schwab, Robinhood, SoFi and Webull all say fractional shares cannot be transferred. If you move your account, the whole shares go over and the fractions are sold for cash.
Fidelity and Schwab do not let you vote the fractional part of a holding. Robinhood and Webull add up fractional votes and report them. Webull notes that a company may not count them all.
If a SIPC member broker fails, SIPC protects up to $500,000 in securities and cash, including a $250,000 limit for cash. It does not protect you from a drop in the value of what you own.
Eligible lists change. Interactive Brokers says it may close fractional positions in stocks that are no longer eligible, and Fidelity warns that fractions of some securities may be hard to sell.
How we chose these
The minimum per order, which stocks and ETFs you can buy in pieces, commissions and account fees, how orders are filled, and what happens to fractions in a transfer.
Every figure was read on the broker’s own fractional share page, help center, fee schedule or customer agreement at this update.
Brokers that do not take a one-time order for part of a stock you choose, and apps built mainly for something else. They are in the second table.
Fractional shares FAQs
Fidelity is our top pick for most people. It takes orders from $1 on stocks and ETFs listed on the NYSE or Nasdaq, accepts limit orders on fractions and charges no commission online. Robinhood is the easiest place to start with $1, and Interactive Brokers publishes the longest list, with more than 10,500 U.S. stocks and ETFs.
Yes. Robinhood lets you buy fractions in dollars or in shares from $1, and orders placed during market hours fill in real time. Most stocks priced over $1 a share with a market value over $25 million are eligible. Stocks that trade over the counter are not.
Yes. Partial shares and fractional shares are the same thing. Fidelity, Schwab, Interactive Brokers, Robinhood and Webull all take fractional orders from $1. SoFi Invest starts at $5, and Stash lets you buy from 1 cent on its $12 a month plan.
Yes. Schwab sells fractional shares of most U.S.-listed stocks and ETFs from $1, with no commission online. The feature was called Schwab Stock Slices and covered S&P 500 companies. Schwab now simply calls it fractional shares.
Only for funds. Vanguard’s dollar-based investing lets you buy Vanguard ETFs from $1 and mutual funds by dollar amount. It does not list individual stocks or other companies’ ETFs for dollar-based orders.
Yes, on a limited list. E*TRADE now takes fractional buy orders on select stocks and ETFs, starting with the S&P 100, with a $5 minimum. You enter a share quantity to three decimals, and E*TRADE says dollar-amount orders are not available yet.
Usually not. Fidelity, Schwab, Robinhood, SoFi and Webull all say fractions cannot be transferred. When you move an account the whole shares transfer and the fractions are sold, with the cash sent on. A sale can be taxable, so check what you hold in fractions before you start.
Yes. A dividend is paid in proportion to the fraction you own, so half a share gets half the dividend. Fidelity, Robinhood, Webull and SoFi Invest can also reinvest dividends into more fractions for you.
A few. Fractions usually cannot be moved to another broker, you may not get a shareholder vote, not every stock is eligible, and most orders fill only during market hours. The investment risk is the same as with whole shares: the price can fall and you can lose money.
