tastyworks currently supports the purchase and sale of fractional shares. Additionally, we support the accumulation, transfer, and sale of fractional shares. Fractional shares accumulate via dividends, Dividend Reivestment Plans (DRIP), corporate actions, and account transfers (ACATs). Fractional shares will update to the platform on the payable date of a dividend or on the settlement date of the corporate action or ACAT. As of now, you can only purchase and sell fractional shares on the Dekstop and Mobile platforms. Web-based fractional trading will be available in the future.
Fractional Trading Specifications
- Only Market Orders (only DAY TIF)
- The minimum purchase amount is $5.00 worth of shares
- Max purchase quantity is 0.99 shares (cannot route for a quantity greater than 1)
- Not available for pre-market or after-hour sessions
- Cannot short fractional shares**
Commissions and Fees
$0.00 commission to open ($0.10 fee)
$0.00 commission to close ($0.10 fee)
All fractional shares incur a $0.10 per transaction clearing fee
Fractional shares display on the positions tab
Whole and partial shares will appear on your platform's positions tab.
Example of fractionals displayed on the Positions tab.
Closing fractional shares
If you decide to close your entire position, you must submit two separate closing orders. One order to close the whole share amount, and the next order to close the fractional share amount. Any whole plus fractional share amount orders will result in an error or rejection.
For example, you have 50.66 shares of XYZ. To close out of all 50.66 shares, you will first need to place a closing order for 50.00 shares. After the order is filled you will then need to place a closing order of 0.66 to close the remaining position.
Also, you can close fractional shares through the tastyworks desktop, mobile app, or dough by tastyworks app, or you can email firstname.lastname@example.org to have the position manually closed.