Can I buy fractional shares on Etrade

E*TRADE Fractional Shares (2024)

Does E*TRADE allow buying partial shares of expensive stocks in 2024? E*TRADE fractional shares investing. How to sell fractional shares on E*TRADE.

Can You Buy Fractional Shares on E*Trade?

If you want to trade fractional shares at E*Trade, you really need to read this article. We have all the information you need plus some helpful suggestions.

Trading Fractional Shares at E*Trade

As with most other brokerage firms, E*Trade’s software can be used to place fractional-share trades of mutual funds. On the buy side, only whole-dollar trades are accepted, and this of course will result in a fractional-share position of the fund.

Unfortunately, E*Trade does not yet offer fractional-share trading on the buy side for equities and ETFs, although it is possible to sell fractional shares. Because E*Trade offers a free DRIP service for both stocks and ETFs, many customers will have fractional-share positions.

How to Sell Fractional Shares at E*Trade

To sell a fractional share at E*Trade, you must use a day order. If the order totals more than one full share (let’s say 1.084 shares, for example), either a market or limit order can be used. For an order less than a full share, a market order must be used. In either case, the full decimal quantity must be sold. You can’t sell part of a fractional share.

Webull as a Second Option

If gaining partial shares through dividend reinvesting and then selling them doesn’t appeal to you, you can head over to Webull and buy fractional shares as much as you wish. The broker permits fractional-share trading (including buying) of both stocks and exchange-traded funds.

Webull does have a $5 minimum purchase amount, although this requirement is waived on the sell side. On either side, a transaction must be worth at least 0.00001 shares.

fractional shares etrade

Webull also permits day trading and swing trading of partial shares, which means Webull is a good place to practice short-term trading with small amounts of capital. However, fractional shares cannot be shorted.

Although Webull’s trading platforms do offer practice trading, fractional-share trades cannot be submitted in demo mode.

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Up to 75 FREE fractional shares when you make a deposit at Webull.

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Buying Fractional Shares

A good place to submit fractional-share trades in live mode is on Webull’s desktop platform. Compatible with Windows, Mac, and Linux, this advanced software far exceeds expectations based on the broker’s $0 commission schedule.

etrade partial shares

There are three order tickets on the desktop platform: an options ticket, an advanced trade ticket, and a regular order form. Trades for fractional shares can be sent using either of the last two.

On either of these two tickets, there is a quantity field. Next to the quantity field is an icon. Click on this to shuffle through some different choices. Make sure you select the dollar sign. This will allow you to enter a dollar amount into the field.

Once you have the dollar sign selected and a dollar amount entered, you’re ready to submit the order. On the active trade form, you have to put a check mark in the box right next to the quantity field to verify your selection.

With either the regular or active trade ticket, you will have to use a market order. Webull does not permit the use of limit orders for partial shares. Also, market orders at Webull can only be set to the day session. This means fractional-share trades are not eligible for extended hours, and if an order is not filled, it will be canceled.

Besides ETFs and stocks, Webull offers fractional-share trading of closed-end funds and fractional-coin trading of digital currencies.

does etrade have fractional shares

Review of Webull

  Read detailed review of Webull

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Up to 75 FREE fractional shares when you make a deposit at Webull.

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Overview of E*Trade and Webull

While E*Trade has always advertised a lot, Webull TV commercials are just now beginning to appear. How does Webull compare to the older broker? This article is going to find out.

Who Has the Larger Assortment of Investment Products?

Traders at Webull have access to equities, options, crypto-currencies, and exchange-traded funds. ETF’s do not include closed-end funds. The broker-dealer has an unusual policy in that it prohibits the trading of any security selling for less than $1 or with a market cap under $10,000,000. Another unpleasant policy is that the broker doesn’t offer trading in over-the-counter securities. Penny stocks on America’s big exchanges can be traded.

E*Trade customers get ETF’s and stocks—and a lot more. The brokerage firm offer futures, bonds, mutual funds, and closed-end funds.

Whose Website is Better?

Webull has built a website for advertising purposes mostly. We did find a short FAQ with brief answers that may answer some newbie questions.

During our analysis, we found a much more thorough site at E*Trade. Bloomberg Business News is available in high definition free of charge. Although a trade bar is missing on the site, simple web pages provide stop, trailing, market, limit, and on-the-close orders. Duration choices include good-for-the-day, good-for-60-days, good-till-a-certain date, immediate or cancel, fill or kill, and extended hours.

Charting on E*Trade’s website is equally impressive. There are roughly 40 technical indicators, multiple graph styles, company events, and comparisons. We especially liked the ability to detach a chart and display it the full width of the monitor.

Webull in Europe

An alternative to the website is E*Trade’s very well-designed browser platform. Aptly named Power E*Trade, the software offers more advanced order types than we found on the website. OCO (order cancels other) is available along with Hidden and 3-Leg Bracket Stop.

Power E*Trade offers a watchlist, account and position information, plus a host of research tools we will examine in a later section.

And What About Smartphone Apps?

Instead of trading on the Webull website, the broker’s clients get to use the company’s mobile app. Charting on the platform is very good. We found multiple graph styles. The software is capable of displaying five decades of price history. We also like the incorporation of technical studies and horizontal viewing mode.

Webull vs Etrade

Webull’s order ticket offers just a few order types. There is a watchlist and a community forum. While ACH transfers are quick and easy, we were disappointed not to find a check deposit. One highlight is a simulated trading function.

Going over to E*Trade, we do get mobile check deposit. Other advantages of E*Trade’s mobile app include bill pay, live streaming of Bloomberg, and information on the broker’s robo management services. The order ticket offers more order types and duration choices than Webull’s. One disadvantage of E*Trade’s app is that it lacks a practice trading mode.

Etrade vs Webull

Does Either Firm Have Desktop Software?

Webull recently rolled out a new desktop platform. It functions on both Mac and PC. It is a desktop program, so it first needs to be downloaded. The software’s charting program is very good with technical studies and a few graph styles. There is a paper trading mode for extra practice. A watchlist, order history, and account information are available, but missing is live streaming of financial news.

Webull Trading Platform

E*Trade also has a desktop platform. It provides video financial news. The software has many more tools than Webull’s platform has. For example, there is a strategy scanner, a probability calculator, and advanced option order types. Charting is also very sophisticated.

There are two disadvantages of E*Trade’s platform. One is that it comes with account and trading minimums (Webull is free for all customers). The other is that it doesn’t have a practice simulator.

Who Is Better for Security Research?

Although Webull’s website doesn’t have much in terms of educational materials, its mobile app and desktop platform are different stories. During our exploration, we discovered lots of security information. For example, the desktop system presents information from financial statements in numerical and graphical formats. A stock has analyst ratings (although no pdf reports as of yet).

Although Webull doesn’t provide trading in options or cryptocurrencies, it does provide information on them. For example, option chains and bitcoin news articles are available on the mobile app.

The E*Trade website has an extensive section devoted to investment education. We found resources on diversification, retirement planning, taxes, bond ladders, and more. The broker’s screeners are much better than Webull’s, with a larger selection of search criteria.

Which Broker Is Better for International Trading?

Both E*Trade and Webull provide information on international indexes. But only Webull provides data on individual stocks trading on foreign exchanges (currently just London and Frankfurt). Neither broker provides actual trading in foreign securities.

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About the Author
Arthur Chachuna is a professional personal finance blogger, and the owner of He has been an avid investor for 25 years, and has a background in both applied math and programming.