An investor would be able to purchase small portions of stocks that cost hundreds or thousands of dollars, something that was first introduced by Wealthsimple in 2021
online investing platform will launch fractional trading on Wednesday, becoming one of a handful of trading platforms in Canada that allow users to purchase partial shares of stocks that would otherwise be restrictively expensive.
Mr. Ierullo and other investment advisers say fractional trading is a great way to level the playing field for new investors and day traders who want to pick their own stocks. He added fractional shares also benefit people who want to purchase expensive exchange-traded funds, allowing them to purchase a couple hundred dollars in equity every month, rather than having to save for an ETF that might cost $500.back in 2021. Interactive Brokers also began offering it in 2023.
TD Direct Investing will charge $1.99 for each trade made for less than one share of a stock. Fractional trades of more than one stock will be charged at the company’s regular rate of $9.99 per trade. That compares with all stock and ETF trades being free of charge on Wealthsimple. “From people I’ve spoken to at events, I think fractional shares are more of a ‘take it or leave it’ feature, where people appreciate it, but I don’t know if it’s enough to be a game changer,” Mr. Coffin said.
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