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Good day,
New member here looking for advice on purchasing fractional shares - I got no money but have a strong desire to fool around :)
I have an account w/ Capital One and I think they have a drip/partial share program but am not sure and am wondering if it's any good or if some other broker might be a better option.
Any thoughts?
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That should be Fool with a capital F! It used to be that you would need to compare fees and such between brokers, but most discount brokers now offer fee-free trading. I have a money market savings account with Capital One (originally it was an ING Orange Direct account) and the bank hasn't harmed me, so that's a positive, but I haven't used their brokerage or other deposit services.

You can find a page comparing a number of Discount Brokers here:

https://www.fool.com/the-ascent/buying-stocks/

There's also a page on how to size up a broker here:

http://www.fool.com/investing/brokerage/10-ways-to-size-up-a...

Don't be taken in by fancy trading platforms, which are designed for active traders. As a long term buy-and-hold investor, focus on features such as ease of use, research resources, fees and availability of support.

Fuskie
Who would encourage you to test drive the investing platforms provided by the brokers to make sure they feel intuitive and meet your needs...

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DeadRedSea,

You wrote, New member here looking for advice on purchasing fractional shares - I got no money but have a strong desire to fool around :)
I have an account w/ Capital One and I think they have a drip/partial share program but am not sure and am wondering if it's any good or if some other broker might be a better option.
Any thoughts?


Read this article: https://thecollegeinvestor.com/20432/buy-fractional-shares-i...

Personally I'd recommend Fidelity. But for a really small time investor, I'd just start off with a an index fund and just set up recurring purchases, perhaps at every paycheck. Also max out your IRA and 401(k) options before going with a taxable account. You can usually do almost everything in an IRA that you could in a taxable account and gains are tax-advantaged in an IRA...

- Joel
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ooking for advice on purchasing fractional shares - I got no money but have a strong desire to fool around :)

If you got no money then you can't fool around. Sorry.

I second what Joel said. Buy an index mutual fund. VTI etf is VTSAX fund. You can buy fractional shares in a fund, but the minimum initial investment is usually $3000.

VTI is $144, so with $300 you could buy 2 shares. I think there are some "real" brokers that will allow you to buy fractional shares....you'd have to look around.
Some "non-real" brokers like robinhood will do that. But I'd stay away from them.
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Rayvt,

You wrote, VTI is $144, so with $300 you could buy 2 shares. I think there are some "real" brokers that will allow you to buy fractional shares....you'd have to look around.
Some "non-real" brokers like robinhood will do that. But I'd stay away from them.


Keep up! Fidelity lets you buy fractional shares of any stock these days. No commissions and you can execute market or limits orders and purchase based on either a total dollar amount or a specified number of shares. I think Fidelity is a real broker.

- Joel
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Keep up! Fidelity lets you buy fractional shares of any stock these days. No commissions and you can execute market or limits orders and purchase based on either a total dollar amount or a specified number of shares. I think Fidelity is a real broker.

It's hard to keep up, things have been changing with brokers so fast these days. Not too long ago I was thinking how to move some of my Etrade accounts to the Etrade login which was from when they took over OptionsHouse, and it got grandfathered $3.95 commissions. Then some "real" broker came out with $0 commissions and the avalanche came and they all went to $0. Including Etrade, the tail-end Charlie.

Yup, Fido is a real broker. The ones I was referring to were those like Robinhood (and another whose name I do not recall).

Of course, you are not _really_ buying fractional shares. The broker buys or has a whole number of shares in their name, and makes a bookkeeping entry that earmarks a fraction for you. Not that that makes any difference---nobody holds the actual shares certificates anymore, it's all just bookkeeping entries is a ledger.
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