Feature request: ability to select to buy or sell by number of shares or cash amount

Not quite true, we’ve always had the ability to purchase £x amount of shares and we were given whole shares, with a bit of cash left over.

Now, we still purchase £x amount of shares but the bit of extra cash buys the fractional shares.

We were never able to buy X number of shares, whole or not.

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We essentially do have the ability to buy whole shares, though. I know technically you are right, but it was so easy to put in an amount to get the number of shares

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You’re trying to split hairs for the sake of it. The point still remains that under the existing UK system I can purchase whole shares with a degree of certainty that is impossible with fractionals.

Whether that matters is a different question but I’m not sure what you think you are proving…

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No weird. This forum is moderated by Freetrade, I’m guessing Reddit is not.

Hi everyone

As ever, thanks for the feedback - it’s good to see everyone getting stuck into fractional investing, I know I have been :cake:

We designed the system to make investing in US shares simple: You decide how much you’d like to invest and we’ll work out the optimal combination of whole shares and any fractions on top to fulfil that amount.

So, for example, if you want to invest £100, you’ll get £100 worth of shares (or as close as FX movements allow us) made up of as many whole shares as possible, with fractionals on top as required.

From that point on your £100 shareholding will continue to track the share price movements as normal, and you’ll receive any dividends paid by the company for the amount of shares you hold - including the fractions. So aside from how it’s displayed in app with a few decimals, it really isn’t that different.

However we do appreciate your feedback on fractionals, and will continue to include it when we develop this and all other features over time.

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@Duncan

Why cant the user decide if they want to acquire Fractionals or Whole shares?

It should be a simple change to allow the customer to select their preference and then apply this to all trades on all exchanges if the option exists.

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Forgive my ignorance on this. Does this make any changes to how and in whose name any shares are held?

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I mean if you buy two halves you have two halves rather than a whole.

And my point was more about the ability to transfer - I thought I read in the terms it was harder (not possible) to transfer fractionals - I might be wrong, just looking for the right answer

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I don’t believe this will be the case, i.e. if you buy two halves you’ll have a whole share. Fractions will add up till a whole share is complete. Then a new cicle begins

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I sincerely vouch for the existence of choice between buy/sell whole/fractional shares; or, in other words, between the options buy/sell amount of shares/amount of currency.

Nevertheless, in the unfortunate event the option doesn’t exist, I don’t see the point in looking for different pastures. I mean, I will eventually open accounts with other brokers in order to benefit from the 85K protection, but since I can afford £100 p/m only fractionals are great news.

Maybe a new blog post, with in depth explanation and clarification about fractionals, is in order

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No.

What you are reading above is about some forum members needing to get around the idea that they continue owning “whole” shares - and they may get a fraction of a share on top of their whole shares.

Previously, we observed users putting leftover change in very cheap shares, to put it to work or take a punt: I have 17p cash left

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Thanks for the clarity. That is appreciated.

That should be a choice though - if it isn’t it needs fixing.

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Why?

This is a comment to reflect on as well:

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Because I, as your customer, want to buy what I want to buy. If you will force me to buy something I don’t want to buy because youve changed the way you work, I change who I do business with.

I’ve enjoyed using FT, and really like the experience. But if you’re becoming less useful to how I want to invest, then I look elsewhere.

Forced fractionals is messy. It’s not for me.

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This is incorrect. Two halves make one whole share. You will see it as 1 share in your account.

I’d be interested to know if you read our heard something that gave you this impression? :thinking: Have you seen the feature at all?

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Whats missing for me is clear comms on the change as opposed to what feels like people finding out by seeing the change and raising the questions and concerns.

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We know “at the moment”, it is literally how it works:

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Hi @Viktor I’ve been beta testing fractional, I’m 35 a relative newbie so not old guard by any stretch. Changing to only fractional a is not what I signed up for or invested in.
When I buy holiday currency I Have the ability to either spend a round about of GBP and get an odd amount of USD or vide versa. If they insisted had to do business in only one of these ways I’d likely go to another place.
I get your in start up, growth at all costs, move fast a break things mode bit please listen to genuine concerns.
I want FT to succeed but other competitors will eat this up.

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Thank you Viktor, your replies across the forum this evening have helped me see why you have gone for fractional shares

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Hi Duncan further to the question I raised via the chat system.

Can we get clarification on whats happens when a user buys 0.6+0.6 = 1.2 share.

The 1 whole share (is that the same as previously being able to purchase a full purchase? I get the 0.2 will just be a fraction (left overs) but is the whole completed share the same what was available previously?

You say if you want to invest £100… you get £100 worth of share. But the problem with this is when an order is executed you might end up with 1.01 or 0.99 depending on how the order is completed. Feedback from user is that they want the option to pick purchase by fraction or purchase by monetary value.

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