My OCD (Yes, itās bad. itās a sickness. But, I know iām gonna spend time trying to round up numbers. I just know it.)
My videos will probably be about 5 minutes longer with me saying I have bought 0.72946782 shares in Shopify.
Though I can understand it is a trivial issue to some. Just a simple toggle for whole shares and then slap the post-execution difference back into my account, so I can buy a few UK shares or other cheaper holdings.
I donāt agree with compromising existing features by introducing new ones. Inadvertently this has been done. Again, trivial, I accept that. But it is what it is.
i really like using the freetrade app and the current set up is running very well ā¦ I am really hopeful that freetrade will listen to their community and offer both fractional or whole number of shares amount when this is rolled out past beta . I for one would not like the idea of owning 1.1 or 0.999 of a share . please please please freetrade offer both and that way keep everybody happy win win for you no upset investors
Yet ETFs are so popularā¦ Yet 1 ETF share is a pool of lots of tiny 0.00000001 fractional shares of lots of companies.
I wonder how the holders of 10 ETF units feel when they find out that gasp itās not whole shares of underlying companies.
Also non-exchange traded funds often claim that āstock prices are so high, whole of your money is not investedā and they think charging 0.45% is fair to effectively do fractional investing.
Majority of everyoneās autoenrolled pension are in fractional units.
I actually donāt mind fractions as I agree that life can be fractal and fractional. Iām just not criticising those who choose to buy only whole shares. Its up to them.
Financially there is no difference between whole shares and fractional shares. Psychologically there is a massive difference.
If You are used to only working with whole numbers, then having to work with fractions of shares will put you outside your comfort zone and make you feel uncomfortable.
What you do in this situation ultimately decides your happiness, health, Wealth and life expectancy.
If you choose to avoid the fractional shares, you will have reinforced the restrictions on your comfort zones. Over time if you do this with enough choices in life, your comfort zones start to shrink and you become uncomfortable in more and more situations. Slowly your world starts to shrink
If you embrace what makes you uncomfortable, such as fractional shares, over time it becomes normal and comfortable. You will have expanded your comfort zones, leaving you happier and relaxed in more of lifeās situations. Do this with enough choices in life and your world expands.
Exactly. Itās all an artificial construct - the share itself is a fraction of a company.
I added a grand or so to test fractionals and bought Ā£100 of some of my favorite stocks, it all worked out, but ended up with a cash balance of -0.01 which Iām sure would drive some people bananas too!
To me this is just a communication issue. FT have a lot more information about how people are actually using the app, and theyāre the ones with the product vision. Change is inevitable and good.
I donāt believe customers always know whatās best for them. Sometimes A/B testing, user testing is helpful, but sometimes familiarity bias causes people to resist change.
However, FT could have communicated their reasoning for this change instead of just dropping it. It could have also been kept to the beta so they could get some controlled feedback, or some A/B testing.
The feedback here is that people just want the choice. FT could communicate why they decided not to leave choice. Perhaps the investment platform no longer supports this option, or perhaps theyāre leaving some of this control to Alpha accounts and just want basic accounts to be simple and functional.
In any case, with a crowdfunding round next week, now is not the time to lack transparency and communication, or to quietly dismiss feedback.
I agree that fractionals is a better way to purchase your shares, as you can allocate the proportion of money you want into different stocks, and this way manage your portfolio, BUT not offering also the option to buy whole shares for those who want, itās a poor user experience for many (as shown on these threads) so why not adding this option? is there a technical restriction preventing this?
While Iām not particularly bothered myself, I think enough people have made it clear they want the option. I think Freetrade should seriously consider making it optional.
FT has been nothing but transparent. Think about all the Zoom calls in the last few months. I canāt think of a company that does it well like FT. I definitely donāt think our brethren in the U.S. are getting this level of transparency and access from Robinhood.
