I’ve used Freetrade for a fair amount of time now and was very welcome to see the direct debit and recurring orders.
But now the price of the NASDAQ(EQQQ) is getting very close to my monthly weighting on my recurring order.
This means I’ll have to start skipping months as you can’t buy a fraction of the share.
Is there any news that this will be coming soon? I really don’t want to move from Freetrade but if fractional ETF’s arent soon I may be forced too.
MrRJD
6 March 2024 13:39
2
I do wish this was implimented (Invest Engine do it right).
I wouldn’t hold your breath until the UK Government and HMRC get their act together with allowing fractions to be held in an ISA.
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I thought I’d read somewhere that HMRC had already confirmed this but maybe I’m mistaken.
It’s just a nuisance that I have to skip a month of investing as I have to buy a whole share
Use EQSG you wont have the fractional share issue and it has a cheaper TER?
I’d love to be surprised but I wouldn’t bank on this being delivered any time soon.
As I understand it, FT piggybacks on DriveWealth for US fractional shares, so it would have to build it itself for UK stocks.
A much-fabled investing platform was supposed to open the door to this years ago but FT tends to move at a snail’s pace.
As @Mattywallace says, you may want to look at alternative trackers with a lower per-unit cost.
It’s worth nothing that EQSG is cheaper for a reason: it uses swaps rather than full physical replication.
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Yeah I’ve been looking at other options but can’t find a good viable alternative.
I want to bump this to see if there has been any update that I can’t seem to find online.
If there isn’t a date for this or atleast plans to confirm it for a close quarter then I really am going to have to move to a different company
The ETF’s I use are getting to expensive to monthly invest now.