Is there anyway we can have the option to buy a defined number of shares rather than by a money amount?
If you have plus you can use limit orders to do this.
Actually, you cannot. You can limit the the price per share you wish to spend and the total amount you wish to spend. You’re then given an approximate amount of shares that will result in you buying. However, if the the limit order executes at a lower price, you may end up with extra shares. This happened to me recently with EVE; I supplied numbers that would result in approximately 2,000 shares, but ended up with 2,064 instead. I ended up selling off the extra.
Yeah, was surprised to see this wasn’t there, seems like a basic thing.
Please can we get the option to buy X amount of shares as well as the current $X amount of stock. I much prefer just buying whole shares and its really difficult to get this right with the changing Fx fee and stock price
Just an FYI this is already somewhat possible with Plus. It’s not quite how you’ve put it - you still specify an monetary amount, rather than share quantity, but it still only buys whole shares.
That only works with shares that are not fractional (things like ETFs) and it’s the same on non-Plus accounts, too.
It works with any shares (US, UK, ETF, whatever), on plus you select “limit order (whole shares only)” to get whole shares, not fractional, but as woody says, you still have to specify a monetary value and not a number of shares as per the original request
Please search before posting. Chances are the idea you’ve thought of has already been suggested. Duplicate topics unfortunately waste admin time.
It’s kind of irritating to by US shares via limit orders though… It takes a bit of time to work out the correct price, and you have to add a bit for the FX fee as well, and because it’s a limit order it needs a safety margin as well. I’d rather just specify how many shares I want and then it can tell me the approximate cost before I confirm.
Agreed - I’d be more than happy if it gave a rough estimate with no guarantees but actually bought X whole shares when thats what you want. Its not like its going to stop Freetrade getting their FX fee cut
Charlie you have saved my OCD from being in overdrive. I’ve hated having all these fractions on my US shares. Now I’ve sold all the fractions, and managed to buy whole shares on all the latest ones using limit orders.
Thanks for the tip