They are giving you the option to hold at least a share prior to that date then they will sell down the difference.
Hi all
We appreciate your help with this. The changes in the ISA rules to allow fractional shares introduced a requirement that an ISA manager (Freetrade) holds the underlying whole share to be ISA-eligible. For ADRs where weâre unable to purchase the underlying share listed on a non-US exchange, this means we wouldnât be adhering to the updated ISA rules by offering fractions of ADRs. Itâs frustrating and something weâve made clear could have been worded differently, but itâs where we got to in discussions.
Just a few bits of clarification on this communication. Thanks for flagging the issue with buying a specific fraction of a share. Weâve raised a ticket internally to display to eight decimal places so that youâre able to be more precise in the amount you buy.
If you choose to sell down, you can select a fraction to eight decimal places to sell, reaching a whole share.
Best,
Alex
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you can buy to just above a full share and then sell the fraction down to 1 whole share
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Read Alexâs reply above. This is a bug which (I hope) they are now working on fixing.
The workaround of having to buy more than you need and then sell the remainder works, sure, but we shouldnât have to do this when weâve quite literally been told beforehand of the possible options that should not involve needing to do that. Better to flag the issue for the devs and have them fix it than force everyone to workaround it.
And besides, iirc this rounding issue (4dp rather than 8dp) has been present for a while now. Iâll be honest, it was pretty much a non-issue until these new rules, but now itâs potentially forcing people to make unnecessary multiple transactions I think itâs well worth raising the issue in the forums.
EDIT: Also, @acamp just to clarify my above post, when buying fractional shares you can already input all the way to 8dp, but when you go to the confirmation screen to actually buy said shares is when the amount gets rounded to 4dp, which of course messes up the precise amount needed in cases like this. Itâs not just an issue of it displaying to 4dp, it is actually rounding it to 4dp.
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Today is the last day when we can hold fractional ADRs in our ISAs and it does not look like there is a fix to the 4 decimals issue - in fact, I can enter only 2 in my app and itâs up-to-date.
Agree with previous posts, it looks that there is no way for us to either buy or sell fractional shares to make the total whole.
Just another epic fail FT? Why suggesting something that does not work? Thatâs very unprofessional and frustrating.
Fractions will be sold right? So whatâs the issue exactly? Buy enough to be above a whole share and thereâs nothing else you need to do
Hi @Akasma74
Thanks for flagging this. We shipped a change a week or two ago to address this problem. You can enter up to eight decimal places to buy up a rounding fraction. The order illustration that pops up at the bottom of the screen will only show four decimals, but the trade will execute to eight decimal places and youâll see this on the confirmation note. Iâll share your details in case youâre experiencing a bug with this.
Best,
Alex
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I donât understand how to enter what is not visible, can you explain?
the issue is a non-working solution was offered and customers have no control over their holdings.
Hi @Akasma74
It looks as though there might be an issue specific to Android that is causing this not to show. You can either ask for this order to be placed manually by us through the backend or you can place it on our web platform where you should be able to enter up to eight decimal places. Iâve flagged your concerns with the team so theyâll be on the lookout for your response.
Alex
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Thatâs really poor.
According to this chat, the 4 (actually, 2) decimals issue was raised at least 3 weeks ago and today youâre saying it hasnât been fixed but FT keeps on sending out emails with wrong instructions to thousands of the customers - just to tick the box âwarning issuedâ?
The options you offered me are not satisfactory as well:
I can see no difference between placing order manually by the team or selling that automatically on 18 Nov because I have no control over the price of my order - very bad.
The web platform option, as far as I know, is only available for Plus customers and Iâm not the one so it sounds like a bad joke.
Very disappointing indeed.
Sorry about this experience. Web is available for all customers not just Plus so this should be an option for you.
You can set up your login here Log in to Freetrade
Anyone know if the sales would be in my activities? Not sure if I had any in my ISA