7 Best Brokers for Buying Fractional Shares of September 2023
Fractional share investing allows you to purchase small slices of a stock, rather than a full share. These brokers let investors buy fractional shares with no commission.
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The ability to trade fractional shares of stocks is relatively new. A few years ago, if you wanted to invest in a stock, you needed to pony up enough money to buy a full share. And with some popular stocks trading in the triple digits or more, that left some would-be stock investors on the sidelines.
Fractional shares are the solution to that problem: They allow investors to purchase a small slice of a stock, rather than a full share. What that means is that at the brokers below, you could invest $10 into a stock that's currently trading for $100 a share. Then, you would own a small piece of a share, rather than the full thing.
The ability to invest in fractional shares makes stock trading more accessible, and it allows individual stock investors to build more diversified portfolios. All of the brokers below allow you to invest in fractional shares with no trade commission, which means your entire investment goes into the stock you choose.
The ability to trade fractional shares of stocks is relatively new. A few years ago, if you wanted to invest in a stock, you needed to pony up enough money to buy a full share. And with some popular stocks trading in the triple digits or more, that left some would-be stock investors on the sidelines.
Fractional shares are the solution to that problem: They allow investors to purchase a small slice of a stock, rather than a full share. What that means is that at the brokers below, you could invest $10 into a stock that's currently trading for $100 a share. Then, you would own a small piece of a share, rather than the full thing.
The ability to invest in fractional shares makes stock trading more accessible, and it allows individual stock investors to build more diversified portfolios. All of the brokers below allow you to invest in fractional shares with no trade commission, which means your entire investment goes into the stock you choose.
Best Brokers for Buying Fractional Shares
| Broker | NerdWallet rating | Fees | Account minimum | Promotion | Learn more |
|---|---|---|---|---|---|
 Fidelity Learn more on Fidelity's website | $0 per trade for online U.S. stocks and ETFs | $0 | Get $100 when you open a new, eligible Fidelity account with $50 or more. Use code FIDELITY100. Limited time offer. Terms apply. | Learn more on Fidelity's website | |
 Robinhood Learn more on Robinhood's website | $0 per trade | $0 | 1 Free Stock after linking your bank account (stock value range $5.00-$200) | Learn more on Robinhood's website | |
 Interactive Brokers IBKR Lite Learn more on Interactive Brokers' website | $0 per trade | $0 | None no promotion available at this time | Learn more on Interactive Brokers' website | |
 SoFi Active Investing Learn more on SoFi Invest's website | $0 per trade | $0 | $5 to $1,000 in free stock for users who sign up via mobile app | Learn more on SoFi Invest's website | |
 Webull Learn more on Webull's website | $0 per trade | $0 | Get up to 12 free fractional shares (valued up to $3,000) when you open and fund an account with Webull. | Learn more on Webull's website |
$0
per trade for online U.S. stocks and ETFs
$0
Get $100
when you open a new, eligible Fidelity account with $50 or more. Use code FIDELITY100. Limited time offer. Terms apply.
Pros
Commission-free stock, ETF and options trades.
Large selection of research providers.
Strong customer service.
Expense-ratio-free index funds.
Highly rated mobile app.
Cons
Relatively high broker-assisted trade fee.
Why We Like It
Fidelity offers $0 trading commissions, a selection of more than 3,300 no-transaction-fee mutual funds and top-notch research tools and trading platform. Its zero-fee index funds and strong customer service reputation are just icing on the cake.
$0
per trade
$0
1 Free Stock
after linking your bank account (stock value range $5.00-$200)
Pros
No account minimum.
Streamlined interface.
Cryptocurrency trading.
Cons
No mutual funds or bonds.
Limited customer support.
Why We Like It
Robinhood provides free stock, options, ETF and cryptocurrency trades, and its account minimum is $0, too. Mutual funds and bonds aren't offered, and only taxable investment accounts are available. Still, if you're looking to limit costs or trade crypto, Robinhood is a solid choice.
$0
per trade
$0
None
no promotion available at this time
Pros
Large investment selection.
Strong research and tools.
Over 18,000 no-transaction-fee mutual funds.
NerdWallet users who sign up for IBKR Pro get a 0.25 percentage point discount on margin rates.
Cons
Website is difficult to navigate.
Why We Like It
Interactive Brokers' IBKR Lite is a strong option for frequent traders: The broker offers international trade capabilities, no stock-trading commission and a quality trading platform.
$0
per trade
$0
$5 to $1,000
in free stock for users who sign up via mobile app
Pros
Commission-free stock and ETF trades.
Cryptocurrency trading.
Fractional shares available.
$1 account minimum.
Free financial counseling.
Cons
Small selection of tradable securities.
No mutual funds
Why We Like It
SoFi Active Investing's $0 trading commission and $1 account minimum are attractive to new investors, but a lack of investment choices such as mutual funds and bonds is a drawback for those saving for retirement.
$0
per trade
$0
Get up to 12 free fractional shares (valued up to $3,000)
when you open and fund an account with Webull.
Pros
Low costs.
Easy-to-use platform.
Advanced tools.
Access to cryptocurrency.
Cash management.
Cons
No mutual funds.
Thin educational support.
Why We Like It
Webull will appeal to the mobile-first generation of casual investors with its slick interface for desktop and mobile apps, but the brokerage also delivers an impressive array of tools for active traders. However, its relatively weak educational content may leave true beginners in the lurch, and it lacks access to a few common asset classes.
Want to compare more options? Here are our other top picks:
Fractional shares of ETFs
The above brokers offer fractional shares of individual stocks. But if you're looking for fractional shares of exchange-traded funds, you might also consider two more options.
Vanguard
Vanguard offers fractional share purchases of Vanguard ETFs only, which is why it didn't make our list. However, Vanguard's ETFs are popular choices among investors, and if you want to purchase fractional shares of them, the broker is worth a look.
» MORE: Read our Vanguard review
Stash
Stash offers fractional shares of individual stocks and ETFs. However, the company charges a monthly subscription fee, which is why it didn't make our list above. But the subscription has other benefits, including a banking account and a Stock-Back® Card that pays out stocks as rewards when you shop. It may be worth a look for investors seeking fractional share access alongside those other features.
» MORE: Read our Stash review
Last updated on September 5, 2023
Methodology
NerdWallet’s comprehensive review process evaluates and ranks the largest U.S. brokerage firms by assets under management, along with emerging industry players. Our aim is to provide an independent assessment of providers to help arm you with information to make sound, informed judgements on which ones will best meet your needs. We adhere to strict guidelines for editorial integrity.
We collect data directly from providers through detailed questionnaires, and conduct first-hand testing and observation through provider demonstrations. The questionnaire answers, combined with demonstrations, interviews of personnel at the providers and our specialists’ hands-on research, fuel our proprietary assessment process that scores each provider’s performance across more than 20 factors. The final output produces star ratings from poor (one star) to excellent (five stars).
For more details about the categories considered when rating brokers and our process, read our full methodology.
To recap our selections...
