Fractional Shares
TradersPost supports trading in fractional share quantities with brokers that support it. The following brokers support fractional trading:
Support Brokers
Alpaca - supports 6 decimal places. You can read more about Alpaca fractional trading here.
Robinhood - supports 9 decimal places. You can read more about Robinhood fractional trading here.
TradersPost Paper - supports 9 decimal places
You can trade fractional shares by entering a fractional quantity with a decimal or by entering a dollar amount to buy and the fractional quantity will be calculated for you.
Behavior
Here are some notes on fractional trading behavior to consider when trading fractional shares:
Fractional buy and sell orders must be simple good for day market orders
Fractional orders cannot have stop loss or take profits.
Fractional orders cannot be short.
Fractional quantities will be rounded down to the number of decimal places the broker supports.
Strategy Subscriptions
If you want to use fractional shares in your automated strategy subscriptions, you just need to check the Use fractional quantity checkbox in your strategy subscription.
Now when order quantities are calculated, we will not round them to whole numbers and will instead round the quantity to the number of decimal places supported by the broker.
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