9 Best Brokers for Buying Fractional Shares of July 2024
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.
Why trust NerdWallet
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.
Why trust NerdWallet
Best Brokers for Buying Fractional Shares
| Broker | NerdWallet rating | Fees | Account minimum | Promotion | Learn more |
|---|---|---|---|---|---|
 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 | |
 Charles Schwab Learn more on Charles Schwab's website | $0 per online equity trade | $0 | None no promotion available at this time | Learn more on Charles Schwab'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 | |
 Webull Learn more on Webull's website | $0 per trade | $0 | Get up to 75 free fractional shares (valued up to $3,000) when you open and fund an account with Webull. | Learn more on Webull's website | |
 SoFi Active Investing Learn more on SoFi Invest's website | $0 per trade | $0 | Up to $1,000 in free stock for users who sign up via mobile app | Learn more on SoFi Invest's website |
$0
per trade
$0
1 Free Stock
after linking your bank account (stock value range $5.00-$200)
Pros
Commission-free stock, options and ETF trades.
Streamlined interface.
Cryptocurrency trading.
IRA with 1% match.
High interest rate on uninvested cash.
Cons
No mutual funds.
Limited customer support.
Why We Like It
Robinhood provides free stock, options, ETF and cryptocurrency trades (but no bonds or mutual funds), and its account minimum is $0, too. Robinhood Gold offers a high interest rate on uninvested cash and low margin rates.
$0
per online equity trade
$0
None
no promotion available at this time
Pros
Commission-free stock, options and ETF trades.
Four trading platforms with no minimums or fees.
Above-average mobile app.
Extensive research offerings.
Large fund selection.
Cons
Low interest rate on uninvested cash.
Why We Like It
Charles Schwab has earned its strong reputation: The broker offers high-quality customer service, four free trading platforms, a wide selection of no-transaction-fee mutual funds and $0 commissions for stocks, ETFs and options.
Best Online Broker for Advanced Traders 2024
$0
per trade
$0
None
no promotion available at this time
Pros
Commission-free stock, options and ETF trades.
Large investment selection.
Strong research and tools.
Over 19,000 no-transaction-fee mutual funds.
High order execution quality.
Cons
High minimum to earn interest on uninvested cash.
Website can be difficult to navigate.
Why We Like It
Don't let the name fool you: IBKR Lite offers commission-free stock trading (including international trade capabilities), more than 19,000 mutual funds, and a well-featured platform.
$0
per trade
$0
Get up to 75 free fractional shares (valued up to $3,000)
when you open and fund an account with Webull.
Pros
Commission-free stock, options and ETF trades.
Easy-to-use platform.
Advanced tools.
Access to cryptocurrency.
High interest rate on uninvested cash.
High order execution quality.
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. The brokerage also delivers an impressive array of tools for active traders and a wide investment selection, including stocks (plus fractional shares), options, ETFs, crypto, commodities and futures. However, its relatively weak educational content may leave true beginners in the lurch, and it lacks access to bonds and mutual funds.
$0
per trade
$0
Up to $1,000
in free stock for users who sign up via mobile app
Pros
Commission-free stock, options and ETF trades.
Free financial counseling.
IPO access.
Cons
Low interest rate on uninvested cash.
Why We Like It
SoFi Active Investing's $0 trading commission, free access to financial advisors, fractional shares and $1 account minimum are attractive to new investors. More advanced investors will appreciate the company's wide mutual fund selection and IPO access.
$0
$0
Earn up to $10,000
when you transfer your investment portfolio to Public.
Pros
Commission-free stock, options and ETF trades.
Rebates for trading options.
Impressive selection of alternative assets.
Easy-to-use signup and trading interface.
High interest rate on uninvested cash.
Cons
No mutual funds.
No margin trading.
Lack of tools (e.g. customizable investment screeners).
No IRA accounts.
Why We Like It
Public provides free stock and ETF trades, pays you to trade options, and gives traders access to crypto, alternative assets and bonds, as well as a high-yield savings account. The platform will appeal to traders looking for a low-cost options broker and access to many types of assets.
$0
per trade for online U.S. stocks and ETFs
$0
None
no promotion available at this time
Pros
Commission-free stock, options and ETF trades.
Large selection of research providers.
Strong customer service.
Expense-ratio-free index funds.
Highly rated mobile app.
High interest rate on uninvested cash.
Cons
Relatively high broker-assisted trade fee.
Why We Like It
Fidelity is one of the largest and most well-established brokerages, and it shows. Fidelity charges no trading commissions, offers an extensive set of no-fee, no-minimum index funds. It also stands out for its top-notch research tools, a renowned trading platform and very strong customer service.
$0
per trade
$0
Up to $200
in Transfer Fee Rebates
Pros
Commission-free stock, options and ETF trades.
$0 contract fee on options trades.
All mutual funds are commission-free.
Chinese language options.
Cons
No 24/7 customer support.
Low interest rate on uninvested cash.
Why We Like It
In addition to free stock and options trading, Firstrade charges no commission for mutual funds, a deal no other broker matches. Options traders will appreciate that the broker charges no contract fee, also a rarity among brokers.
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 July 2, 2024
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...