Dollar-based investing

Dollar-based investing makes it easy to buy fractional shares. Own a piece of your favorite companies and exchange-traded funds (ETFs) based on how much you want to invest.


Buy what you want, for what you want.

Easy access to fractional shares to help you develop your diversified investment portfolio.


Zero minimums and zero account fees to open a brokerage account. Zero commissions for online US stocks and ETF trades. Zero obstacles.

Available today through the Fidelity mobile app.

How does it work?

  1. Determine how much money you want to invest and what you want to invest in.
  2. Tap Transact, then Trade in the Fidelity mobile app.
  3. Select Dollars, and fill in the Quantity with the amount of your trade.

Here's a hypothetical example of how a $100 investment could work.


Ready to trade?

Read important terms and conditions related to dollar-based and fractional shares trading in your Fidelity® Account Customer Agreement.



Download the Fidelity mobile app.


What else should I know?

ELIGIBLE INVESTMENTS

Trade exchange-listed stocks and ETFs. All shares are traded using market and limit orders, good for day only.

ELIGIBLE ACCOUNTS

Fidelity retail accounts including brokerage, IRAs, and HSAs, as well as BrokerageLink® accounts offered through some workplace plans.

REAL-TIME TRADING

All trades are executed real-time during market hours, so you’ll always know your share price.

Looking for new trading strategies? Start here.

Launch into better trading strategies

5 strategic steps to help boost you from trader to savvy trader—educated, informed, and confident.

Visit the Fidelity Learning Center

Learn more about trading—whatever level you're at—with webinars, challenges, coaching sessions, and articles.

Frequently asked questions

  • How do I sign up for fractional share and dollar-based trading?

    Fractional share and dollar-based trading is available through Fidelity Mobile® (Basic Trade Ticket). Placing your first buy or sell order in fractional shares or dollars enables your account for fractional and dollar-based trading.

    Terms and conditions related to fractional and dollar-based trading have been updated in the Fidelity® Account Customer Agreement.

  • Will I see anything different when I place my first fractional or dollar-based trade on Fidelity Mobile®?

    When you go to place your first trade, you will be asked to review the revised Fidelity® Account Customer Agreement (the "Agreement"). Proceeding with the trade acknowledges your agreement to the terms and conditions in the Agreement.

  • What types of securities can I trade in fractions or dollars?

    When trading in fractions or dollars you can trade National Market System (NMS) exchange-listed stocks. This includes stocks listed on the NYSE or Nasdaq. You will receive an error message if a specific security is not eligible.

  • What types of orders can I place in fractions or dollars?

    When trading in fractions or dollars, you can place market or limit orders. These orders are good for the day of the trade only.

  • When can I place fractional share and dollar-based trades?

    Fractional share and dollar-based orders are eligible for real-time execution during market hours, (approximately 9:30 am to 4:00 pm ET), on normal trading days. Dollar-based orders may only be placed while the market is open. Fractional share orders can be placed anytime. For market hours on holidays, check the NYSE calendar.

  • What are the minimum number of shares and dollars that I can trade?
    • Fractional share quantities can be entered out to 3 decimal places (.001) as long as the value of the order is at least $0.01. Executions will be rounded down to the nearest .001 shares.
    • Dollar-based trades can be entered out to 2 decimal places (e.g., $250.00). Your order will be converted into shares out to 3 decimal places (.001) and are rounded down to the nearest decimal.
  • If I enter a dollar-based buy or sell order, is there anything that could impact the value of that trade?

    The value of a trade may be impacted when entering a dollar-based buy or sell order.

    • Since dollar-based orders are converted to shares and are rounded down to the nearest .001 shares, it is possible that the value of the number of shares you receive might be higher or lower than the dollar amount you requested.
    • All sell orders are subject to an additional assessment that ranges from $0.01 to $0.03 per $1,000 of principal, which could reduce the proceeds of the order.
    • Sell orders placed in certain account types or account conditions may be subject to taxes, which could reduce the proceeds of the order.
    • Review the Fidelity® Account Customer Agreement for further details.
  • If I participate in Fidelity’s Dividend Reinvestment Program, what changes will I see?

    Currently, if participating in Fidelity’s Dividend Reinvestment Program, when you place a sell order for a security in your account that has fractional shares, you enter the whole share quantity only, and your fractional shares are automatically liquidated on settlement date. Your fractional shares receive the same execution price as your whole shares.

    After you place your first order in fractions or dollars, any sell order will need to include the whole and fractional share amounts that you want to trade, as fractional shares will no longer automatically liquidate. You will continue to have your dividends reinvested.

  • Can I transfer fractional shares or receive a stock certificate for them?

    Fractional shares cannot be transferred, and stock certificates are not available for them. Fractional shares need to be sold prior to any transfer.

  • How are fractional and dollar-based orders processed by Fidelity?
    • When processing fractional and dollar-based orders, Fidelity Brokerage Services (FBS) will act as agent and National Financial Services (NFS) will act in a mixed capacity (as principal for the fractional share components and as agent for the whole share components) when executing an order.
    • All orders with a fractional share component will be marked “Not Held,” which gives Fidelity time and price discretion to execute the order without being held to the security's current quote.
    • It is possible that fractional shares for certain securities may not be liquid and NFS will not be able to guarantee a market for the security.
    • In the event of a trading halt of a security, fractional trading of that security will also be halted.
    • Review the Fidelity® Account Customer Agreement for further details.
  • What are the risks and limitations of fractional share and dollar-based trading?

    Engaging in fractional share or dollar-based trading poses some unique risks and limitations including:

    • Your ability to place trades is limited to Fidelity Mobile® (Basic Trade Ticket), with limited order types, and is subject to system availability.
    • The actual amount of an executed order to buy or sell a dollar value of a security may also be higher or lower than the amount requested.
    • After you’ve placed your first fractional shares or dollar-based trade, any fractional shares in your account acquired prior to that point in time will no longer be automatically liquidated when you sell.
    • You will not be able to participate in proxy voting or participate in most voluntary corporate actions for the fractional share portion of a position.
    • You may not transfer or receive certificates for fractional share positions outside of Fidelity. Fractional share positions will need to be liquidated prior to transferring out.
    • Review the Fidelity® Account Customer Agreement for further details.
  • How are fractional share-only positions impacted by corporate actions like dividends and stock splits?

    Fractional share-only positions are impacted by corporate actions in a variety of ways.

    • Dividends for fractional share-only positions will be passed on to you in proportion to your ownership interest. However, dividends are only supported out to $0.01, so different treatment may apply to any amount smaller than that, or non-divisible amounts (based on the .001 share limitation).
    • For customers participating in Fidelity’s Dividend Reinvestment Program, fractional dividends will reinvest in the same manner as full shares.
    • Customers holding fractional share-only positions will participate in mandatory corporate actions (e.g., splits, reverse splits, etc.). Different treatment may apply to any fractional share amounts that cannot be split.
    • You will not be able to participate in proxy voting or participate in most voluntary corporate actions for the fractional share portion of a position.
    • Please see the Fidelity® Account Customer Agreement for more information.