Fractional shares are fractions of a whole share, meaning that you don’t need to buy a whole share to own a portion of a company. You can now buy as little as $1 worth of shares for over 2,000 US equities.
By default all Alpaca accounts are allowed to trade fractional shares in both live and paper environments. Please make sure you reset your paper account if you run into any issues dealing with fractional shares.
- We only support long fractional trading positions; short selling fractional shares is not supported.
- The expected price of fill is the NBBO quote at the time the order was submitted. We do not provide price improvement on fractional share orders. If you submit an order for a whole and fraction, the price for the whole share fill will be used to price the fractional portion of the order.
- Day trading fractional shares counts towards your day trade count
- You can cancel a fractional share order that is pending. Since fractional shares are only for
marketorder types you would only be cancelling orders you enter when the market is closed, and calendar before the market opens - same way as with whole shares.
- Fees for fractional trading work the same way as with whole shares.