Interactive Brokers expands fractional shares trading to Canadian stocks and ETFs
August 01, 2023 - Interactive Brokers has broadened its trading services to include fractional shares for Canadian stocks and Exchange-Traded Funds (ETFs). Clients of Interactive Brokers can now trade fractional shares of all stocks and ETFs listed on the Toronto Stock Exchange and on CBOE Canada, in addition to selected US and European stocks and ETFs.
Fractional shares allow investors to purchase or sell portions of a company's stock instead of whole shares, making it possible to invest irrespective of the stock's full share price. This feature is beneficial for those seeking to diversify their portfolio or swiftly invest small cash balances to optimise potential returns.
Interactive Brokers' Executive Vice President of Marketing and Product Development, Steve Sanders, elaborated on the impact of this new feature, stating, “Fractional shares trading continues to be an easy and economical way for investors of any level to construct or add to their portfolios. Fractional shares trading has been extremely popular for US and European stocks and ETFs, and we are excited to broaden our offering to include Canadian shares.”
Clients can use a cash quantity order that enables them to place orders in a specific cash amount. If the cash amount does not correspond to a whole number of shares, the system will automatically purchase or sell fractional shares.
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