Schwab permits fractional share trading (FST) only on the stocks in the SP500 index. TD --now owned by Schwab-- doesn’t support FST at all. Fido does support it, but only on mobile devices (which I don’t use). IB supports FST. So I decided to demo their platform by making some (roughly) $5 bets. The net-gain for the ten trades might not seem impressive. But 50 bps for 1-day holding-periods is good enough for the girls I go dancing with. (Nine of the positions were put on yesterday. ICL was put on pre-market today.)
My takeaway? IB’s charting sucks compared with TOS, and their order entry is clunky. But the platform is workable.
| Security | Trade | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| B | S | Net | P/L | Selection | Execution | Notes | ||||||
| ICL | $4.90 | $5.01 | $0.11 | 2.24% | B | D | left too much money on the table | |||||
| AAP | $6.58 | $6.63 | $0.05 | 0.76% | B | D | left too much money on the table | |||||
| EPAM | $6.15 | $6.16 | $0.01 | 0.16% | B | D | left too much money on the table | |||||
| OTTR | $7.27 | $7.30 | $0.03 | 0.41% | B | D | left too much money on the table | |||||
| GURE | $2.67 | $2.71 | $0.04 | 1.50% | D | A | thin, still not open for trading, but got out | |||||
| NC | $6.01 | $6.10 | $0.09 | 1.50% | D | A | thin, still not open for trading, but got out | |||||
| MIXT | $6.91 | $6.95 | $0.04 | 0.58% | D | A | thin, still not open for trading, but got out | |||||
| NWG | $6.44 | $6.44 | $0.00 | 0.00% | C | A | trade wasn’t working, so went flat | |||||
| BUD | $5.44 | $5.44 | $0.00 | 0.00% | C | A | trade wasn’t working, so went flat | |||||
| CNYA | $5.98 | $5.90 | -$0.08 | -1.34% | C | A | trade wasn’t working, so went flat | |||||
| $58.35 | $58.64 | $0.29 | 0.50% |