Unable to place limit order for fractional shares on IBKR?
Whenever I try to buy fractional shares (like 2.5 Apple shares) on IBKR using limit order fractional component gets rejected and later I have to place a market order for fractional component so end up paying double commission. Anyone has this experience? This isn't mentioned on IBKR website.
Does it mean that whenever I'm buying fractional shares I have to place market order to make sure I pay single commission and whole and fractional shares are purchased in one batch? Though there is some volatility risk with market orders I'm not sure there's another way to do this with limit orders.
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Billy
25 Feb 2023
Development & Acquisitions Manager at Real Estate Private Equity
Have you enabled fractional quantity trading yet?
Under Account Settings find the section Trading and click on Trading Permissions. Scroll to "Stocks", click +Add and check the box next to "Global (Trade in Fractions)" and click on SAVE.
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I believe you asked this question previously. Fractional shares are better compared to group buy. Hence, if no one want to share with you at your price, it doesnt get executed.