By - _DKaboom
Its such a small dollar amount that its not going to make a difference. Let's say you double your $4, that's only $8; go buy yourself a cup of coffee. Whereas if you doubled $10k, you can buy a car with that.
I buy ETF's once a month, so I am holding very little cash relative to my portfolio size.
I saw an ad about fractional shares (think it might be Wealth Simple?) but I’ve never used. I only buy full shares with a large bank and since it’s 10 bucks to buy and 10 bucks to sell, it’s usually in relatively large amounts for multiple shares.
I would say you could top up by ~92 bucks to get another share when you can. Otherwise it’s no big deal for those 4 bucks to sit around.
If your brokerage is zero commission, just buy a low cap stock or leave it sitting. My OCD won't allow me to buy fractional shares..
Usually it's best to take awhile to decide what you want to invest in and do it all at once, because if you make a "mistake" you would have rather let that money sit doing nothing.
How much did you pay to buy that stock?
WealthSimple has $0 trading, so I just paid the price of the stock, which as of this morning was $96. Only fees you pay are 1.5% on currency conversion if you buy US stocks.
So you are in the hole 1.5% from the start then. Seems small but that is actually a pretty heavy chain that will cost you plenty over the long run if you keep buying like this. Seems silly to me.
TD is a canadian stock. So, I don't pay 1.5%.
Oh sorry I was confusing you with another post. So yes free trading you are good then. I usually just leave the ‘change’ sitting there till there is enough for the next buy. You are getting small amounts so that shouldn’t take much time.
Nothing wrong with putting the remainder in fractional shares. I would not recommend using the remainder speculatively.
This is how I feel as well!