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  #1  
Old 01-14-2018,
aaronjk11 aaronjk11 is offline
 
Join Date: Apr 2017
Posts: 0
Default Why wont my broker let me trade decimals of stock?

I had costco reinvisting its dividends, and so I had about .08 shares of extra costco stock. I sold it today at $56, but firsttrade wouldnt let me sell the decimals of stock. Now I just have .08 shares of costco sitting in my account =/

For future reference, is there anyway to get rid of decimals of stock?
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  #2  
Old 01-15-2018,
2IVYUySIyS 2IVYUySIyS is offline
 
Join Date: May 2017
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Check your statement tomorrow, most brokers will clear the partial shares after close and credit your account. You'll see it tomorrow if you have online access to your account.
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  #3  
Old 01-16-2018,
3YSavXm4lk 3YSavXm4lk is offline
 
Join Date: Apr 2017
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Fractional shares cannot be certificated. As a result those fractional shares must be sold in the open market and you will receive the sales proceeds after any applicable fees have been collected.
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  #4  
Old 01-17-2018,
1SNl47gxHs 1SNl47gxHs is offline
 
Join Date: May 2017
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Did you just contradict yourself?
So what your saying is my broker will automatically sell these shares?
Or are you saying that I have to sell them? The problem is if I have to sell them, it wont let me sell fractional pieces of a stock (it said no deicmals), and even if I did so I would lose money on commission fees.
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  #5  
Old 01-17-2018,
1f3D1TXdbm 1f3D1TXdbm is offline
 
Join Date: Apr 2017
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I am not familiar with First Trade, but if they have an email, 800# or branch office close to use, it may be worth a phone call or email to clear it up.

Wish I could offer you more help, but I never ran into this situation.
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  #6  
Old 01-18-2018,
admin admin is offline
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Join Date: Dec 2010
Posts: 986
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This is taken directly from the FirstTrade website :
Closing Your Position of Fractional Shares
Closing your position with fractional shares can be done easily online. Simply sell all your whole shares and the fractional shares will be automatically sold by the settlement date.
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