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Old 02-10-2014, 08:41 PM
 
1,785 posts, read 3,500,947 times
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I just set up an account, with the $500 minimum investment. On my first purchase, am I able to buy $500 worth of stock shares, or do I have to buy in full share increments?

The reason I'm asking is because I'm used to my 401k/mutual funds that show I have 40.55 shares of X fund.
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Old 02-10-2014, 09:24 PM
 
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Full shares
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Old 02-10-2014, 09:32 PM
 
Location: US
22,346 posts, read 21,189,558 times
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Full shares...

If XYZ is $320, you can only afford 1 share.
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Old 02-11-2014, 10:24 AM
 
Location: Richmond, VA
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You buy full shares.

Dividend reinvestment can result in fractional shares later.
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Old 02-11-2014, 10:37 AM
 
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I don't think in Scottrade that you can have dividends reinvested. I think they have a program where they deposit your dividends into a Scottrade account and you then use those dividends to purchase other shares of stock without a commission. Check with Scottrade.
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Old 02-11-2014, 11:08 AM
 
Location: Warwick, RI
3,685 posts, read 4,549,294 times
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If you wish to fractional share stock purchases, check with Capitol One Sharebuilder. They allow you to make regular purchases in fractional shares. It's not a great site for trading, and they have minimal research tools, but it works great for a long term buy and hold type investor. Good luck!
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Old 02-11-2014, 06:24 PM
 
319 posts, read 598,739 times
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Scottrade has FRIP, which takes the dividends and buys basically any stock you wish. You can take MCD dividends and buy AAPL.
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