Fractional buys allow you to purchase most shares - so long as you spend more than £1 you can buy into very expensive stocks - as the 212 advert states.
This is still true for AMD and other USA stocks too. But, the other day I went to buy just over £1 of Tesla, which has always been possible, but now it was not. Suddenly I was begin told that the minimum purshase is over £12.
Although this is still good, it marks a change that has not been mentioned anywhere. The worry is that I feel this will ripple through and I fear 212 will be forcing us to spend more and more on our purchses. The advert stated that £1 was all that was needed, but things seem to be changing.
I for one hope this is temporary and they will enable Tesla to be purchased for a minimum of £1, or £5.
Is this what you’re seeing? If not please share what you see
Edit: I was hoping you’d reply sooner. But to answer the question if this image is what you’re seeing. This is just the automatic position for the slider when on number of shares. You can manually type a number of shares in by tapping the number and typing your own in. A better option would be switching to value so you can select the desired amount you wish to spend. The 0.02 shares is not the minimum order amount, as the response below have shown.
Yeah, apparently the minimum for this instrument was increased. I’m sure @Team212 can explain the reason.
Don’t worry, usually these limitations are set temporally.
This has been the case now for a couple of weeks so not sure if they will look at it unless the problem is raised. Furthermore, when it first happened I was very surprised as there was no mention of them changing it anywhere - I found out by using the system and trying to do a purchase that I had done in the past only to find it was now not possible.
if you are ordering that small a share, best off using the value option instead as it lets you go smaller but for the same price effectively have a tiny bit larger of a fraction.
The thing is, 212 is all about fractional buys and small purchases. They were even advertising on TV that you can buy shares from as little as £1. So why now make this difficult?
How is it difficult? If you are only wanting to buy a small amount like £2 then it makes total sense to use the Value option and enter £2 rather than entering something stupid like 0.0541578 haha
It is difficult because if you can buy 0.1, rather than £5, your holdings will add up over time. If you buy £5, that amount changes daily. ‘0.1’ is always 0.1.
Pardon me if this sounds rude, but that’s not the platform being difficult, that’s you being difficult.
The reverse also holds true, perhaps you can’t afford 0.1, but you can afford £5 and the result is that your holding grows by the fraction you could afford to buy. That is always greater than 0.
It’s just a minimum, no money is made in minimums.
I disagree, buying small amounts can often be better than buying none at all. One may only have a small amount to begin with. Also, dollar cost averaging is known to be the best way to invest, so even if it is small it is still a way of spreading your buys over time.
I agree no large amounts will be made, but not everyone can make a large amount.
