By using a value order you will be able to lock-in the exact monetary value of your trade. This will help you allocate your funds across different investments with increased precision - down to the last penny. The feature has been requested from many users (especially people following a DCA (Dollar-cost averaging) strategy and we’re happy to deliver!
How it works:
Let’s say you want to buy some Tesla. Up until now, you had to specify how many shares you want to buy and then get an estimation of the expected cost based on the current market price of the stock.
This essentially flips the logic of the order and now you are locking-in how much money you want to spend. The number of shares you will get becomes an estimate.
Value mode is also available with sell orders. The only difference compared to buy orders is that if you want to sell more than 95% of your position the order gets automatically switched to ‘Number of shares’ mode.
How to join the beta:
If you wish to join the beta and get early access to the feature please sign up here. You will receive a notification as soon as we activate the beta for your account.
Will you release this beta also in the web app? Or for now only the mobile app? I do most of my transactions there since it is somewhat faster when you have lots of stocks to buy.
Hi @Vedran, unfortunately not yet, but eventually - yes. As soon as we enable fractional shares for limit / stop orders you will have your game changed
Seriously! these changes mentioned in here and stuff like DRIP and autoinvesting make me incredibly excited, this platform has been amazing so far and I’m really excited for everything to come
Hi Alex, I received the notification for the Beta tester but if I go to buy a fractional share it doesn’t give me the opportunity to switch from amount to value like in your screenshots.
Please, make sure you have the latest version of the app.
Also, the beta flag is not supporting “live” migrations, so you may want to try to switch your account once OR alternatively: kill the app and reopen it. Either one works.