Our unique fractional share program allows you to purchase securities in dollar amounts rather than share quantities.
As the US market operates on a books and records basis, shares are grouped at the bank level who reports the holdings to the exchange.
This means that the broker (in this case DriveWealth) can assign rights to shares through a books and records system. This allows share ownership to be split between various clients of that bank.
Note: In most instances, the dollar amount executed will match the dollar amount requested. However, due to market movements, a fractional order may be executed for a few cents less than the requested dollar amount and never more.