The Texas-based investment broker’s ‘Schwab Stock Slices’ will allow investors to own a part of a share of a listed S&P 500 company for as little as $5, even if the full share costs more.
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Charles Schwab, which currently has 35.4 million active brokerage accounts, said the fractional trading will help to alleviate the barrier to entry associated with owning shares of large-cap stocks by making investing in them “more accessible”.
It added that fractional shares “are rising in popularity among retail …