Many brokers now support fractional share trading and offer APIs, but the features and capabilities can vary significantly. Here are some of the top brokers known for their APIs and support for fractional share trading:
Interactive Brokers: Known for its extensive API offerings, Interactive Brokers provides direct market access and supports fractional share trading through its Trader Workstation (TWS) API, FIX API, and REST API. The APIs allow for programmatic trading and data retrieval, catering well to both retail and institutional traders.
Robinhood: While Robinhood’s API access is more limited compared to others, it offers a Platform API program that allows for certain integrations. It supports fractional shares, which are particularly appealing to retail investors interested in trading high-priced stocks with small amounts of capital.
Alpaca: This fintech startup is particularly noted for its API-first approach, providing a commission-free trading platform. Alpaca enables fractional share trading via its REST API, making it a popular choice for developers and algorithmic traders.
TD Ameritrade: Offering a comprehensive set of APIs, TD Ameritrade is a solid option for developers seeking to build custom trading solutions. Its platform supports fractional shares which can be traded via its thinkorswim platform, while the API allows integration with various custom applications.
Fidelity: While primarily known for its traditional brokerage services, Fidelity offers fractional share trading through its Stocks by the Slice program. The Fidelty Wealthscape platform has an API, though it’s more accessible to certain professional clients.
M1 Finance: Specializing in pie-based investing, M1 Finance provides a unique approach to fractional share ownership. While they don’t offer a public API for trading, their streamlined functionalities make them an attractive choice for those who want to invest in fractional shares without needing programmatic access.
When choosing a broker for fractional share trading with API support, consider the specific features and requirements of your trading strategy, such as fees, execution speed, available markets, and the sophistication of the API provided. Additionally, clarify the limits or constraints each broker may have on fractional trading, as this can impact the execution of your trading algorithms.
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