iM Securities launches fractional trading for Korean stocks
In short
iM Securities said on October 6 that it began a fractional trading service for domestic stocks, letting investors buy and sell in units smaller than one share. Trading is limited to KOSPI 200 and KOSDAQ 150 constituents, with a minimum order of 1,000 won and orders accepted around the clock. The brokerage aggregates orders four times a day for batch execution, and holdings that reach one full share are automatically converted to regular shares.
Read the full story 1 min read
iM Securities said on October 6 that it has launched a fractional trading service for domestic stocks, allowing investors to trade in units smaller than one share, according to the official-tier Yonhap news agency and two business outlets. [ 1 , 2 , 3 ]
The service is available for constituents of the KOSPI 200 and KOSDAQ 150, while market-action stocks and exchange-traded funds are excluded, the company said. The minimum transaction amount is 1,000 won, and orders can be placed 24 hours a day. iM Securities collects investor orders four times a day, executes them in bulk and then allocates the shares, according to the reports. [ 1 , 3 ]
Holdings built through fractional trading are automatically converted into ordinary whole shares once an investor’s balance reaches one share, the documents say. [ 1 , 3 ]
The company is also applying fractional trading to its domestic stock accumulation service, a regular instalment-style buying plan in which an amount chosen by the investor is purchased automatically on a designated date. A business outlet reported that investors can apply with at least 1,000 won per stock and up to 10 stocks per account. iM Securities already offers fractional trading and an accumulation service for US stocks, and the services are available through its mobile trading system once a trading agreement is registered. [ 3 ]
An iM Securities official said the service “broadened customer choice” so that investors can put money into the domestic stocks they want regardless of the size of their investment, adding that the company will continue to provide services that make it easy to start and continue investing. [ 1 , 3 ]
The Korea Economic Daily carried the launch in its headline, but the article text distributed with it covered unrelated market stories. [ 2 ]
Why it matters
The launch widens access to Korean equities for small investors who cannot afford a full share of high-priced stocks, a segment Korean brokerages have been expanding. It also extends fractional trading, already offered by iM Securities for US stocks, further into the domestic market.
Key facts
- iM Securities said it launched a fractional trading service for domestic stocks on October 6. [ 1 , 2 , 3 ]
- Trading is available for constituents of the KOSPI 200 and KOSDAQ 150, while market-action stocks and ETFs are excluded. [ 1 , 3 ]
- The minimum transaction amount is 1,000 won and orders can be placed 24 hours a day. [ 1 , 3 ]
- The company collects investor orders four times a day, executes them in bulk and allocates the shares. [ 1 , 3 ]
- When an investor’s holdings reach one full share, the position is automatically converted to ordinary whole shares. [ 1 , 3 ]
- Fractional trading is also applied to the company’s domestic stock accumulation service, which allows regular purchases of a set amount. [ 1 , 3 ]
- iM Securities already offers fractional trading and an accumulation service for US stocks. [ 3 ]
Confirmed by several sources
- iM Securities launched a fractional trading service for domestic stocks on October 6, as stated by an official-tier outlet and reported by two business outlets. [ 1 , 2 , 3 ]
- The service covers KOSPI 200 and KOSDAQ 150 constituents, excluding market-action stocks and ETFs. [ 1 , 3 ]
- The minimum order is 1,000 won with 24-hour order placement and four batch executions a day. [ 1 , 3 ]
- Balances that reach one share are automatically converted to ordinary shares. [ 1 , 3 ]
- iM Securities said the service broadens customer choice regardless of investment size and that it will keep providing services that make investing easier to start and continue. [ 1 , 3 ]
Still unclear
- Whether the service carries any fees or conditions beyond the stated limits. None of the documents mention fees or other charges.
- How many customers or how much volume the new service has drawn. No usage figures are given; the service was announced the same day it was reported.
- Details of the launch from the Korea Economic Daily beyond its headline. The article text carried by that outlet covers unrelated stories, so only its headline supports the launch.
What local media are saying
Timeline, local time
- An official-tier outlet reports that iM Securities began its domestic stock fractional trading service. [ 1 ]
- A business outlet reports the service launch under the headline that iM Securities opened fractional trading for domestic stocks. [ 2 ]
- A second business outlet reports the launch, adding accumulation-service and MTS details. [ 3 ]