Yes, with Spaceship you're generally able to buy and sell US securities in fractional amounts.
However, fractional shares/units aren't transferable to other brokers. You can learn more about transfers here.
What are fractional shares/units?
Fractional shares/units refer to partial or fractional ownership of a single share of a company's stock or a single unit in an ETF.
Traditionally, shares/units are typically purchased in whole numbers, such as one share or five shares. However, fractional shares/units allow investors to buy and own a portion of a share/unit, even if they can't afford to purchase a whole share/unit.
Fractional shares may have limitations, such as restrictions on voting rights. These can vary depending on the brokerage and the specific stock being traded.
Holders of fractional shares/units are entitled to dividends and distributions proportional to their holding.
Ownership of fractional shares
Fractional shares/units are held in your name with our brokerage provider and kept in custody, just as whole shares are. You can learn more about the custodian model here.