Lot Size

[erol]

I was wondering, what the smallest lot size can be for an order.

For example, if the shares are $150+, can I buy as few as 3-5 shares? Or will brokers typically not fill these types of orders?

 

[TheAngryHermit]

1 share.

I know because I bought one single share by accident once and it was filled.

Only cost $2 roundtrip with Interactive Brokers, so it wasn't the end of the world.

 

[erol]

lol
that is awesome thanks!

I've heard brokers calling clients asking them to sell odd lot sizes, what is the reason for that?

 

[Susannah]

Quote from TheAngryHermit:

1 share.

I know because I bought one single share by accident once and it was filled.

Only cost $2 roundtrip with Interactive Brokers, so it wasn't the end of the world.

Ugh, I've done this about 5 or 6 times since I've been trading both futures and stocks lately, I keep the default size set to 1 because I'd rather accidentally buy 1 share of stock than 100 futures contracts.