Not all fractionated coconut oils are made equal. Some fractionated coconut oils are meant for skin care. Some are created for consumption, and these edible fractionated coconut oils can also be used for skin care.
If you're looking for one that is edible, the name of the fractionated coconut oil would be either MCT oil or liquid coconut oil. The type that is labeled 'fractionated coconut oil' is usually the type that you cannot eat since it is not FDA approved. It is solely for skin care purpose.
MCT oil is made specially for medical use (mainly in the treatment for malabsorption) or for athletes who want to improve their performance through reducing body fat and enhancing endurance level. Liquid coconut oil is created for people who prefer to cook with fractionated coconut oil rather than using virgin coconut oil.
Fractionated coconut oil, in general, composes of only 2 compounds – caprylic and capric acids. It has the advantage (over virgin coconut oil) of remaining in liquid state even at low temperatures – between 14 and 25 °F (-10 and -4 °C).
But to increase its health benefits for the edible type especially liquid coconut oil, some manufacturers will add certain controlled amount of lauric acid into the content. But they can't add much because lauric acid will raise the melting / freezing point of the overall content, making the oil unable to stay in liquid form in a low-temperature climate, causing great inconvenience in cooking.
As mentioned earlier, you can also use edible fractionated coconut oil for skin care. Because it is relatively thinner since it contains mainly caprylic and capric acids which are medium-chain fatty acids, your skin can absorb the oil very quickly, giving your skin a smooth and supple feel.