It is a recurring investment plan that buys a specified stock at regular intervals with a fixed amount. For example, set a plan to automatically buy $10 of a Apple (AAPL) stock every Monday.
Recurring Investment uses dollar-cost averaging to reduce the impact of market volatility over time. By investing a fixed amount at regular intervals, fewer shares are bought when stock prices are high and more shares when stock prices are low.
You can create an investment plan anytime, and set the investment symbol, amount, and date.
Once set, the system will place a market order for the specified stock(s) around 10:30 AM Eastern Time (ET) on the scheduled investment date. If the scheduled date is not a trading day, the order will be placed on the next available trading day around 10:30 AM ET.
1. US fractional shares permissions: Apply for permission to US fractional shares trading.
2. Sufficient funds: Deposit funds to your paying account in USD and ensure there is sufficient purchasing power on the investment day.
3. Select eligible stocks: Only certain stocks are eligible for Recurring Investment.
• Please visit Recurring Investment > Popular > View All
4. Select an investment amount: The minimum investment amount is $10.
• Note: The investment amount does not include transaction fees, which are charged separately.
5. Select a contribution frequency: You can invest daily, weekly, biweekly, or monthly (excluding the 31st).
•If there is a holiday, the execution will be postponed until the next available trading day. If the next available trading day is also an investment day, the original investment plan will be executed to avoid extreme situations of over-investment on the same day.
•For example: Mr. Wang sets up a daily investment plan and encounters a New Year's Day holiday on January 1st. January 2nd is a normal trading day, and the system will only execute Mr. Wang's investment plan for January 2nd, not the one for January 1st.
6. Manage your Recurring Investment: You can adjust, pause, or stop the plan at any time. You can adjust the investment amount and contribution frequency.
•Pause the plan: The next scheduled investment will not be executed. You can also resume the plan later if needed.
•Stop the plan: Subsequent investments will not be executed, and you can't resume it. If you wish to continue investing, you will need to start a new investment plan.
•Automatic termination: For universal account payments, if the payment fails three times in a row, the investment plan will be automatically terminated.
Note: As Recurring Investment uses a market order, the investment amount is converted into shares by dividing the actual order amount by the market price. To limit the investment amount from being exceeded, the actual order amount is calculated by multiplying the investment amount by a factor (with a range of [0,1] and subject to adjustments as required).
After placing an order in your Recurring Investment, the actual order amount may differ due to the order calculation, and the order may execute successfully or fail.
1. Order execution: The system calculates the number of shares for a market order as (investment amount * factor) / market price, and submits a corresponding market order immediately.
2. Successful order: The actual cost will be based on the order price. After the successful execution of the plan, the purchased stocks can be viewed in your holdings.
3. Failed order: Your order may fail for one of the following reasons below.
a. Buying 0 shares while funds are sufficient may be due to an illiquid market or extreme weather. Other extreme situations may include technical issues that can't be resolved immediately.
b. Holding a short position for the same stock. If the stock has a short position in your account, the short position will be retained and the order execution will fail.
c. Insufficient purchasing power: If the maximum purchasing power in your account is insufficient on the scheduled investment day, the order execution will fail.
d. Other reasons: If the stock is suspended from trading, or if it's no longer supported for Recurring Investment or fractional share trading, then the order execution will fail. Recurring Investment may also fail if either the user or the stock is prohibited from trading.
Disclaimer: Securities prices may fluctuate significantly, and there is no guarantee of profit or protection against losses. If the designated investment amount is insufficient to purchase a whole share, fractional shares will be purchased.
You can view Recurring Investment orders and stocks with Recurring Investment tags by going to:
• Accounts > Select an account > Orders
Alternatively, to check the details of your saved plans you can also go to:
• Accounts > Select an account > More > Recurring Investment > My Investments
You can adjust the plan as you like, such as the investment amount or contribution frequency or pause Recurring Investment after creating it. There is no limit to how many times you can adjust each plan.
• Any adjustments made after 9:00 AM ET on the day of scheduled investments will take effect on the next scheduled investment day.
• If you stop Recurring Investment, it cannot be recovered, and you would need to create a new plan if you want to resume investing regularly.
You'll receive push notifications and in-app messages to remind you of your Recurring Investment three days and one day before each scheduled investment day at 10:00 AM ET.
• You also receive notifications of any successful or failed orders in your plan.
• If your plan stops due to insufficient funds after three failed attempts, we'll let you know that it has been terminated.