moomoo CA Help Center-How to Start a Stock AutoBuy Plan
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Help Center AutoBuy (Recurring Investment) AutoBuy for US Stock How to Start a Stock AutoBuy Plan

How to Start a Stock AutoBuy Plan

1. What is an AutoBuy Plan

AutoBuy is a recurring investment plan that buys a specified stock at regular intervals with a fixed amount. For example, you can set a plan to buy 1,000 USD worth of a stock every Monday.
An AutoBuy Plan 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.
 
 

2. Investment Process

You can create an AutoBuy 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.
 

2.1 Start your AutoBuy Plan

  1. Trading permissions: Ensure your account has trading permissions for US stocks.
  2. Sufficient funds: Deposit funds to your paying account in USD and ensure there is sufficient cash buying power on the investment day.
  3. Select eligible stocks: Only certain stocks are eligible for an AutoBuy Plan. To get the full list of eligible stocks, go to Accounts> More > AutoBuy > Top AutoBuy Investments > All.

  1. Enter an investment amount: The minimum investment amount is 10 USD if debited from an RRSP, TFSA or Cash account, and a minimum purchase of one share is required.
      Note: The investment amount does not include transaction fees, which are charged separately. To determine how many shares you can buy with an AutoBuy investment, we divide your set investment amount by the current stock price and then round down to the nearest whole share. For example, if the price of stock ABC is $110 and your AutoBuy investment amount is $1000, you will be able to buy 9 shares.
  2. Select a frequency: You can invest daily, weekly, biweekly, or monthly (excluding the 31st).

    1. 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.

    2. For example: Jack 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 Jack's investment plan for January 2nd, not the one for January 1st.
  3. Manage your AutoBuy plan: You can adjust, suspend, or stop the plan at any time. You can adjust the investment amount and frequency.
    1. Suspend the plan: The next scheduled investment will not be executed. You can also resume the plan later if needed.
    2. Stop the plan: All future 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.
    3. Automatic termination: If the payment fails three times in a row, the investment plan will be automatically terminated.

2.2 Order executions

After placing an order in your AutoBuy Plan, the actual order amount may differ due to the order calculation, and the order may execute successfully or fail.
  1. 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.
  2. 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 buying power: If the maximum buying 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 AutoBuy Plan, then the order execution will fail. An AutoBuy Plan may also fail if the user is prohibited from trading.
 

2.3 View AutoBuy orders

Orders placed using AutoBuy will have an Auto tag. You can view your AutoBuy orders by going to:
  • Accounts > Orders
To check the orders associated with a specific AutoBuy Plan, go to:
  • Accounts > More > AutoBuy > My Investments

 

2.4 Adjust, suspend, or stop your AutoBuy Plan

  • You can adjust the plan as you like, such as the investment amount, frequency, or suspend the AutoBuy Plan 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 an AutoBuy Plan, it cannot be recovered, and you would need to create a new plan if you want to resume investing regularly.

 

2.5 AutoBuy Plan Notifications

You'll receive push notifications and in-app messages to remind you of your AutoBuy Plan 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.