What is recurring buy feature?
Recurring buy feature enables you to set a scheduled day in a week or month to automatically purchase share(s) or ETF(s) of your choice. This way, you may dollar-cost average with ease on Syfe Trade.
Recurring buy feature enables you to set a scheduled day in a week or month to automatically purchase share(s) or ETF(s) of your choice. This way, you may dollar-cost average with ease on Syfe Trade.
You may follow these easy steps below to create a recurring buy order:
At the moment, you may set recurring buys only for securities that can be traded fractionally. Kindly also note that only market orders by dollar is supported for recurring buy.
What happens after the recurring buy has been set?
On the scheduled date, an order will be placed automatically four hours before the market opens. Your buying power for the recurring buy order will also be deducted. Once the market opens, your order will get executed at the market price.
On the scheduled date, an order will be placed automatically four hours before the market opens. Your buying power for the recurring buy order will also be deducted. Once the market opens, your order will get executed at the market price.
Please note that your recurring buy order will not be placed if you do not have sufficient buying power on the scheduled date. In such cases, your recurring buy will be skipped until the next scheduled date.
If your scheduled date falls on a non-trading day (i.e. trading holidays or weekends), your order will be placed on the next trading day instead. Additionally, if you have scheduled a recurring buy on a date that does not exist in a particular month (e.g. 31st of the month), your order will be placed on the last day of that month instead.
Can I amend an existing recurring Buy Order?
Once a recurring buy has been set, you will be able to view it under ‘Upcoming recurring buys’ on your ‘Portfolio’ tab. You may skip, amend or delete your recurring buys from here as well.
Once a recurring buy has been set, you will be able to view it under ‘Upcoming recurring buys’ on your ‘Portfolio’ tab. You may skip, amend or delete your recurring buys from here as well.
You may follow these easy steps below to skip, amend or delete a recurring buy order:
- Log into your Syfe account and toggle to Syfe Trade.
- Click on the 'Portfolio' icon on the bottom left of the screen
- Click on 'Upcoming Recurring Buy' in the middle of the page
- Click on orange pencil icon on the top left of the tile for the instruction you wish to skip, amend or delete and select the option.
- Submit your instruction.
