1.Range of Investments, Trading Rules & Charging Policy
1.1 Range of Investments：
Currently only covers the U.S. stock market (the same stock target pool).
1.2 User Rights:
Auto-invest is based on the ability of US fractional shares, and only supports buy in amount. User who wishes to participate in auto-invest plan must open the fractional shares trading function.
1.3 Trading Rules:：
1.3.1 What is the threshold for investment?
The minimum for users to participate in Auto Invest is USD 2.
1.3.2 Does Tiger support financing purchases?
Yes, if your prime account is margin account, you are able to purchase with margin. However, you need to manually open it on the set-up page of auto-invest. If you allow financing auto-invest, please make sure that there are sufficient funds prior to the charging day, otherwise margin interest may occur.
1.3.3 Can I use Tiger Vault for auto-invest?
Yes, if you have opened the auto sweep function of the Tiger Vault, the cash in your account and the US dollar assets in the Tiger Vault will be deducted first when placing an order. If you choose buy on margin, you may also use your financing buying power.
1.3.4 Can I use my bank account to pay auto-invest?
No, currently the auto-invest only supports debiting from Tiger Prime account. In order to ensure the success of the auto-invest, the user can manually set up recurring deposit. If you set the recurring deposit, you need to manually modify or cancel it after modifying or canceling the auto-invest plan. Otherwise, the recurring deposit will continue to be implemented according to the original plan after the auto-invest plan is revised.
1.3.5 Can I use vouchers or commission-free cards for auto-invest?
Auto-invest supports the use of auto-invest vouchers, but does not support the use of commission-free cards.
1.3.6 At what price will the investment be sold?
After the auto-invest plan is successfully set, the system will place a market order on the date (EST) specified by the users. The order will be placed around 13:30pm EST . If the market closes early on the day, the order time will be advanced to around 10:30am EST. If the day is a non-trading day (ie Saturday, Sunday or legal holiday), the order time will be postponed to around 13:30pm EST (or 10:30am) on the next trading day.
1.3.7 What is the frequency of execution?
The execution frequency of the auto-invest will be executed at the corresponding time of each investment's exchange. If you set up an auto-invest of US stocks every week on Monday, the execution time will be every Monday Eastern Time.
1.3.8 In what order will my auto-invest be placed on the market if I have more than one order in the same day?
If a user has multiple auto-invest plans to execute on the same day, they will be executed according to the creation time (in ascending order) of the auto-invest plans, that is, the auto-invest plan created by the user first will be executed first.
1.3.9 Can the auto-invest order be modified or cancelled?
If you want to modify or cancel this auto-invest, you can do it through the details page of the auto-invest plan (Position-Securities-Auto-invest -My Auto-invest Plan). The modification and cancellation of the auto-invest plan is not supported half an hour before the execution of the auto-invest order.
1.3.10 Can I resume my plan after cancellation?
Yes, you can resume your canceled investment plan on the auto-invest plan details page (Position - Securities - Investment - My Auto-invest Plan).
1.3.11 Can I cancel my order manually after I submit it?
Auto-invest orders cannot be modified or canceled after the orders are placed.
1.3.12 Under what circumstances would the system skip the current investment cycle?
The auto-invest plan will skip the current investment cycle under following circumstances and orders of the auto-invest plan will not display on the transaction record :
If the ETF or stock cannot be traded on that day
Your securities account currently has trading restrictions
Your funds of prime account do not meet the order requirements, or the order may trigger a margin call notification on the margin account
1.3.13 Will there be a reminder before the execution?
We will send you a push and in-app notification 2 calendar days (EST) before the execution of each auto-invest plan. At the same time, we will also send you a corresponding push or message reminder if the orders of auto-invest are filled or canceled. The failure of the scheduled order will not affect the implementation of the subsequent scheduled investment plan.
1.3.14 Where can I check my order?
Orders are shown in the position - securities - orders. Orders with AIP labels are auto-invest orders. You can also click on the corresponding auto-invest plan in the position - more - auto-invest - my auto-invest plan to query.
1.4 How to collect the auto-invest fee?
The plan itself does not charge any management fee. Orders placed under the plan will be charged as follows:
When the number of stocks filled is less than 1 share, we will charge a fee of 1% of the transaction amount, up to a maximum of $1 US dollar. When the number of stocks filled is greater than or equal to 1 share, standard US stocks & ETFs trading fees apply.
1.5 What is the difference between the average cost in the auto-invest plan's details page and the average cost of the position?
The average cost in the auto-invest plan's detail page = accumulated auto-invest amount / auto-invest quantity. The accumulated auto-invest amount includes transaction fees. The average cost does not consider dividends, etc., for reference only. For more accurate holding costs, please refer to the position's cost methods.
2.Auto-invest Rate of Return and Calculator Formula Description
2.1 Auto-invest Rate of Return:
2.1.1 What is auto-invest rate of return?
The auto-invest rate of return is a historical back-test rate of return, which is calculated based on the historical price of stocks and ETFs, assumptions including the system set auto-invest period and auto-invest duration, and etc. The calculation result of auto-invest rate of return is for reference only, and does not represent a prediction or guarantee of future returns, nor does it constitute any investment advice. Tiger cannot guarantee the accuracy of the calculation result. Investors need to independently evaluate the risk well to make investment decisions.
2.1.2 How to calculate the back-test return rate of auto-invest?
The auto-invest rate of return adopts a simple yield calculation formula: that is, the auro-invest yield = the cumulative return in the auto-invest cycle/the cumulative auto-invest amount in the auto-invest cycle * 100%
Accumulated Return = (Current Price * Accumulated auto-invest Amount) - Accumulated Auto-invest Amount
Cumulative auto-invest amount = auto-invest amount per period * auto-invest period
2.1.3 The relevant assumptions of the auto-invest rate of return formula?
Auto-invest frequency: when calculating auto-invest rate of return, the frequency of auto-invest is set default to a every week Monday. If Monday of the auto-invest cycle is a non-trading day, the system would then skip this cycle.
Auto-invest cycle: Take the last calendar day as the starting point, and every 365 calendar days in history as 1 year, and so on. If the listed time of the investment is less than a whole year(or 365 days), only the remaining actual days are calculated in that year.
Auto-invest price: The auto-invest transaction price and the current price are calculated from stock split price . If there is a corporate action such as a stock split, the calculator will generate the results by using the split-adjusted prices. Dividends, commissions and other transaction fees (such as foreign exchange fees) are not included in the calculation of historical back-testing yields.
2.1.4 How often is the auto-invest yield updated?
The auto-invest yield is updated on a daily basis based on the closing price of the most recent trading day. The price of the actual order may fluctuate from this price, so the reference value of the results displayed in this calculator may be limited and investors should not rely entirely on this calculation.
2.2 Auto-invest Calculator
2.2.1 What is a fixed cast calculator?
The Auto-invest Calculator is a visual tool to back test historical return rate of auto-invest plans. Based on the historical prices of stocks and ETFs, the historical rate of return can be computed by setting parameters such as the fixed investing amounts, investing frequencies, and investing length. The calculation result of auto-invest rate of return is for reference only, and does not represent a prediction or guarantee of future returns, nor does it constitute any investment advice. Tiger cannot guarantee the accuracy of the calculation result. Investors need to independently evaluate the risk well to make investment decisions.
2.2.2 How to calculate the back-test return rate of auto-invest calculator?
The back-test return rate of auto-invest calculator is the same as the back-test return rate of auto-invest. It adopts a simple yield calculation formula: that is, the auro-invest yield = the cumulative return in the auto-invest cycle/the cumulative auto-invest amount in the auto-invest cycle * 100%
Accumulated Return = (Current Price * Accumulated auto-invest Amount) - Accumulated Auto-invest Amount
Cumulative auto-invest amount = auto-invest amount per period * auto-invest period
2.2.3 What assumptions is the calculator based on?
The back-testing historical return of the calculator is based on the closing price of the relevant auto-invest date, however, the price at the time of placing actual auto-invest orders may fluctuate from the closing price. Therefore, the results shown on the calculator may have limited reference value and investors should not rely solely on those calculation results.
If there is a corporate action such as a stock split, the calculator will generate the results by using the split-adjusted prices.
The results do not take into account the impact of dividends, commissions and other transaction fees (e.g.: foreign exchange conversion fees).
The auto-invest period takes the latest trading day as the starting date and traces back to 365 days to the historical date as 1 year, 730 (365+365) days as 2 years, and so on. If the stock or ETF listing time is less than a whole year (for example, less than 365 days, 730 days, etc.), the auto-invest period is based on the actual days.
If during the back-test period, the auto-invest implementation day happens to be a non-trading day or the underlying stock or ETF does not support trading, the test will skip this trade and does not count it in the calculation.
2.2.4 What can investors get from the auto-invest calculator?
Comparing the historical returns on auto-invest of different stocks or ETFs within the same period.
Comparing the historical returns on auto-invest of the same stock or ETF investment within different periods or with different investing frequencies.
Recommended screening criteria for the most popular investments
3.1 What are the screening criteria for popular list targets?
The stocks and ETFs with3&5 years auto-invest rate of return are above 0% . Meanwhile, they are arranged from high to low according to the total volume from 2022.08.01 to 2022.10.31. The two stocks and ETFs with the highest trading volume are shown on the auto-invest page.
3.2 How often are the above investments updated?
Second week of the month.
4.Featured Tag Filter Logic
4.1 What are the screening criteria for the four popular tags?
High Dividend Yield：1. Dividend Yield>=4%，2. Price>$5
Warren Buffet：1. Float market cap>=$500M，2. Net profit growth rate annual>=6%, 3. Growth margin (TTM) annual >=30%, 4. OP/EBT annual >=70%, 5. ROE YOY annual >=10%, 6. Price>$1
Value & Growth：1. P/E (TTM) 0-30，2. Market Cap>$500M, 3. ROE YOY annual >=20%, 4. Growth margin (TTM)>=5%, 5. Revenue growth rate annual>=20%, 6. Price>$1
Undervalued：1. Float Market Cap>=$500M，2. Growth margin (TTM) annual >=30%, 3. P/E (TTM) <=15, 4. Price>$1
4.2 How often are the above tags updated?
Among the above indicators, the stock price & dividend yield is the latest price & ratio, and the circulating market value, total market value and Price-To-Earnings Ratio refer to the data of the most recent trading day