Sharesies have now released an update to their platform allowing you to Auto-Invest in US stocks. This allows you to dollar cost average investing.
Sharesies NZ have now released their new Auto-Invest feature for investing in US companies. This is potentially a very handy and convenient way for people to regularly invest in over 5000 US companies and ETFs easily, and on a regular basis.
This new feature essentially allows you to dollar cost average into buying a broad range of US stocks and ETFs, without the need to manually buy shares regularly. So it can be a big time saver for people investing a regular amount on a regular basis.
Sharesies did already have an Auto-Invest feature but it was mainly limited to NZ ETFs. The new Auto-Invest feature allows people to invest in over 5000 companies and EFTs in the USA. It also allows you to invest in EFTs in New Zealand through SmartShares EFTs.
How to use Sharesies Auto-Invest in US Stocks
The new Sharesies Auto-Invest for investing in US stocks, is available under the Auto Invest section of the Sharesies website or app. You go to the DIY Order page. From DIY Order page you can add US Shares from over 5000 US Companies and Exchange traded Funds (ETFs). This is across the three US Exchanges.
Select the companies and ETFs you want to add to your DIY Order, and the percentage you want of each one. Then input how much you want to invest on a regular basis, and the interval (eg Weekly, fortnightly, monthly). Then selects the start date. Then you are ready to auto-invest in US Stocks.
Money gets automatically deducted from your Sharesies wallet. So you need to make sure you also top up your wallet regularly. You need to make sure you always have enough in your wallet to fulfill the orders. You can also add NZ funds from over 30 ETFs on the New Zealand Stock Exchange.(NZX)
Sharesies is one of the only platforms in New Zealand that offers this sort of auto-invest in US stocks like this. Most others mainly do it for ETFs and funds, but not in US stocks themselves.
If you are not already a Sharesies Member, you can join for free and get a $5 free credit by using our Refer a Friend link below. View more information on the Sharesies Promo Code - Free $5 Credit.
How our friends can get their Free $5 Sharesies Promo Code Credit:
The Sharesies Promo Code link our friends can use when they signup is https://sharesies.com/r/CSRWQN. Or click the 'Sign Up Now' button below.
Please note that you need to fully complete the entire signup process in order for you to qualify for the free $5 credit, and you must use our Sharesies Referral Link. We have noticed that some friends have started the signup process, but have not yet completed it. Please note that you shouldn't need to enter any promo code in the signup form. We will also receive $5 credit when you signup, so it is Win-Win.
* Sharesies Referral Terms and Conditions can be read at Referral Terms & Conditions—Sharesies
Photo by Artem Podrez
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