After I set up the Tiger Trade SG account using the mobile app on my phone, it was important for me to have an automated investment plan for US stocks and ETFs in place that required minimal monitoring and action on my part. While I would have preferred to initiate this during a bear market like 2 months ago, I know it’s better to get started now even if it’s during a bull market. The investing structure first has to be set up and adjustments can be made later. Otherwise, having no investing structure makes it difficult to take positions later.
On the “Home” page of my Tiger Trade SG mobile app account, I click on “More” to see “All Functions”. Then I click on “Funds”, followed by “Deposit”. For “Deposit with SGD”, I go with the “PayNow” deposit method. An account-specific QR code is generated for me to transfer SGD funds into it via PayNow.
After the SGD funds has been deposited, I click on “Convert” to change my SGD to USD. I also set up “Auto Conversion” at 100% so that the next time my SGD funds are deposited, they are auto-converted into USD. Saves me a step from having to do manual conversion.
I go back to “All Functions”, click on “Trade”, followed by “Tiger Vault” and set up “Auto-Sweep” for USD Cash. This automatically transfers my idle USD cash into a Tiger Vault account, where it can earn a money market fund yield. When USD cash is needed for trading, the system automatically converts the Tiger Vault holdings back into buying power.
I then go back to “All Functions”, click on “Auto-invest”. Under US market, I click on “Add a plan”. I choose the US stock or ETF that I want to set up the Auto-invest Plan on, the amount, payment method and frequency before submitting it.
When USD goes down against SGD (like what’s happening recently), I transfer hundreds of SGD at a time into my Tiger Trade SG account using PayNow. It gets auto-converted into USD, auto-swept into Tiger Vault to start earning a yield while the auto-investing happens based on the set frequency and amount. My investing action going forward is the SGD funds transfer into my Tiger Trade SG account using PayNow. Which I think is possible to automate using Direct Debit Authorisation (DDA) but I have yet to explore this in detail.
The big question is what US stocks and ETFs to set up auto-invest plans for on my Tiger Trade SG account. For this to work long term (bearing in mind platform risk), I’m starting with the following lower risk US stocks and ETFs due to big market caps. Meaning the returns may not be as high since they may not grow as quickly anymore. But they are also unlikely to collapse anytime soon. I’m also going with smaller daily buys of USD 2 for fractional investing of each US stock and ETF. The total fee for each daily buy order of USD 2 is a 1% platform fee – USD 0.02. So USD 1.98 will be used to fill the order.
- SPDR Portfolio S&P 500 ETF (NYSEARCA: SPLG)
- Invesco NASDAQ 100 ETF (NASDAQ: QQQM)
- Microsoft Corp (NASDAQ: MSFT)
- NVIDIA Corp (NASDAQ: NVDA)
- Apple Inc (NASDAQ: AAPL)
- Amazon.com Inc (NASDAQ: AMZN)
- Alphabet Inc Class A (NASDAQ: GOOGL)
- Meta Platforms Inc (NASDAQ: META)
Let’s see how these auto-invest plans perform over time. When the markets dip, I intend to adjust the daily invested amounts upwards. As a tip, when I’m unsure of anything, I ask the questions using prompts in Google to get an AI Overview response (instead of Search results) or in ChatGPT to get the AI response. It’s a good way to give me a starting point on what road I want to go down since it summarises the available info and suggests action plans depending on my prompts. Instead of me sifting through a large amount of content that can take a long time to break down before I can come up with basic action points.
Here’s my affiliate link if you are interested in setting up a Tiger Trade SG account: https://tigr.link/s/70BPkYE
Here’s my referral code if you are interested in setting up a Tiger Trade SG account: BM29SF
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always do your own research or consult a licensed financial advisor before investing.