Can I Automatically Invest $10 Daily in an ETF?
Here’s a summary of the main problem reported and the solutions discussed:
- Main Problem: The user, Tave, wants to know if it’s possible to automatically invest $10 every day into an ETF for dollar cost averaging (DCA).
- Solution: Currently, automatic investment into ETFs is not available; users can only auto-invest into mutual funds they already own.
- Additional Guidance: The user can manage recurring transfers under the “Accounts & Trade” tab on the Fidelity website.
- Resources Offered: FidelityTaylor provided resources on dollar cost averaging available on their website, including a specific article link for further reading.
Here’s the full thread
Is it possible to automatically invest 10$ everyday on an ETF? I want to do dollar cost averaging (DCA). Is this possible?
Hey, thanks for your question @Tave!
At this time, we do not offer the ability to automatically invest your funds into an ETF. The current feature allows you to auto-invest into mutual funds you already own in the account. You can do this under the “Accounts & Trade” tab on our website, selecting “Transfers” in the dropdown, and “Manage recurring transfers.” That said, I will definitely take your question here as feedback to pass on.
I also wanted to point out that we have a ton of resources about Dollar Cost Averaging on our website if you wanted to learn more. Simply search “dollar cost averaging” in the top right corner. I included an article below to help you get started.
Pros and Cons of Dollar Cost Averaging: https://www.fidelity.com/learning-center/trading-investing/dollar-cost-averaging
Let me know if I can help with anything else! 🟢