Kyobo Securities Launches Automatic Purchase Service for U.S. Stock Accumulation

Published 31 May.2021 10:28(KST)

[Asia Economy Reporter Minji Lee] Kyobo Securities GBK (Global Brokerage) Department announced on the 31st that it has added an automatic accumulation purchase feature for U.S. stock orders to enhance investment convenience.

The automatic accumulation purchase feature is available only for the U.S. stock market among overseas stock markets. Users can select desired stocks and set the frequency (daily, weekly, monthly), quantity, and amount to schedule automatic purchases.

Orders are executed in the order of purchase requests at the start of the regular market. Notifications are sent via AlimTalk messages in case of insufficient margin or unexecuted orders. When only Korean won is deposited into the overseas stock account, the order is executed in Korean won and automatically converted to foreign currency the next day.

Choohee Choi, head of the GBK Department, said, “We recommend this to young adults in their 20s and 30s who are starting long-term investment with one share or small amounts, as well as to parents investing for their children. It can be conveniently used for dollar-cost averaging investments in U.S. growth stocks, which have recently become more volatile.”