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Step-by-step guide to invest in Monthly Investment Plans


Step-by-step guide to invest in Monthly Investment Plans

In our previous article on monthly investment plans, we compared the various services offered by banks and brokerage houses and how these plans could help retail investors enter into the stock market via dollar-cost averaging without paying high commission charges.

For today, we will take an example of one such monthly investment plan offered by Maybank Kim Eng and provide a step-by-step walkthrough of the platform to explain how you could use it.

Step-by-step guide to invest in Monthly Investment Plans

  1. Open a Maybank Kim Eng KE Trade Prefunded Account.
  2. Log in to your KE Trade Account.
  3. Click on “e-Services” tab as shown below.Picture 1
  4. Select your prefunded account (completed previously in step 1), key in the amount to invest and key in the name of the counter you wish to purchase.Picture 2
  5. Alternatively, you may also click on the “List of Eligible Securities” (the 3rd tab on the top) to view or search for all counters available offered under their monthly investment plan.
  6. You may search by markets, or search by counter code or counter name. You may also choose to display all eligible securities by clicking “ALL” markets and hit the “Search” button.Pic3

Maybank Kim Eng’s Monthly Investment Plan does offer distinctive features that we like.

Lots of companies to choose from

The platform allows users to select from 225 counters over 5 different markets (Singapore, US, Hong Kong, Malaysia, Thailand). From what we know, they offer by far the largest amount of stocks that you can select from.

Low commission charges

Even if you were to invest as little as $100 a month, the sales charges still stick at 1%.

Our Take On Monthly Investment Plan

Whether you choose to use Maybank Kim Eng’s Monthly Investment Plan or those offered by other financial institutions such as OCBC, POSB or POEMS, the same value proposition holds true and that is the fact that these plans allow retails investors to gain access to dollar-cost averaging when buying stocks. As long as the commission charges remain low and the selections of stock counters are adequate, this will be an easy and affordable way to get started in stock investments.

Article was first published on K.I.S.S Investing, a website aiming to keep stock investing simple.

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