Terms and Conditions for automated investment plans
April 2025
These terms and conditions for automated investment plans (“Terms”) govern the provision of the Auto-Invest Plans (“AIPs”) and Dividend Auto-Invest Plan (“DAIP”) services by Tiger Fintech (NZ) Limited (hereinafter referred to as “we” or “us”). The Terms supplement and should be read together with the Client Service Agreement and any other terms and conditions relevant to these services, including but not limited to help files and FAQs on our website, as they may change from time to time. In the event of any conflicts between the Client Service Agreement and the Terms, the latter shall prevail. Unless otherwise specified, all capitalised terms not defined within the Terms shall have the same meanings given to them in the Client Service Agreement.
You must maintain an Account for the purpose of settling payments in relation to automated investment plans.
You need to instruct us of the amount (“Contribution”) and the dates to process your automated investment for a certain security. Trading-related fees will be paid from the Contribution. If a date specified for a certain automated investment plan’s order (“Order”) does not fall on a trading day, we will process your Order on the trading day to come. We will process your Order during regular market trading hours, but the actual time of processing your Order may vary from time to time. Unlike placing a limit order, you will not determine the price, the number of shares, or the precise moment of submission for your Order.
Your Contribution will only become unavailable to use shortly before we process your Order. You need to ensure the availability of your Contribution (in the relevant currency) when we process your Order. For clients with our margin facility, you agree to use margin financing for all your DAIP Orders when applicable, of which charges and interests may incur. But for an AIP, unless a client with our margin facility instructs us to use margin financing, we will not process any of the Orders of that AIP if it will incur a margin loan on that currency.
You may instruct us to amend, suspend, or terminate (collectively “Change”) a certain automated investment plan before its next processing cut-off point that we set out on our website or the Tiger Trade app. The processing cut-off point may change from time to time. A Change instruction received for a certain automated investment plan past a processing cut-off point will not be effective for an Order already scheduled to be processed.
Your Contributions are subject to withholding taxes, and fees or charges that we may impose from time to time.
The securities available to be purchased with an automated investment plan (“Eligible Securities”) are subject to change from time to time and shall be determined by us at our absolute discretion.
We may, without notice to you, aggregate your Order/Contribution with those of our own, or with those of persons connected with us, or with those of our other clients, subject to the maximum extent allowed by any applicable laws and regulations. Aggregation may on some occasions work to your disadvantage and on other occasions to your advantage. This may cause the executed price of your Order to not match our market data since it is the average price of an aggregated order.
A client can set up multiple AIPs, and also have multiple AIPs for a certain Eligible Security.
Each client can only set up one DAIP. Once you have set up your DAIP, it will automate reinvestment of all future net cash dividends received from all securities that are available for fractional share trading. A DAIP Order will be made to the security that a client received a cash dividend from on the day after it is received, but optional dividends’ cash dividends are excluded. The processing of a DAIP Order is also conditional upon the security being included within your DAIP before its processing cut-off point and your holding of that security at the time of processing. You may manually exclude from your DAIP securities that you hold.
Without prejudice to any other clauses, the following are some reasons that may deter us from processing an Order (not exhausting all possible situations):
(a) there is a trade restriction on your account;
(b) there is an existing margin call on your account or the Order may trigger a margin call for your account;
(c) the Contribution is insufficient to cover payment for the smallest unit/fraction of the security and its trading-related fees;
(d) the available funds in your account is insufficient for the Order;
(e) the relevant security lacks liquidity, is suspended for trading, has ceased to be publicly traded, or its exchange is closed/suspended;
(f) inclement weather, emergency situations, or other force majeure events.
We shall not be liable for any losses or any other consequences incurred thereof.
Notwithstanding anything to the contrary, we reserve the right to, at any time, without any notice or reason:
(a) impose maximum or minimum limits on each Contribution and amend such limits;
(b) refuse to process any Order;
(c) modify or discontinue, temporarily or permanently, this automated investment service; and/or
(d) suspend or terminate, temporarily or permanently, your automated investment plan.
In case of any disputes, we reserve the right to interpret the Terms. We may also change the Terms without prior notice, including but not limited to suspending, terminating, or changing any of its details.
The Terms are originally written in English and have been translated into Chinese. In the event of any conflict or discrepancy between the English and the Chinese versions, the English version shall prevail.