Weekly Orders For More Efficient DCA Averages

First and foremost, i love your platform and its automations. Is it possible for the InvestEngine development team to offer weekly orders as opposed to monthly, to obtain a better overall average price?

This would be very beneficial for volitile commodities like GOLD. Right now I pay in monthly and have Autoinvest switched on so my DCA rate is 12 orders per year as opposed to 52/48 a year with weekly purchasing.

Programming wise could this be done? In my mind a program could be written to divide the regular savings amount coming into the portfolio by 4, purchase 4 equal amounts 7,14,21,28 days apart and then have the code cycle reset everytime new money enters the protfolio. Just thinking out loud on how this could function.

I think the question would be if you can split your monthly payment into 4 equal parts.

If you set up a Savings Plan IE offers 3 frequencies - weekly, fortnightly and monthly.

Autoinvest is automatically switched on for Savings Plans. No changes to programming required by IE.

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Hi Martin, thanks for getting in touch. You may set up a weekly Savings plan if your bank supports Variable Recurring Payments, please see our FAQ How do I set up the Savings Plan feature? for more information