Monex to Offer US Stock Periodic Purchase Services

Japanese online trading company Monex Inc, a subsidiary of Monex Group, Inc. (TYO:8698), announces that it will expand its US stock services and begin offering US stock periodic purchase (dividend reinvestments and monthly purchase).

Along with the US-based Monex Group company TradeStation Group, Inc, Monex has long offered US stock trading services. In response to high demand from customers, Monex will now also provide US stock subscription services.

Monex will offer two types of subscription services, a dividend reinvestment service and a date designated service. All US stocks (EFTs and approximately 4,100 different stock symbols) will be eligible for these services that are available for trading at Monex. Customers can use this periodic purchase for either their NISA account or their regular brokerage account.

• Dividend reinvestment service

Dividends from owned US stocks and ETFs, which are usually paid four times a year, are automatically reinvested in the shares of the same company. Because dividends are automatically reinvested, customers can enjoy a compound interest effect without cumbersome application procedures.

• Date designated purchase service (monthly purchase)

With this service, a set amount is used to purchase shares of a specified company on a customer-designated day each month. This service enables customers to employ the dollar-cost averaging strategy. Customers can also increase their set investment amount for the months they receive a bonus.

Monex is set to launch this service in the first half of June 2021.

Stay tuned for more broker updates!