1. Invest Max Amount
– Currently, if I have $50.50 cash available, my purchase has to be $50.49 or below rather than the full available amount. We should be allowed to enter the same amount as available funds, or have the option to click ‘Max’, which automatically inputs the max amount.
2. Auto Re-Invest on Sale
– There should be an option to (per fund? probably account-wide) to re-invest the money that’s made available when there’s a sell-off due to the fund’s sharia compliance changing. The money should be re-invested into the same fund. If I have multiple funds, I do not want to mix the money or try to figure out how much money needs to be re-invested into which fund.
– There could be an extra option to separate the re-investing of any dividends coming from the funds. Probably could be bundled together though.
Not sure if my suggestion goes here but anyways!.
Agree with Br Atif.
One suggestion is to display available/remaining balance to invest.
That’s actually a requirement we introduced after Alpaca reached out to us asking about accounts that negative balances. This was because there are SEC/FINRA fees on the order of ~$0.01 in most cases.
You can see an example of this in my current dashboard:
The solution was to limit the “MAX” amount to $0.01 less than the total amount of cash available. We’ll be explaining all this in the new app
100%. I’m adding this in the new version of the platform we’re releasing soon: the ability to re-invest cash balances accrued in a fund within the same fund. This would apply to cash made available the selling off of assets, as well as to dividends.
I’m thinking it’d make sense to have this as just a single option, so it’s easier to manage.
Would it be better to show the balance as $0.01 less and explain the reasoning as you suggested? That way I can invest the max amount I see instead of having to do $0.01 less than max and if there’s a max button, it’ll input the balance that the user see (which is $0.01 less than actual balance). Or if showing $0.01 less in the balance is not an option, the max button can automatically input balance - $0.01 into the amount field.
Yes, a single option would work. I wouldn’t think people would do much with the dividends anyways.
Btw, is there an eta for the new app? And will it be available to all users at once or select users initially?
Just added the Progress Tracker now … Don’t have a fixed date, but you can see exactly what’s been done and what’s pending. I guess we’d be set by month end, but that could get pushed back if there are complications (as there likely will be!).
You’ll all have early access, as soon as it’s ready.
Yes, this is what I had in mind too. Keep the balance as $0.01 but explain why it’s not allocating the full balance to this investment.