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I set aside 500SGD a month to invest in VOO ETF. However the IBKR account I am using is not allowed to invest in fractional shares. If I buy 1 share of VOO per month, is it effectively same as dollar cost averaging?
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There are two ways to DCA, either by price or by units. By buying 1 share of VOO monthly, you are averaging out the bought price over time. So yes, it is DCA method.
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Fixed Dollar Amount. Not fixed share amount.