Why does OCBC BCIP take so long to purchase a stock?

OCBC BCIP will deduct the monthly amount on the 17th of each month. The purchase date is usually 22nd of the month, if markets are open. Updates to your account stock holdings will be a few days later.

No you cannot amend the purchase for this month, only for next month.

There are no charge for amendments to your BCIP, other than the transaction costs.

Could it be because they will only purchase on a certain day of the month regardless of when you put in the order. let say it is on 15th, and you place order on 16th, your order will be executed only on the 15th of the following month.

yes, i believe you can cancel as long as there is no buy in yet. even if it is bought in, you just have to sell off. don't think there are additional penalties.

hope this helps