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Interactive Investor trading and settlement
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Trev DIYer
Posted: 18 February 2025 14:03:22(UTC)
#7

Joined: 04/06/2017(UTC)
Posts: 121
MarkSp;334884 wrote:
Peter61;334882 wrote:
Anthony French;334874 wrote:


AJ Bell, u can hold gilts and deal ETF proceeds as soon as you have sold.
AJ Bell better for smaller holders (%) where ii only better if you have substantial sums invested. (flat rate)


AJ Bell are low cost for holding ITs and ETFs. Their fund charges (0.25%) are cheaper than many competitors, but more than ii, if you have a significant holding. They are open to negotiating limits on fund charges and seem to turn around funds pretty quickly.

Pete


I have 7 figures with them at £10/pcm. Looks like a bargain to me
Funds seem pretty quick.to me except those in Ireland or luxembourg which take an extra day in my experience


Ditto

There are no such problems with AJB or iWeb - I'd switch - don't like being out of the market.
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JohnW
Posted: 18 February 2025 14:21:50(UTC)
#12

Joined: 14/01/2012(UTC)
Posts: 582
This is very interesting! I hold my portfolio on II. I recently sold some IT shares on there and immediately brought shares in a different IT and had no difficulties. So are shares handled differently?
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Elspeth Beaton
Posted: 18 February 2025 17:09:11(UTC)
#13

Joined: 11/12/2019(UTC)
Posts: 227
Re “being out of the market” -I think on further consideration this is probably not such a problem as I had recently intimated-the actual trade is usually done within a day or so but the machinations of the platform appear draw out the process as the trade is added to or withdrawn from one’s portfolio
I stand to be corrected on this
xxd09
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Thrugelmir
Posted: 18 February 2025 18:06:06(UTC)
#14

Joined: 01/06/2012(UTC)
Posts: 5,317
JayW;334863 wrote:
I find with Interactive Investor when I sell an ETF I am unable to reinvest the proceeds until the settlement date.


Have you asked them why? Presumably it's because your account doesn't have cleared funds. The platform would therefore be using someone elses money to fund your purchase.
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JayW
Posted: 18 February 2025 18:29:07(UTC)
#15

Joined: 25/08/2019(UTC)
Posts: 358
Thrugelmir;334928 wrote:
JayW;334863 wrote:
I find with Interactive Investor when I sell an ETF I am unable to reinvest the proceeds until the settlement date.


Have you asked them why? Presumably it's because your account doesn't have cleared funds. The platform would therefore be using someone elses money to fund your purchase.


That's correct. This is what bargain basement provider iWeb say in their terms and conditions:

"If you make a sale we will credit your account on the settlement date shown on your contract note. For your convenience sales proceeds from sales can be reinvested straight away."

I haven’t bothered asking them yet because my previous experiences communicating with them have been somewhat frustrating.
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Jesse M
Posted: 18 February 2025 21:54:20(UTC)
#16

Joined: 30/12/2020(UTC)
Posts: 1,471

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Was thanked: 3794 time(s) in 1126 post(s)
JayW;334930 wrote:
Thrugelmir;334928 wrote:
JayW;334863 wrote:
I find with Interactive Investor when I sell an ETF I am unable to reinvest the proceeds until the settlement date.


Have you asked them why? Presumably it's because your account doesn't have cleared funds. The platform would therefore be using someone elses money to fund your purchase.


That's correct. This is what bargain basement provider iWeb say in their terms and conditions:

"If you make a sale we will credit your account on the settlement date shown on your contract note. For your convenience sales proceeds from sales can be reinvested straight away."

I haven’t bothered asking them yet because my previous experiences communicating with them have been somewhat frustrating.



Never had that problem with ii, have been able to reinvest proceeds within 20secs to 1 min. Sold 100k today of ETF and reinvested immediately. Not sure why you have this problem maybe your sums are much larger than mine.

Edit: or your etfs are more obscure or much smaller AUM. I only trade large ETFs like SSAC, XDEM, XDEQ etc.
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1 user thanked Jesse M for this post.
S Dobbo on 19/02/2025(UTC)
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