Has anyone else experienced delays when attempting to Sell on this platform?
For the past two days since my order was placed, all I see is "Awaiting settlement” and there is no way to contact their customer service either. All it says as you submit something is we will get back to you and in the past 6 months since i opened this account I’ve never heard anything back from their customer service for any query that was raised.
I have sell orders of around 22K in this broker and it is now extremely concerning. If they are taking over T+2 days for their settlement and sometimes as per the community forums even much longer,it defeats the purpose of investing as we get almost instant settlement via any other broker. Am I getting this all wrong?
Hi @ashth
I believe I have picked this up from our helpdesk.
Firstly I would like to flag to you that upon closer inspection there looks to have been a slight typo as you entered your email address initially, which caused an issue with the emails sent via our helpdesk. This has since been rectified and you should also have received a response on your query today.
As your orders were only submitted yesterday, they are not expected to settle till tomorrow, as per the usual T+2 days execution process.
Kindly confirm if you have not seen our email response today and we will be happy to investigate further.
just placed an order to sell a portfolio which contains 5 x etf’s and 2 bonds inc a Gilt.
2 x etf’s are doing ok but the rest are not, all are standard funds in portfolio.
i expect them to be sold 27th so 2 or 3 days not inc wkend.
I got to say all my transactions of late have been super smooth, no delays whatsoever. This includes rebalances. I only use high liquidity ETFs so before anyone buys an ETF, it’s really worth studying their volumes on CNBC or Yahoo Finance. Ideally you want an ETF that’s got a 50k minimum average daily volume in my experience. A lot of these ETFs sound good on paper, but fund size and daily volume needs to be analysed. I also try not to buy funds smaller than a £ 1 billion.
all funds did sell on the next trading day but i still have 1 etf ‘awaiting settlement’ after 3 days which suprisingly is IGLT and the cash is not ready to collect because of this.
Hey Mark, thanks for following up on this. Your feedback is invaluable and is helping us fine-tune our service. I have forwarded your comments to the relevant team, who will be looking into the IGLT settlement. We hope to have this resolved as soon as possible.
Within my ETF ISA I have a persistant, well twice, ETF fund that takes much longer to settle than any other? It is iShares Euro Total Market Growth Large UCITS ETF with a ticker of IDJG. According to justETF.com it is 247M fund size? Looking through yahoo! finance the daily volume is more often than not, below the 50K daily volume minimal threshold as discussed by Gandolf earlier in this thread, but then so are most of the other ETFs I have in the ISA. But try as I might I cannot as yet find a tangible reason why this particular instrument seems to have a more consistant delayed awaiting settlement time comparatively compared to the others I hold? Then again I am not privy to the particular market maker or the market IE trades it on?
Hi! Thank you for bringing this to our attention.
We’re escalating it to the relevant team to investigate further and will provide updates as soon as we have more information. Your patience is appreciated.