iWeb

tel_

nothing_to_fear said:

you first put in a sell order (for which you have to specify the number of units to sell, not the amount in £ you want from the sale). Only after that can you place a buy order (for which you have to specify the amount in £ to invest, not the number of units to buy).

I'm guessing iWeb's reasoning for only allowing you to sell units instead of selling in £ is because your units won't change, whereas their value will change. Is this correct?

I've been using Vanguard for so long, and only dealing in £. I guess it takes a little time to get accustom to a different (and older looking interface).

masonic

tel_ said:

nothing_to_fear said:

you first put in a sell order (for which you have to specify the number of units to sell, not the amount in £ you want from the sale). Only after that can you place a buy order (for which you have to specify the amount in £ to invest, not the number of units to buy).

I'm guessing iWeb's reasoning for only allowing you to sell units instead of selling in £ is because your units won't change, whereas their value will change. Is this correct?

I've been using Vanguard for so long, and only dealing in £. I guess it takes a little time to get accustom to a different (and older looking interface).

This only applies to funds, which are only priced once a day, after the cut off time for placing orders. So if selling it would not be possible for them to know how many units to sell to achieve a given amount of proceeds in £. For ETFs, investment trusts and shares, you have the option to specify either the price in £ or the number of shares as they can dynamically determine the other at the time the order is put onto the market.

ColdIron

tel_ said:

I'm guessing iWeb's reasoning for only allowing you to sell units instead of selling in £ is because your units won't change, whereas their value will change. Is this correct?

Basically yes for funds, for the reason you state. Some sites such as HL will allow you to sell for £s as long as the sales amount is less than 90% of your total holding, presumably because a gain of 11% until the next valuation point is unlikely. Other sites will have their own policy. Iweb only accept units

csgohan4

tel_ said:

nothing_to_fear said:

you first put in a sell order (for which you have to specify the number of units to sell, not the amount in £ you want from the sale). Only after that can you place a buy order (for which you have to specify the amount in £ to invest, not the number of units to buy).

I'm guessing iWeb's reasoning for only allowing you to sell units instead of selling in £ is because your units won't change, whereas their value will change. Is this correct?

I've been using Vanguard for so long, and only dealing in £. I guess it takes a little time to get accustom to a different (and older looking interface).

Necroposting, Last post was Oct 20