Investing and growing money for child's future

crashdesk

Not very clear to be honest as it stated cash available and allowed me to put in buy order which will now not execute until Monday. I have used other platforms for buying stock/shares and money transfer is immediate and buy is immediate. Not the greatest of starts TBH.

InvesterJones

If you're talking about VLS80 then no platform would allow immediate buying. For one it's an OEIC, which has an order time cut off and then the buy happens at the next dealing point, which for Vanguard is either extremely late in the day or even next working day if I remember correctly. If you miss the cut off time then you're talking + two working days from the order point. On Fidelity you can view the dealing times in the help pages.

In the scheme of long term investments for a childs future, a few days will make no significant difference, and in the current falling market, might even be more profitable.

dunstonh

 I have used other platforms for buying stock/shares and money transfer is immediate and buy is immediate. Not the greatest of starts TBH.

Individual shares and ETFs trade intra‑day on an exchange, so you see a price and trade at it (subject to spread and market movement). In contrast, OEICs and unit trusts only set one price each business day, and your order is processed at that price.

Shares also have settlement periods. I remember when that was closer to a week.

Albermarle

https://forums.moneysavingexpert.com/discussion/comment/81940299#Comment_81940299

If you buy shares with Fidelity, then the buy is executed immediately, if the market is open of course.

However VLS80 is not a share, it is an OEIC ( used to be called unit trusts) . A different animal.

crashdesk

Thanks all.

As you say, it will not make a huge difference in the scale of things. Just as a newb to the platform, the onboarding and details didn’t provide all the necessary information. I am sure it will all become second nature soon. :-)

InvesterJones

https://forums.moneysavingexpert.com/discussion/comment/81940838#Comment_81940838

Platform onboarding should really be about how to use the platform, not investing basics, however Fidelity do have an 'investing for beginners' onboarding pathway which fully explains the difference between funds, ETFs, shares and investment trusts: https://www.fidelity.co.uk/investing-for-beginners/

You can find the cut off times here: https://www.fidelity.co.uk/legal/before-you-invest/