How long until fund appears in my account?

Blackavar
Blackavar Posts: 208 Forumite
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in Savings & investments
Hi. I opened a S&S ISA last year and during the past few years have been learning as much as I can about investing and use this forum along with the recommended sites to educate myself. This ISA is also a training ground for me prior opening a SIPP in a couple of years with a much larger amount when my pensions finish.
I am currently using IWeb as the platform although will open another with another provider next year.
I appreciate that this is a cheap and cheerful platform but wondered how long is the norm between placing an order to the funds appearing in my account. It seems to take about 4 days which means that I Am buying at an unknown price and I am not invested as quickly as I would like. Are the platforms with higher charges quicker on this as I would be happy to pay more for a better service.
Thanks for any input.

Comments

  • IanManc
    IanManc Posts: 2,083 Forumite
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    Blackavar wrote: »
    Hi. I opened a S&S ISA last year and during the past few years have been learning as much as I can about investing and use this forum along with the recommended sites to educate myself. This ISA is also a training ground for me prior opening a SIPP in a couple of years with a much larger amount when my pensions finish.
    I am currently using IWeb as the platform although will open another with another provider next year.
    I appreciate that this is a cheap and cheerful platform but wondered how long is the norm between placing an order to the funds appearing in my account. It seems to take about 4 days which means that I Am buying at an unknown price and I am not invested as quickly as I would like. Are the platforms with higher charges quicker on this as I would be happy to pay more for a better service.
    Thanks for any input.

    All fund purchases - and sales - are at "an unknown price". You get the price when the deal is executed, sale or buy.

    Click on "Dealing" on the right hand side menu.

    Then click on "Pending Deals" on the right hand side menu.

    Then you will see the current status of the trade you have placed. :)
  • System
    System Posts: 178,093 Community Admin
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    If you want to know the price that you are paying when you buy then you could use exchange traded funds (ETF) or investment trusts (IT). It has always amazed me that people buy funds without knowing the price that they are paying!
  • badger09
    badger09 Posts: 11,205 Forumite
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    In my experience, IWeb are not slower than those with higher charges, eg Hargreaves Lansdown.

    I use both;)
  • lpgm
    lpgm Posts: 355 Forumite
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    Blackavar wrote: »
    ...wondered how long is the norm between placing an order to the funds appearing in my account. It seems to take about 4 days

    If you're buying a fund that the fund manager prices at noon, and you give IWeb your order by 11:15, then you should see the fund in your account the next day, around 9am. If not, it'll be later.
  • frugalmacdugal
    frugalmacdugal Posts: 10,077 Forumite
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    Hi,


    fund buy/sell prices are dealt at noon.


    Not like selling a share, where you get an instant price.
  • lpgm
    lpgm Posts: 355 Forumite
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    frugalmacdugal wrote: »
    fund buy/sell prices are dealt at noon

    Not all of them. But yes, it's once a day.
  • frugalmacdugal
    frugalmacdugal Posts: 10,077 Forumite
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    edited 20 July 2018 at 4:23PM
    Hi


    Unit Trusts and Oeics are dealt at noon, may be, that Investment Trusts are different.
  • lpgm
    lpgm Posts: 355 Forumite
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    Some Vanguard funds are priced at 9pm. Like this one: http://www.hl.co.uk/funds/fund-discounts,-prices--and--factsheets/search-results/v/vanguard-ftse-developed-world-ex-uk-equity-index-accumulation. In which case, the OP might not see the fund in their account the next day.
  • ColdIron
    ColdIron Posts: 9,038 Forumite
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    frugalmacdugal wrote: »
    Unit Trusts and Oeics are dealt at noon
    Most are but many are not. obvious examples are Vanguard's Lifestrategy at 9:00 and Lindsell Train UK equity at 10:00
    may be, that Investment Trusts are different.
    Shares are traded on an exchange so are priced at the point you buy or sell
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