How long should online trades take to execute?

[SueEllen]

Cheers all.

This is for a S&S ISA and I'm buying (UK domiciled) funds. So it's not day trading.

I asked on the online chat thing last night and they said something along the lines of "It takes 2 working days from reaching the limit price to when it shows on your account.."

Are they bulltuliping me, like someone mentioned I wouldn't be surprised if there's some sort of delay going on if prices are falling so someone can make a bit of profit by timing, but it's all obscured on the website. Basically you get current price, buy, sell and that's it.

With HL most funds take 24 hours or 1 working day. Then I do have a habit of putting trades on late evening.

Oh and for a lot of the providers there are some funds you can either put in a pension or an ISA.

[BlasterBates]

This would be normal for funds which are traded only by the company managed by the fund. The price is fixed on a daily basis and is not an auction. In other words you have bought at the price quoted on that day. That will appear on your account when the fund company has processed your order.

Exchange traded funds are traded like shares and transactions are executed in real time.

[ContractorBanking]

Mine go on the order book in real time. I assume you deal with shares infrequently. If not, get yourself a proper share dealing service - it'll be cheaper as well.

Which broker are you using for DMA access and which markets are covered?

[Jog On]

With HL most funds take 24 hours or 1 working day. Then I do have a habit of putting trades on late evening.

Oh and for a lot of the providers there are some funds you can either put in a pension or an ISA.

WSES. Funds can take up to a few days sometimes. I've waited 3-4 days sometimes for funds in my ISA/SIPP.

Shares and ETFs should be real time unless you trade during a big news announcement or immediate aftermath of one.

[GJABS]

Mine go on the order book in real time.

Ah, the order book, to allow us the retail punter to act as marketmakers.

Can be dangerous though. On Monday just gone, I placed a sell limit-order onto the order book to sell a load of shares , but I put the price down in pounds when it should have been in pence. It traded immediately.
Just as well there was a healthy market in this particular stock and a well populated order book - had there not been, I could have lost up to £100K

A lesson learned..