When it comes to taking any potential profits or getting your money out of investments, we know it is an important time for you as an investor and you want it to happen as quickly and efficiently as possible.
Selling is a key part of an investor's journey and we want to make sure that it is really clear how you go about it on The Big Exchange and what is involved.
Our team give you the step-by-step below.
To create a sell order, you will need to go to your current investment portfolio to choose which investments you want to sell.
Once you are in your portfolio you will be able see all of the holdings that you currently own. These are the funds you have invested in. An example of what you might see is provided in the image below.
N.B. If you are doing this on mobile or on a smaller screen you may need to scroll right in order to select the Sell button.
You can click sell against any investment you wish to turn from an investment into cash. Currently you can only do this one investment fund at a time. You cannot sell your whole portfolio in one go (we are working on that!). When you click on Sell, you will be taken to the screen below.
You can either choose to sell the whole of that investment fund by selecting the tick box, or you can enter a specific amount. You cannot sell more than what you currently hold. If you have already have a sale trade placed in this fund and it is ongoing, we will not allow you to sell the same amount twice.
If you want to make multiple fund sales, you will need to go through each of your holdings one by one and repeat this process.
Once you have made your order, we will process it and it will usually take a couple of working days to complete. You will be able to see the instruction placed in your Transactions section of your account where the status of the trade will change as it goes through our process. As mentioned, this is not instantaneous.
The trade will move through different statuses: Authorised > Placed > Completed over a period of 2-3 working days. Once completed, the cash will need to settle on your account before it then becomes Available to withdraw in your Big Exchange Cash Balance.
Once your sell trade has completed or you have the required amount visible in Available to withdraw you can then request to Withdraw cash.
After entering an amount (there is no minimum!) and making the request, we will transfer the cash to your designated bank account listed in your profile section. This can take 3-5 working days to arrive in your bank account. There is no charge or fee to withdraw from your account.
And that's it. If you have any questions, the team will be on hand to answer them via this form or through your secure messaging portal.
Firstly, in order to withdraw cash from your Big Exchange account the money needs to be in available to withdraw. If your money is tied up in investments, you will need to create a sell order for the required amount of investments that you wish to cash in.
In the example above you can see that from the £140 cash the customer has, only £40 is available to withdraw. This could be because there is £100 currently being traded from cash to investments, or £100 waiting to settle.
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Investing is not guaranteed to make you money. Your capital is at risk.