When you are selling an ETF using a single-stock order, almost all of the proceeds can be reinvested as soon as you place that sell order — you don’t need to wait for it to execute.
We allow you to reinvest 95% of the expected proceeds in the same trading window in which your sell order executes. You can use the 95% to buy one or more ETFs via single-stock orders (only). Such buy orders must be placed in time for the daily window opening (2 pm.)
The remaining 5% of the sale proceeds are available after the trading window.
However, the position is different if your sell order is a Sell Portfolio (rather than a single-stock order). A Sell Portfolio order needs to execute first before its proceeds can then be reinvested in the following day’s trading window.
With all sell orders, you can only withdraw the proceeds to your bank after the sell trades have settled. Cash withdrawals can take up to two business days to complete and full portfolio withdrawals can take up to 5 business days to complete.