Once your order is executed, submitted to our brokers, it will be marked as 'Awaiting settlement' on the 'Transactions' tab in your online account. Your trades will typically settle two days after execution (‘T+2’), although in some rare cases it can take longer. When a trade settles, this status changes to ‘Done’.
You are considered the owner of the security from the point a purchase order is executed. You will be entitled to receive dividends even if the ex-dividend day falls during the settlement period.
You can still actively use your account while you have trades 'Awaiting settlement'. For both Managed and DIY portfolios you can withdraw cash:
Portfolio> 'Options'> Withdraw Cash
In DIY portfolios you can trade other ETFs and sell the portion of the ETF that is not a part of the unsettled order. You can also buy more of the same ETF that is 'Awaiting settlement'.
The unsettled trades are not included in the calculations for a Sell Portfolio order.
For Sell orders- you need to wait for these trades to settle before withdrawing the value as cash. You can, however reinvest upto 95% of the sell order value into new shares right away.
The are only two restrictions while you are waiting for a trade to settle; you can not use the rebalance feature in your portfolio and you can not sell the portion of the ETF that is 'Awaiting settlement'.