How do I buy ETFs online?
Log in to Davy Select and go to the Trading section
If you have any problems logging into the site, please read How do I log in .
When you click on the trading tab, the Trade Shares page is displayed. Click on Trade ETFs in the navigation to open the Trade ETFs page.
Check that the Trade Type is set to "Buy"
To buy an ETF that you already hold units in
The ETFs that you currently hold are listed on the right hand side of the trading screen. To trade an ETF that you currently hold, double click on the name in this list. This will enter the name into the ETF Name field, and you can proceed to choosing the type of order you wish to place.
Find the ETFs that you want to buy
To buy an ETF do not currently hold:
- Enter the ETF name into the ETF Name field on the form
- A list of matching ETF names will be displayed
- Select the ETF that you want to buy from the list
If you cannot find the ETFs in the drop down list, use the Advanced Search
The Advanced Search (provided by Morningstar™) allows you to filter ETFs by their Exchange, Sector, Industry, Name, ISIN or Ticker. For more information on using the Advanced Search please consult the ETFs Tools and Reports Guide.
If you can't find the ETF that you want to buy using our online search facility, please telephone the Davy Select Dealing Desk at 1890 303030 and ask us to add the ETF. Once we add the ETF to our list of ETFs, you will be able to trade it online. However, if you place an order with the Dealing Desk by phone, you will be charged the higher commission for telephone trading (more information on charges ).
Once you have selected your ETF, the Indicative Price and the Currency are displayed
The indicative price is an initial estimate of the price based on the last recorded trading price of the ETF. This is provided for information purposes only, as the reporting of market prices is delayed by 20 minutes. This price is not guaranteed, and the quote that you receive for the ETF will probably differ from the indicative price.
The currency that the ETF is traded in is displayed beside the Indicative Price, and beside the price that you will set for the trade.
You must place a limit order to buy an ETF
A limit order means that when you place an order, you set the highest price that you are willing to pay for the ETF at this time. You must set a time limit on the order, know as the duration .
Your duration choices are:
To place a limit order:
- Enter the highest price you are willing to pay for the ETF at this time
- Enter the number of units that you would like to buy
- Choose your duration
- Choose your settlement currency
- Click Calculator to see a breakdown of the charges on the trade
The currency that you wish to pay in. If you hold sufficient cash in that currency with Davy Select, you may prefer to pay for it in this currency, so that no currency transactions are required.
If you do not hold cash in this currency or if you have insufficient cash in this currency, Davy Select will automatically undertake a currency deal on your behalf to fund the transaction from the currency in which your cash is held.
Using the Calculator allows you to see how much each trade will cost or recoup for you. It gives you a breakdown of the charges on the trade in both the settlement currency and the transaction currency. The settlement currency figures are an estimate, as a currency deal may be required.
If you are happy to proceed with the trade, click on Preview Order to review the details of your order before placing it on the market.
On the Preview Order page you can review the details of your order.
- If you are happy with the order and want to proceed, click Place Order
- If you would like to change the details of your order, click Edit Order to return to the Trade Shares screen and change your order
- If you have changed your mind and do not want to complete the trade, click Cancel Order
Order on the market
Once your order has been placed, you will receive a confirmation message onscreen:
The details of the order are displayed on the screen. You can choose to check the status of your order by click on View Order Status. This will bring you to the Open Orders page, where all your current open orders are displayed.
Open orders are those currently working in the market and which have yet to be dealt in the market. Open orders can be valid for up to 14 days inclusive of weekends. Open orders include those partially executed where the order is partially dealt but not completely executed, or the order can be partially executed but where the remainder of the order is pending cancellation.
Open orders also include frozen and rejected orders. Frozen orders are orders that have encountered a problem at the exchange, and you will need to contact the Davy Select Dealing Desk on 1890 303030. A rejected order is one where the market has not been able to execute the order at a price equal to or better than the limit that you set.
You may request cancellation of unexecuted and partially executed orders and we will try to act on your request. However, we cannot guarantee that you will be able to cancel any order, as it can depend on the status of the order in the market.
Confirmation of Trade
When your order has been successfully executed, a confirmation email will be sent to the address registered to your account. These emails are also saved in your Davy Select Inbox.Source: www.davyselect.ie