Buy limit

#1

I transferred £10k into my ISA and tried to invest the lot in an ETF. It wouldn’t let me and when I tried to enter the final zero it defaulted to (I think) £9900. Obviously then the buy went through as the multiple of shares below that. Is £10k some kind of no-no for a single trade?

1 Like

#2

It is meant to be 9,999 according to how much can I invest at once? but it seems to be capping it to 9,900 at the moment.

However you can do multiple trade orders at once, so you can schedule two for 5,000 for the next Basic trade cycle for example.

4 Likes

#3

Okay, great. Thanks for that

0 Likes

(Vladislav Kozub) #4

Just to explain why this is the case I will quote MSE:

Stamp duty: When purchasing UK shares expect to pay 0.5% stamp duty and an extra £1 on transactions above £10,000.

This is simply to avoid the £1 tax and, possibly, unnecessary operations required to administer that.


Edit: I understand the query is regarding an ETF (SDRT exempt) but can only assume that it is operationally easier for Freetrade to block everything from executing if it exceeds £10,000

4 Likes