Last week I did a top up and my deposit became unsettled immediately, so I decided to send an email to the FT team asking for help and as you can see in the email below, my deposit became unsettled due to a buy order
I always thought my funds could become unsettled due only to a sales order, but not a buy order. And I didn’t know a deposit could be held either. I confess I was quite surprised.
Has anyone had their deposit withheld due to a newly executed order?
Didn’t know that so that is quite a nice thing to be aware of in case that potentially happens in the future.
Although this doesn’t stop anyone from buying any stock with the deposit it’s cool to be aware of this, and maybe the FT team has already written something broader about it in an article, but what I’ve found of them doesn’t explain anything about the deposit getting held due to an order executed
Therefore, I kindly suggest that they update this article to let their customers know.
I think it’s also worth mentioning that FT is unable to transfer your US shares to another broker in case you decide to leave them in the future for any reason. The FT member kindly explained this to me in the same e-mail and it was something I didn’t know. And maybe neither do you.