We recently launched the beta version of mutual funds. It is available to customers on a Plus plan.
You can buy and sell funds on Freetrade via the app or web platform.
Go to the Discover screen on Freetrade’s web platform and choose the fund you want to buy or sell. The “current price” you see is the price the units were last traded at (remember, this happens once per day). Choose to buy a specific number of units, or invest a specified amount.
Once you place your order, it will be queued until the designated “trade cut-off” time. The cut-off time is dynamic, and can vary between funds. The cut-off time is displayed on the fund’s instrument screen.
After the cut-off time, your order will be sent to the fund manager who will calculate the fund’s price.
Once the trade is complete, you will receive confirmation of the price and number of units purchased, and your portfolio will update accordingly. This may not happen immediately after the cut-off time, and in some cases may take several days for the fund manager to confirm your transaction.