Delayed settlement and dividends - Aussie Stock Forums

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  1. #1

    Default Delayed settlement and dividends

    I started to use NABtrade but assumed it would work like my other brokers where if you buy and then sell the next day the T+3 settlement amount was offset. Well got a call from NAB and my trades havent been settling because they have been trying the full amount on T+3.
    I have been trading overnight on Ex div so does this mean I will also miss out on the dividend because I am not on the books? I checked the share registry and my holdings were never listed
    Its crazy with NAB if a trade hasn't settled the available balance for trading does not change so you would never know about it and you can place more trades no problem

  2. #2

    Default Re: Delayed settlement and dividends

    Quote Originally Posted by geeroy View Post
    I started to use NABtrade but assumed it would work like my other brokers ...
    You cannot rely on anything being the same at any broker!
    My broker wants the full amount in the trade account before it will accept a buy order.

    I would expect some conditions are enforced by legislation.
    These are the only things I would expect to be the same at differing brokers.

  3. #3

    Default Re: Delayed settlement and dividends

    yes well completely lost the dividend on 3 trades so an expensive lesson for me. wish i had at least some notification. once one trade didn't settle then the following trades didn't settle either even though there was enough funds to settle some.
    Was used to the simplicity of IB and will gladly go back to them after this free brokerage deal runs out.

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