If you wish to withdraw some of the funds you have invested in your SatrixNOW account OR alternatively make a change to the instruments that you hold in your portfolio, you will need to make a sale of an instrument / instruments you hold, which you can do by following one of the two (2) simple methods explained below.
Method 1 - Selling holdings from the 'Sell' page
- Login to your SatrixNOW Account.
- Ensure that you have selected the correct account (Investment / TFSA) in which you hold the instruments you wish to sell.
- Click on the stack menu (3 little horizontal lines) to the left of the SatrixNOW logo - as shown by the arrow in the image below. You will ONLY be able to see this menu option if you are logged in to the site
- Once the menu structure opens up, click on the "Sell" option, under the 'My Investments' group.
- You will arrive on the "Sell Holdings" page which will display all the instruments that you currently hold in your Investment portfolio. Click on the "SELL" button at the bottom of the square of the instrument you wish to sell (see image below).
- Completing the previous action will bring you to a new 'confirm your sale' page. On this page, you will be presented with the current value of that instrument, together with:
- An "Amount to Sell" cell allowing you to input the value of the instrument you want to sell, and
- A "Percentage to Sell" cell allowing you to input the percentage of the total holding of the instrument you want to sell
PLEASE NOTE: Sometimes the Amount and Percentage you can sell of a particular instrument may be limited to an amount / percentage that is less than you want to sell. Please reference this FAQ article - Why can I not sell my entire holding - for an explanation.
- The "Amount to sell" field will automatically be populated with the value of the chosen instrument you are able to sell at that time and the "Percentage to sell" field will be populated with 100%. Should you wish to sell a different value OR a different percentage to those displayed, you can manually adjust the amount by simply clicking into the respective cell and inputting the desired value.
- Once you have entered the desired value or percentage to sell, we highly recommend that you review all of the Sell details (including the "Investment costs" associated with the sale which can be expanded by clicking on the little right-facing arrow to the far right of the row (ie. this symbol > )) before clicking on the 'Sell Now' button below.
- Following the submission of your Sell instruction, you will arrive at a 'sell successful' screen, confirming all the details of your successful trade.
- You will also receive an email confirming all the details of your sell order.
Method 2 - Selling holdings via the cog icon of the instrument you wish to sell
- When viewing the various instruments in your portfolio on the Account Overview screen, you should notice a little red cog icon in the top right-hand corner of each instrument - as shown by the arrow in the image below
- Clicking on that icon will open up a menu structure allowing you to do / view a variety of things with that instrument - per image below
- Click on the "Sell" option in that menu.
- This will take you to the "Confirm your sale" page, where the rest of the sale process is exactly the same as from point 6 in Method 1 above.
- Funds from the sale of an instrument on the platform are not immediately available for you to withdraw to your bank account. Settlement of funds from a sale are only available to withdraw after 5 working (business) days.
- You can however invest those funds immediately in other instruments / products on the platform.
- If you are making a sale in order to withdraw funds from your Tax Free Savings Account, please ensure you understand how this will impact your annual and lifetime limits, by consulting the information under the withdrawals header in this FAQ article available HERE