1 Opening a securities account: If an investor wants to buy an on-site fund, he/she needs to open a trading account in the securities market in advance, select a securities company, download its official APP, click Enter, fill in his/her personal information, complete the registration, and follow the prompts to open an account. With this account, we can buy both funds and stocks.

2 Buy a fund: Then we choose the fund we want to buy and search for the name or code of the fund to buy. Enter the buying and selling page, enter the buying and selling price and quantity, and click the clinch a deal button to entrust successfully.

On the floor is the stock market, also known as the secondary market. Off-exchange market is understood as the stock exchange market, that is, the agency sales of banks and securities companies, and the direct sales of fund companies, that is, the familiar open-end fund sales channels.

Closed-end funds and ETF funds can only be purchased in the market (for large investors, ETFs can be purchased in the "primary" market), that is, they can only be purchased in the stock market. Other open-end funds can be purchased off-site, which is a well-known way, in which LOF funds can be purchased on-site.

When a securities company opens a Shanghai and Shenzhen shareholder account, it can conduct on-the-spot transactions between the listed open-end fund LOF and ETF funds in the business department or website of the securities company (if you have bought stocks or closed-end funds before, you don't need to re-open the existing account, you can use the original account).

The floor trading price is real-time, that is, the price you bought at that time is the same as the price of stock trading.

Just like off-site subscription, on-site subscription (subscription) can also get dividends, but there is one difference. The fund dividends purchased on the market can only be cash dividends, and cannot be reinvested. Those purchased off-site can be reinvested. Funds that can be redeemed and purchased on the spot can also be redeemed on the spot. The redemption price is the net value announced by the company on the day after the market closes. Buying (stock method) is different from buying (fund method), and selling is different from redemption.

Because there are trading, subscription and redemption mechanisms in the secondary market at the same time, holding these two types of funds can not only wait for the net value to rise to realize income, but also carry out arbitrage trading when there is a difference between the transaction price in the secondary market and the net value of fund shares. This also makes the price of such funds traded in the secondary market will not be discounted like closed-end funds.

However, if investors want to sell the purchased fund shares at the designated outlets of the exchange, they must go through certain transfer custody procedures; Or conversely, the general arbitrage mode from Dallas to the audience is that when the net value of the fund is higher than the transaction price in the secondary market, it is bought in the secondary market and redeemed in the primary market, thus making a profit; When the net value is lower than the transaction price in the secondary market, you can buy in the primary market and sell in the secondary market.