Allow Limit (or Triggered) Orders on "Coming Soon" IPO Stocks

Freetrade Plus members can set Limit or Triggered orders for buying shares.

It would be useful to be able to create a limit order for the “Coming soon” stocks (i.e. Airbnb) in advance of its availability on the market, so that an order can be filled (at the current market price) as soon as possible without having to watch the app for the notification that the share has become available.

This would be fantastic! Would be another way to market plus too.

Do you have clue how much a share cost atm coz I heard is going up more than $68 also can you hold share for a year if It is on ipo???

You can hold as long as you like, but its currently over $150 a share on Google.

why can’t i buy the ABNB - trading started already.

You can now.

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Can I hold the share on this app free trade as long as I want or I have to buy share from somewhere else?

Yes you can buy it on FT and hold it for as long as you want on FT

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I’m aware that we as smaller retail investors don’t get shares in IPOs at the issue price and we generally don’t get them at market open on the day they go live. That’s just the way it is. Freetrade and its users know when IPOs are coming, though. My suggestion is that we be allowed to put a limit order in place before a new IPO stock officially hits Freetrade and for it to then go into action when the shares are available to buy. This means that we as users could set things up and make sure funds are in the account and allocated in advance.

For example, company XYZ is due to go live in a week. Freetrade announces this and creates a faux listing, making it clear that this is not yet live. Users can place limit orders and reserve funds. When it becomes available via Freetrade, the limit order becomes active and will execute if market conditions allow. I think :freetrade: have done this previously, but only on a few occasions. I’d like for it to be a common occurrence with all IPOs that they intend to offer, big and small. This might also cut down on the forum posts of “will you have XYZ?!” days before an IPO is due to go live.

Tl;dr: create IPO listings before they’re live as a common thing. Allow us to place limit orders and reserve funds for when the listings go live.

I don’t know if this is technically possible.

Apologies if something similar has previously been suggested.

Wouldn’t you want to see the share price go down first though as they normally rocket upon market open and i wouldn’t pay those prices, bit like BMBL it needs to settle down to a decent level after open. They do need to be on FT quick though once they hit the market.

It’s the same with SPAC’s, i know which one’s are likely to merge and lots of folks are talking about them but by the time they hit FT it’s often too late to get in at NAV

I didn’t say anything about wanting to invest on day one and this isn’t about day one pricing. That’s irrelevant, as a limit order is valid for up to 90 days. I simply want the ability to set the limit order in advance of the company’s IPO happening so I don’t have to remember to do it later.

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Limit orders aren’t internal, they’re sent to the market when you set them. They can’t send them for securities that aren’t available yet.

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