Lately i have been experiencing the app is slow in loading or unable to load. Is this happening with anyone else?
Yes it has been quite slow lately.
Yep, for me too. Had to force close the app just after my trade executed as the UI became unresponsive
Yeah happened two days ago
Yea it has been slow both just loading up and opening the app, and also when trying to buy or sell stocks it gets stuck on the processing page for a long time a lot longer than usual. This is occurring with large stocks like Microsoft so I don’t think it’s a liquidity issue either. Would appreciate this being worked on as waiting a couple minutes for a buy or sell order to go through is a bit annoying.
Apparently the order execution is intact but the app has problems generating contract notes etc. and that is the cause of the delay.
Ahh I see, yea it’s been weird occasionally flashing up saying the order is queued (even thought it’s an instant order) but then it’s gone through when I refresh so it wasn’t in a queue. Probs just a bug I guess.
Happens for me every time I buy or sell. Get stuck ‘sending order’ and have to force stop the app.
Exactly the same with him, saying it was qued and would be under the port screen, then there wud be multiple orders, or orders I couldn’t cancel,
Tried the help chat, that was rubbish Allso.
Freetrade is really pushing its loyal customers with a app that feels like it was a A level project
Today I tried to buy ten times or so. Each time I got this error message on the screen
I complained and Ed from FT said “Sorry about this. When this happens, you do need to wait for it to update in-app I’m afraid. You can’t cancel as in most cases the order has executed and your app is loading with our systems to generate the position and contract note”.
??? Am I missing something here?? I checked my activity feed and all attempts had failed, no orders had been placed. I kept trying and trying and eventually it did go through (about an hour later) but, by that time, the price had moved and I made a loss. Now I am very wary about making any trades. Has anyone else had similar problems? Placing orders with FT seems like a hit-and-miss exercise where you have no control over what price you are going to get or that your trade will be executed at all. I know FT is cheap but I start to wonder whether it might be worth paying more for better service. Shame really as it seemed to have potential.
A similar situation happened to me last week in a day of abnormaly high trading volumes, which affected Freetrade’s service provider in the US. I didn’t place any order this afternoon, hence I don’t know if today’s volume was regular or higher than normal. Therefore it may or not be a similar situation
How do you define " abnormally high trading volume"?
According to yahoo finance, today’s trading volume was 265.5M, while the average daily trading volume for apple is 171.5M. On 49 out of 144 trading days since the 2nd of March 2020, the trading volume has been above average with a range of 46.89M - 401.69M.
So, should we expect FT to buckle under pressure 34% of the time?
I think it was last week when I got a similar message like the one you posted on your screenshot. It was after a bank holiday in the US, and the orders I placed were presented with a message similar to that one, but I don’t have a screenshot to share and compare. It was mentioned that the overall trading volume for the US markets in that day was higher than normal, which caused issues with Freetrade’s partner in the US, or the communication between both, I can’t really remember. I don’t know if today was similar, or if something else completely different caused your issue. In any case, I believe it should and will be investigated, diagnosed and sorted.
Edit: this thread explains the situation I’m referring to
Or you can jump to this post in the same thread:
Again, I don’t know if today was similar or not
Interesting. At least your order “executed at the time you placed it”. Mine was failing to go through for about an hour, which is more worrying as it means missing the boat on important deals. No explanation (other than Ed’s statement above) has been given so far either. I will wait for this to be sorted before I place another order as I do not fancy playing russian roulette with my hard-earned money.
As far as I can understand Freetrade is a startup with an ever evolving MVP. It improves partially thanks to feedback such as yours. I would rather not experience challenges of the sort, but even well established brokers find themselves with technical issues in extreme circumstances. Not that I’m thrilled about it or just accept it like if it were one of those things I just have to live with. But I do think Freetrade’s product is better today than it was 1 year ago, and I think that it will continue to improve in the future.
I understand and find it sensible if you’re experiencing losses with your trading in Freetrade’s investment platform
That’s a good point. In theory, FT is a brilliant idea and I would love to see more startups like it. I guess the crown (and largest market share) will go to whoever sorts their act out first and offer the best customer experience.
So long as we, as customers, continue to benefit from competition derived from the existence of multiple service providers, either incumbents or challengers. In order to diversify platform risk, and in the future, I hope for today my wallet is thin still, to also benefit from the 85K protection in each one. In principle, I don’t like monopolies. Not even the game