Hi,
FREETRADE, what’s going on???
No execution on orders - stop losses, limit orders, you name it… and people can lose thousands!!!
I’m a Plus Member and yesterday I’ve had a Buy Limit Order for a stock at £1.35. The stock went down to £1.33 and nothing… ! No executions!!
Same for another stock, Stop Loss not triggered at all … luckily the price bounced back & got the profit… otherwise I could have lost thousands ££££!
Has anybody else experienced this, too?
what stock?
Argo Blockchain.
The Stop Loss failure was for GameStop, so that it would have been an epic loss …
It went to 133 briefly, but was that a buy price?
Spread. It may have gone down to 133 but the ask price was probably higher than 135. Spread for stocks like ARB can be high.
As an example, the share IBPO which I had a buy limit on didn’t execute because of the insane spread of nearly 5%.
The triggers will only be met if there is someone at the other end is willing and able to complete the chain.
Also due to the in-app prices not updated instantly this could add to the issue? Just a thought…
Yeh Yahoo finance shows it hitting £1.34 at 3pm but no lower for the bid unfortunately.
On the app it shows Argo going down to £1.33 - please see the screenshot.
Then they should make things clear, about spreads, etc.
If you’re paying for a service which includes Stop Losses/Limit Orders, shouldn’t you be provided with this info?
If the price briefly touches your figure does not mean you get it. Hate to break it to you but there are thousands of people with stop losses and buys that are exactly the same. They didn’t get triggered either.
This isn’t unique to freetrade but HL too. If you want to buy you have to either manually do it and pay whatever or hope there is sufficient buyers/sellers to match you.
Hi Ben,
The price didn’t touch ‘briefly’ the £1.35, it went through it to £1.33 and the Limit Order wasn’t executed.
Your Terms & Conditions are stating:
(i) Triggered Buy Order - if the price falls to, or below, the Trigger Price set by you, it will trigger an Instruction to buy the relevant Security.
The actual execution price may be higher or lower than the Buy Trigger Price. The amount of the Security we will seek to purchase will be determined by the cash amount you entered in your Instruction and will include fractions of shares.
Was £1.33 the buy price in the market and not just the sell price?
How can you do a Triggered Buy Order on Argo? It’s a UK non-fractional share.
I was buying 3.700 shares of Argo, not fractions…
Their T&Cs aren’t mentioning anything about spreads/sell & buy price. Only about the price.
It’s written black on white:
(i)Triggered Buy Order - if the price falls to, or below, the Trigger Price set by you, it will trigger an Instruction to buy the relevant Security."
You didn’t have a Triggered Buy Order, you had a Limit Order, where execution is not guaranteed.
The price on FT is the mid-price. If the mid was 1.33 that sort of implies the buy was higher.
OK, but shouldn’t that be mentioned when you set the Buy Limit Order?
Everybody would know at what price to set it, then.
It makes no difference to what price you want to set it to. The price you want to buy at is the price you want to buy at, but the market has to have a buy order at that price before it execute. they cant execute an order based off sell prices. There were no buys at 133 so the limit order worked as you wanted it to.
