Can't trade - no answer for 2 days

The orders won’t be processed if there’s not a buyer - based on the amount you’re trying to sell, there just simply might not have been someone wanting these quantities of stock (whether this be too many or too few).

I’d imagine a lot of people are trying to exit their positions in this stock, and the amount of people able to buy is extremely restricted which will make the process even more difficult.

I completely understand the frustration around customer service response times and hope you get a response soon but feel it may be along similar lines of what I’ve posted earlier in the thread.

This borders on the debate on previous threads as to whether Freetrade should be there to alert their customers of all changes that could have implications on their holdings - personally, they’re a platform to facilitate the trades and not to help track changes that may impact individual portfolios. Opinions may differ.

In terms of what can be done in this situation, I say it would either be to continue to try and sell the stock in app, possibly even smaller quantities at once to try and clear some of it. I do hope you manage to exit your position and you get a response to your query from customer service, but I fear that won’t automatically mean you can sell.

5 Likes

Take your advice and … write it down. Just in case you might ever need assistance from FT :wink:

Jeez, full of empathy here, everybody wants to help … They should rename this section from “Help” to “Post here if you want to be mocked by kids” … :thinking:

Many thanks, @Schkempo. Finally a worthy comment, I was about to lose hope here.

Why would the order not be processed and posted, regardless of matching buyers available in the market? I thought especially the limit orders and triggered orders are posted regardless, and triggered when the conditions are met.

Much appreciate your support on this. :+1:

Are you having a laugh, “Finally” if you had read the comments earlier you would have understood that other community members were trying to help you. And you are right I’m a BIG kid at 53yr old :stuck_out_tongue_winking_eye::stuck_out_tongue_winking_eye:

1 Like

Brian, no offense, you were not helping, you were telling me how I’m an exaggerated fool … and trolling my comment to stay on topic … 53 or 7, still childish ! Good luck with everything! :+1:

I was only suggesting you calm down a little,it’s not healthy letting money dictate your behaviour in such a negative irrational way.

From my understanding, the triggered/limit orders would monitor the price and then attempt to process the trade when the conditions are met at the best available price. If there is no ‘available’ price if there is no demand then it would be almost impossible to track.

Certainly when I’ve been trying to do research, there appears to be a lot of gaps in the share price data - not with Freetrade, but even Nasdaq where the stock is listed didn’t have data available on the share price at numerous times over the course of the last 7 days or so, instead just listing the share price from last update which at times was hours, almost a day previous. Without that info, a triggered/limit orders physically can’t perform their task, so in absence of this data can’t reasonably be fulfilled.

The other problem with this stock probably comes from the fact that there is so little volatility on it. There are over 446 million shares of the company on the Nasdaq so can imagine a lot of investors are trying to exit their positions. 17k daily volume into probably a minimum 10-20m trying to be sold isn’t great odds of your shares being the ones that gets processed.

Apologies if that sounds very basic, in no way aimed at your understanding of the process just trying to articulate it clearly.

3 Likes

Many thanks, Scott. My expectation is that limit orders are placed in the Bid Ask queues for everyone to see and also announced so that they can be fairly processed in FIFO order. I understand your point (order is introduced only when deemed necessary by FT algorithm), but I’m not sure that’s how it works.

At this points it would be really useful if someone at FT can look into it and confirm exactly how the order posting mechanism works and potentially eliminate other causes for this (account misconfiguration, corresponding brokers limitations, etc). Which is what I’ve been trying to get from the beginning.

Hopefully they pay attention to this and within a week I get an answer :pleading_face:

…and you clearly haven’t been following this discussion either… just making assumptions and passing judgements :roll_eyes:.

I’m not asking for baby-sitting, I’m asking for FT to investigate why I can’t post sell orders since stock is still trading on NYSE.

With all the recent threads including yours - might be time for a new blog post with some examples getting into more detail and accounting for limit orders.

For the time being make sure you have taken a read of the following:

Recently updated help article:

Execution policy:

Blog post from March 2020:
https://blog.freetrade.io/why-orders-are-rejected-in-volatile-markets-3696484fe71d

Blog post from February 2019:
https://blog.freetrade.io/how-do-freetrades-orders-execute-5db0d35a8ea2

Blog post from November 2018:
https://blog.freetrade.io/dealing-with-order-rejection-1f308e2fe12f

5 Likes

Yeah I completely understand your thoughts re FIFO, though in practice would be easier with high volume stocks. If you’ve got 75 on sale and there are only 5 people buying 5 a piece, it wouldn’t fulfil your requirements so would likely buy from those selling 5 each to complete the orders.

The order can only be completed (or even posted) if a price is there which seems very sparse over the past few days. The article links posted by @szb seem to point towards that at time of attempting to place, there are no valid quotes which ties in with how the stock has been acting recently.

I hope you do get an answer over the coming days, and it would be good if you can share a final answer for us all to learn from as well if you don’t mind?

Best of luck.

3 Likes

Many thanks, Scott (@Schkempo) and Sergey (@szb), much appreciated :+1:.

Indeed, some clarity would be most welcome. The 2018 post on order rejection could use a refresh, at least for US stocks for example (the RSP, UK market makers, mechanism of match-or-fail probably does not apply for US stocks, where FT uses a corresponding broker, Interactive Brokers if I’m not mistaken).

From the Order Execution Policy post (Jan 2021), it is not really clear if Triggered and Limit orders are introduced immediately in Bid Ask queues or only when/if the condition is triggered. What it does say is that Basic Orders will be processed at whatever price they can be matched at market opening + Cutoff Time (apparently you cannot place Basic Orders during market hours). So I now managed to put a sell Basic Order in the queue, which will (fingers crossed) be processed at 3PM:


It’s the first time I manage to make a Sell Order stick, so this made me smile :smiley:

I will keep you posted :+1: .

PS FT Customer Service, don’t hesitate to jump in at any time :yum:

1 Like

DriveWealth is the partner for US trades if anybody asks this question.

Same issue but for plug power I have painfully watched the stock sink from the heights of 78 to barely 45 while unable to sell or get any response from freetrade over a three week period

2 Likes

Order rejected. All subsequent attempts failed too. :disappointed: :confused:

Hello you suggested the same thing yesterday,why are you suggesting he leave negative feedback AGAIN. I would suggest contacting Freetrade AGAIN

Because contacting support isn’t working obviously, as he stated in his message. So instead of sending another message and hoping they get back to him he might as well do something that will get a result faster.

I think he should also contact FreeTrade again at the same time but we both know what the result of that will be…

You suggested it to him yesterday,so why are you encouraging him again. Do you think it is helpful to Freetrade as a company if people go running to review platforms. Can you imagine if everyone went running :running_woman:. It’s not a nice thing to do. They just signed up about 200,000 customers in about 6weeks. Try and cut them some slack.

I’m sure it will be a big topic at the Zoom tonight. He’s not wrong for wanting a quicker response.

The app has it issues but they’re rare and other brokers are far from perfect.

Like you said, these support issues (and deposits issues) existed in December when numbers were lower and FT just couldn’t accelerate the hiring enough when the tidal wave hit. Knowing them they’ll be grinding out a (better) long term solution that will take ages to implement, rather than a short term one that would tide them over quicker and solve your issue but its potato tomato. Hope they tackle it head-on tonight.

Damon, product manager from FT, has given some great insights on the Truelayer’s event today.

Looking forward to todays’s AMA

Don’t forget to like questions that are important to you here:

1 Like