The team has been working throughout the weekend to invent a technical solution following the unexpected decision last Friday by our FX provider’s bank to severely limit our order volume.
We will start to roll this solution out when the US market opens today.
What to expect and what we’re doing:
- You will be able to place sell orders on all US stocks from 2:30 PM today, as normal. We do everything in our power, so we don’t have to prioritise orders, but if and when we have to, we’ll prioritise orders of people wanting to exit their positions.
- We will enable buy orders on US stocks in phases. This means that buys on highly volatile stocks will be enabled only once we are confident in the integrity of the solution we are implementing. We’ll enable stocks by starting with most widely held ones, and we’ll enable stocks such as GME and AMC only once we are fully confident. That can take some time. We’ll keep you posted.
- You are able to place a sell order on any US stock before market open, and it will execute in a batch at 3 PM as normal.
- You are able to place a buy order on a small number of US stocks before market open. These are the same stocks that had buys enabled on Friday. We will batch execute buys that you place now later than normal, but within US market hours. There is a chance that your Basic Order to buy a US stock will get cancelled, if technical issues arise. buy If you have placed an order you have until 3pm to cancel this order.
- We saw an extremely high amount of deposits coming from Apple/Google Pay. To continue running deposits as smoothly as possible, we had to decrease the lifetime limit to £250. We may have to decrease it further, potentially switching it off temporarily. We kindly ask you to please use open banking. We are aiming to process deposits faster for you than the usual 2-4 business hours, targeting to do so every 30 minutes.
You can see the list of stocks available to trade below, and we’ll keep this list updated:
[Removed, all stocks available]
We are expecting potential market-level disruptions during the trading day including circuit breakers and rejected orders as a result of the extraordinary volatility that we have seen in recent weeks.
Our US trading partner informed us that due to the unprecedented market conditions, they may have to place temporary buy restrictions on stocks such as GME and AMC.
Please remember that there are additional risks associated with investing in such market conditions and that your capital is at risk.
We will update this thread with any new information.
UPDATE 1, 1:01 PM: We added a warning that Basic Orders to buy US stocks might get cancelled if technical issues arise.
UPDATE 1, 15:37 PM: All US stocks except those stocks in the media headlines ($GME, $AMC, $BB and $NOK) are available again. Give us more time. We’re working on it.
UPDATE 3 4:53 PM:
UPDATE 4 5:11 PM:
Please note our US trading partner is doing its best to keep buys going. They are assessing the ongoing buy volume, and they may have to temporarily shut down buys on AMC. We will keep you posted as always.