I have executed 3 buy order for Ceres shares in the last 12 months on Freetrade and couldn’t understand why they were looking like they’d performed so badly. I went back and checked and despite when executing the trade the buying price was indicated as the live price, on each trade Freetrade bought the shares at almost double the live price.
1/8/22 - average share price on the day - £3.54 - Freetrade bought at £6.01 - 70% over the live price.
15/8/22 - average share price on the day - £3.25 - Freetrade bought at £6.79 - 109% over the live price.
10/1/23 - average share price on the day - £1.74 - Freetrade bought at £3.75 - 115% over the live price.
Freetrade have said only that each time that was the touch price - the best price available, and there is ZERO customer service. They have refused to acknowledge the ridiculous gap between the live price and the touch price. I have asked them to confirm for my own sanity what the live price was for each of those and they said ‘we don’t have this calculation on our end’, despite it being public information that anyone can find out. I have also bought Ceres twice on Hargreaves Lansdowne, both times getting a price at or very close to the live price. This has cost me thousands of pounds and they won’t even acknowledge there’s an issue. I have been a supporter of both Robinhood and Freetrade but I am withdrawing all my money and closing my account. The fact that this is even possible is mind boggling. The fact that Freetrade can’t even employ people in customer service is even more mind boggling.
I would urge everyone to go back and check sale prices and live prices. I can’t believe I’m the only person this has happened to.
Hi @Moffittation thanks for raising this and providing some detail. We’re looking into this now and will figure out what’s happened.
We wouldn’t execute trades at such wide spreads. That falls well outside best execution requirements. So we’ll get to the bottom of what’s happened here.
Agree with the above post looking at the dates you bought shares on I can’t see where you are getting there average daily price you quote from. I think you need to look again at your figures you might find the ft haven’t done anything wrong and you are in someway confusing things.
Also if I had bought shares at over double what I thought was the the correct price I would have asked why straight away not waited a year to 18 months to do it.
I routinely check the contract notes, either randomly or transaction by transaction, depending on how many transactions I have executed (it’s rather boring). The only strange, concerning transactions costs I have notices are when a very unfavorable exchange rate applies, but nothing to that scale for sure.
I wouldn’t spend too much time looking into it to be honest.
ETA : took 1 minute to check and the average prices used by the OP look remarkably similar to the prices exactly 1 year after the dates quoted
