Freetrade FX Supplier Prohibiting Orders

So what’s the solution here? How can you have an FX supplier that is allowed to shut down our entire buy order access to US markets? Why should this not compel us to move to another broker?

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You need to fix this ASAP look how this turned out for Robinhood

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Sus.

Someone needs to explain this to me in very simple terms.

I only spent 20 years on a derivatives trading desk, so am a little slow on these things.

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Different than RobinHood. Transparent reason. It’s the FX provider and their banks fault.

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Oh so that clearly explains why you can sell FX but not buy FX…

If that was the reason, they would cancel all USD transactions.

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This is out of their hands - obviously incredibly frustrating (most of my investments are in US companies so I’m fuming too) - but the blame is with their US partner. Unlike Robinhood who made the decision themselves.

Yeah it’s BS from their provider and they should sue

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At least Freetrades have been transparent on the reason why they’ve had to stop US trades, it wasn’t by choice, but forced by the US FX partner

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After seeing what happen to RH yesterday i’m surprised you didn’t check against any situation like this occurring. Hard sell to go on tv saying you are an open platform and then one minute before trade hold ALL US stocks.

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This is manipulation by the global banks, shocking, I think FT needs several providers but I guess all the banks will do this. Feel sorry for Freetrade trying to do the right thing all along.

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You hit the nail on the head. Extremely hypocritical.

Posting this again here:

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Why all the US market and not just the few stocks that others are restricting? This is terrible for Freetrade.

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It was never said that this couldn’t/wouldn’t happen. It was said that it was not the intention of the company for it to in any way. Clear that this isn’t FT’s decision.

This is terrible for people trying to get in to GME but overall this isn’t a disaster for Freetrade. They’ve had publicity as being the honest broker that was sticking up for retail investors and weren’t (and still aren’t) restricting available shares just because they were popular.

Freetrade are continuing to be honest and transparent about the whole thing, unlike RobinHood. This is how reputations are built.

What’s happened is very annoying for us but I can’t imagine how absolutely FING PED off Freetrade are at the 3rd party supplier right now.

When this whole debacle ends up in front of some government select commiittee, I can imagine that Freetrade will be there speaking up FOR retail investors rather than trying to make moves against us. I’m not sure which side T212 and others will be on.

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well, I guess today is the day to buy British :rofl::uk::sparkling_heart:

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No buys is one thing (and highlights the need for multiple partners…), but from Freetrades message, it sounds like sells might be impossible too - they’re quoting “substantial delays” to sell orders. What is a substantial delay? Will the price when we click “sell” be honoured or will we sell at a mystery price hours later? We need transparency in what is happening with sell orders.

Surely if the brokerages in the US can been trouble for halting things, then this must be the case for FX partners to be in hot water too if their reason for doing so is that their bank simply wanted them to?

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Yet the whole US market is closed?

I agree with Freetrade being the champion for retail investors, and Viktor did a great job this morning reiterating that, but issues like this have an impact.

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