I placed an order for stock as well as payment for a Plus account this morning. You’ve pulled a RobinHood and I will be going through another service. Why have you also removed the button to cancel the order on queued orders? I want my money back as well as the money for your Plus service as it cannot be used as advertised.
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Have you read the in app message? The fx provider has given not notice but has put a restriction on freetrades us orders. You can still buy UK holdings but this is not of freetrades making. In very difficult times for everyone. Coming here won’t allow them to give you your money back. Do that using the in app chat
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I got that bit. why is the button to cancel an order been removed from queued orders? Also paid for Plus for what i needed, which has now been restricted, so i would like a refund and to withdraw the money in queued transactions
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I think this is the main issue. If you had limits/orders set you can’t even cancel them to move your money elsewhere. Should still be able to cancel an order.
I can only say freetrade are as transparent as they come, so I trust them to do the right thing when they have sorted this out
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Hopefully that’s a bug as a consequence of the fx providers actions so the team may be working on that
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From another thread. You won’t see this from anyone else.
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They haven’t pulled a robinhood, they’ve had their hands tied and I’m sure they are doing everything to get it sorted-Also purchasing plus for a short-term investment seems a bit silly to me
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I cancelled, just keep trying.
Thanks for the responses everyone, helps clear things up a bit. Funny that select stocks are being turned on for buying, but not GME, blackberry, Nokia. Thats market manipulation, same as RobinHood
You know exactly what occurred yesterday, certainly not manipulation by FT. Chill out
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So in what way is this not the same as RobinHood. Even they turned the ability to buy those stocks back on. FT have not
Market manipulation would require there to be some sort of gain for Freetrade. They aren’t gaining from this - it’s causing a loss of revenue for them.
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Their FX provider allowed 1/18th normal volume. I would assume GME would’ve been more than that on its own. So either you allocate it to half GME buys or the rest of the market bar a couple of other big ones (TEsla). They made that call and they’ve defended it.
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Does anyone know if bigger players like HL had this problem?
Exactly - Robinhood did it out of choice when there wasn’t an extreme limiting factor such as the fx restriction placed on Freetrade yesterday. Robinhood did it for other reasons, whether nefarious, or just scared, we don’t know yet. Freetrade on the otherhand were forced into a position where they had to choose how to keep clients best interests moving without maxing out their suddenly highly restricted fx volume. They went with allowing customers to exit positions - coz you can’t stop access to funds, and then opening as many lower volume (based on yesterday) stocks as they could. Not sure what is hard to understand about this?
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Which problem? The fx partner cutting their supply to 1/18th volume? No idea.
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HL were only allowing ‘fill or kill’ trades on AMC / GME on Thursday, didn’t check yesterday. That would have eliminated almost all volume as you aren’t going to buy unless you can see the price and certainly you don’t want to be trying to sell blind with huge volatility.