HELP

Help 👋
1

I just tried to sell my US GVT BND 7-10 year stocks.
It was trading at £174.64 at the time.
My stocks sold at £160.
Surely that’s a bug of some sort? That’s a difference of more than 8%!

2

Omar,

Best course of action will be to raise a dispute in the app. If you open the app, click on the top right profile image and scroll to the bottom you’ll be able to chat with support who can look at this for you.

This is a community page, so unfortunately no–one will be able to help with this here!

3

Hi, I have done so.
Just wanted to see if anyone else has had a similar experience and that this isn’t a regular occurence.

Thanks,

4

This has been brought up this week - it’s prevalent because the markets are incredibly volatile.

The official response on this occasion was:

5

High volatility, low liquidity, more people selling than buying. Supply and demand is out of kilter at times like this, hence the penultimate price may be significantly lower than the expected market price if no-one is buying.

6

Thanks,
I understand that the bid/ask spread would be much wider due to volatility and price swings but by 8%. Surely my order should have been rejected at that price…

7

I have no idea, I don’t own the stock or know anything about it.

As I said before, investigate via chat and by all means report back when you have your answer.

8

I wonder if someone is going to do a test to sell same amount of units of same stock from multiple platforms at same time… I imagine there will be a slight difference between them…

Anyone willing to take the challenge?

9

Why don’t you do it?

10

I’ve only got a FT account which is execution only… I was just putting suggestion out there if someone else has multiple accounts.

Maybe you’re right, I’ll see if I can open an account elsewhere and try it out… Might take a couple days. Others can try it they want to validate. I wonder how many people are inquisitive as I am about these things.

11

Testing begin! Approx 3.20pm

Purchase:
Physical Silver, 2 units: Competitor: 22.74 (matched price in app of 11.37), FT: 22.72 (lower than price in app of 11.44)
Vanguard Ftse100 VUKE, 1 unit: Competitor 24 (matched price in app), FT: 23.99 (lower than price in at of 24.07)

These were instructed to execute one after the other (within 5 seconds of each other). The competitor was executed first.

Findings: no material difference was found in execution price. But the price on the freetrade app lags behind competitor/market, thus giving perception of getting different price.

Comments: this was low volume test towards end of trading day and findings are by no means conclusive.

6 Likes
12

I sent several messages over chat, I was promised a ‘report’ on my trade in a couple of days. It’s been over a month, chased it up several times. Time to close ISA and move to another platform for me…

13

If you read up about that day you sold on just about the worse day in history for US treasuries. The markets were seizing up. Freetrade is not at fault there. You executed a market sell which means you sell at any price (as long as it meets the legal Beat Execution rules which Freetrade will have adhered to).

14

Hi @Omar0808 - if you drop me a DM here I can investigate this for you.