I bought UK ETFs at 8:55 this morning. The market fell massively in the opening minutes. About 5 mins after I bought, the ETF value dropped 9% in my portfolio. I understand things are not always entirely up to date, but for something that happened an hour earlier to be incorporated into a holding after the purchase is complete bulls**t. Anyone else experiencing this?
I’ve not had anything like that… but did notice this little gem
Things are way too volatile this morning.
I accept that things are volatile, but buying at 8:55 and paying the pre-market price is just not on. Could someone from freetrade comment? Is it the ETFs? If so, do they react the same way when the market is way up? I doubt it.
Which ETF was it and what’s the timestamp on the recipt?
I am very new to Freetrade but I have the impression that it is not a platform for day trading and getting the best execution price milli-second by milli-second. What you see on the quote is not the final price you will get. It is for buy and hold type of investors.
I use ii and HL and both will tell you what the execution price you will get and give you a bit of time to accept or decline. Perhaps Freetrade can do that as well.
I can’t get the graph at exactly 8:55 but you can see it was nowhere near the price I paid during that period
I can’t actually find a graph with a high enough resolution to see what happened. Even webull won’t give me minute by minute for that one, but it does have some pretty big error bars.
Could you send us an in-app message on this and we can take a look into the order for you?
I already have
Same issue here for $IUSA. Had loads of orders rejected. Eventually managed to place a successful order around 8:30 this morning (when the share price was around £19-21) and got it through at £25 ($IUSA hasn’t reached that price today).
Raised it with support to see what happened as it doesn’t seem right.
It seems that FT is not reliable for trading in such volatile conditions. I would prefer HL where I get the price before confirming the trade whereas on FT it is a blind trading. I burnt my finger earlier for AIM trading on FT where i ended up paying 7% higher (no fault to FT) due to higher spread at that moment . Funny enough I could see my trade on HL recent trades though
A confirmation screen showing the price offered by the market with a chance to turn it down seems the best way to fix this. Hopefully freetrade can look at that at some point.
I understand that the price freetrade shows bears absolutely no resemblance to the actual price, so I don’t use it at all, but when I use an up-to-date reliable source, I accept there will be fluctuations and spread, but I don’t expect the price I pay to be almost 10% higher than the actual price.
It’s been 2 hours and no-one’s responded on the app. Pretty poor.
I’ve checked the LSE trades and it’s not showing. I don’t understand how it all works but I thought that even though it’s through market makers, the trade would still be “mine”?
We’re really sorry about the time it’s taking to come back to you via chat.
The current market conditions and a huge increase in new customers in recent weeks has meant that we’re incredibly busy this morning! Whilst we accept that this delay in responding is unacceptable when you need answers, please rest assured that we are actively expanding the team in line with this positive boost for Freetrade.
I see your query has been answered, but do DM me here if you’d like more support with anything.
Thanks, Meghan. I appreciate things are super busy now, and Shanice has got back to me in the meantime.
Glad to hear that Liz! Thanks for your patience here