Itās not clear it was this and until otherwise known I think we should avoid conspiracy theories and speculation and stick to the facts
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Are you saying you had selling issues? Because I was able to sell today and yesterday fine. Use limit sells if possible.
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GME has traded below the opening price all day today, so would-be buyers might not have missed out as much as they think.
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Agreed. Still donāt get the āI lost money because of thisā line. It was never yours in the first place. EG:
Are you then going to sue Tesco for soiling yourself because their loo roll supplier failed them and your ācontractā is with Tesco?
Imo this is a good advertisement for sensible, long term investment. Some people jumped on the hype train and got in a frenzy.
Iām as calm as can be because my investments are all long term. To me the dips we are currently seeing are buying opprtuinites.
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I definitely have had selling issues. I cancelled a triggered sell order 30 hours ago because I wanted to have the ability to sell when I believed the price had peaked.
It is still pending and I am unable to sell my shares. Every time the price drops itās costing me real money.
A thread 1/n
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were you not able to sell? Selling was still possible and orders shouldnāt have just disappeared
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Absolutely. Anyone only getting involved in GME in the last 36 hours has essentially taken a coin-toss depending when they bought with the price going 300>400>120>400>300
other than the scale, no different to any other pump and dump stock and id imagine it will be a familiar group of retail investors holding the bag when this resets in the coming days/weeks
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Robinhood are limiting buys of 50+ stocks.
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Two of my queued orders were cancelled today
Will Freetrade going to take their FX broker to court to compensate losses to their customers?
Not a rant. Genuine question.
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Thanks for that video clip Virtuous, everything was well explained.
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Lots of FX transactions is not unprecented. FX is the biggest market with millions of transactions/day. FX, the most resilient and mature market with the most transactions/second. Failing on that is not acceptable, ever. Barclays failed or short changed :freetrade:
We are in a world of algo-trading with machines dealing in nanoseconds and millions of instructions per second. :freetrade: engineers lecturing on tech infrastructure but failing on operational resilience discredits :freetrade:. Fine they know their cloud architecture, but defo canāt ensure continuity of FX serviceā¦or maybe it was a business decision failure, choosing the cheapest FX partner instead of a better one.
So Barclays failed but maybe the way :freetrade: send FX orders to Barclays could be rationalised, streamlined, optimised. Indeed, why do :freetrade: execute an FX trade for every order? Donāt they aggregate them to reduce the number of trades, especially for batched orders that you should all aggregate into 1 single FX trade? Donāt they already do this? Also, arenāt buy and sell orders netted off to further reduce the number of FX transactions? If FX orders aggregation and netting not already the case then itās also a :freetrade: failure.
Finally, letās go back to my favourite :freetrade: topic. Why do we even have to execute an FX transaction for every trade? Should not :freetrade: offer a currency account for every market with a different currency, just like Interactive Investors?
I think a Zoom call going over what happened (post-mortem, remediations, next steps) followed by Ask Me Anything (AMA) is in order, as per :freetrade: tradition. That would offer better transparency and renew customer engagement.
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Because individual instant market orders?!
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Then there should not have been any issue with batched orders which should all have gone through. Did they all go through?
I believe they already batch the 3 pm orders. The individual ones canāt be batched, hence multiple trades must happen. Itās inevitable. Unless we are happy to see our instant orders on hold, waiting for someone else to join. Would you like that?!
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Did all the non-instant orders, for instance the ones to be exececuted at the open, get their FX aggregated and all executed? If no, then there is no excuse as could and should have been 1-single aggregated FX order.
I have Ā£900 sitting in limbo to invest in US stocks this weekend for market open, will freetrade open up full trade this weekend? Iād like to invest in the AMC train, I have 11.5 shares but aiming for 100
I have no reason to think they havenāt. Do you?
A Zoom call + AMA is in order to clarify all this.
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