What are we doing wrong with our lives?
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Try placing a basic trade, and an instant trade at 4pm, and see what happens. Maybe as basic trades are bundled, thereās a bug with just one of the bundled trades tripping the entire trade.
I typically use instant trades. But I have tested basic trades and it worked ok. My smallest test was Ā£17 worth of Draper Esprit, and BP is an order of magnitude more liquid.
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Maybe Iām missing somethingā¦basic trade is perfect for long term buy and sell and Iām not worried if its a bit more or a bit less and Iām pleased freetrade has these security measures on my otherwise open ended purchase. If im a day trader then I can pay 1 quid for the privilege. Just 1 pound. If you want to do day trades it will be a bit more hit and miss but if you are buying and selling during big day swings then rejections by default are much more likely.
Iām so happy with the system and Iām just baffled why some are so unhappy. HL charges 12 quid to buy and 12 quid to sell plus more to hold. Feel free to make a ftse 100 company bigger.
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Spot on. Ā£1 for an instant trade. Thatās it. Just pay it if itās so important to get that exact price and not risk a rejection.
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I think the problem here is if someone has purchased a small value of shares, letās say Ā£10 worth, using a free basic trade. Itās then not economically viable to sell them using a Ā£1 instant trade, as you will be around 10% down (depending of course on how much the price has moved since the purchase).
I have also only used the instant trades since joining Freetrade, but I can understand it must be frustrating for a sale to fail on consecutive days.
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Buying Ā£10 worth of shares in any company doesnāt really make sense if you are essentially trying to trade for a profit over a short time.
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Thanks, Victor. Is there any criteria for what determines if it is a ābad priceā? I.e. the best market quote is more than 1% above the listed exchange price. This seems subjective.
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Unless you are trying to diversify while building your potā¦
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The problem is the legislation is subjective. It is down to each brokerage house to decide what is fair (this is market sensitive information) because brokerage houses ultimately bear the risk. Seeing as Freetrade is a place for fairly novice traders it seems eminently sensible that FT plays it more conservative.
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Still doesnāt make any sense. If you want diversify and you only have Ā£100 to invest buy a fund and not 10 x Ā£10 for instance.
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Parts of this thread became unconstructive, so it earned a bit of a time-out. We will close it for now.
To reiterate, we, as a European stockbroker, adhere to best execution. Read more about how weāre optimising to get you the best price:
Our order execution policy:
As @klockyer mentioned above, we do get that rejected orders are frustrating.
Weāre looking into a new product feature: retries (in case your order gets rejected, we automatically try executing it again). We are also looking to provide the reasons that explain why a rejection occurred, directly in the app.
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