Problems with Limit order execution

It was a limit sell and I have contacted customer service who have clarified things. It was no fault on behalf of the platform thankfully and no error was actually made. In my sleep deprived confusion I mixed up my limit sells. All is well :slight_smile:

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Hi guys.
Im new to trading. I set a sell limit on my stock, the next day the value went up and over the limit twice during the day but the sell didnt happen. Just wondering if i did anything wrong or maybe misunderstood how it works. I assumed it would just automatically sell once it hit the limit. Any ideas?
Thanks.

A sell limit isn’t necessarily a guarantee of a sale. For your sell to occur someone else must be willing to buy them from you. For example, there may have been many other people wanting to sell at that price or slightly lower as well, at that price, and if only a few people want to buy at that price, then not everyone’s order would be filled.

There are other factors which could affect whether an order fills such as liquidity of the stock.

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Morning @Da_MoLe

I’ve moved your post over to the existing thread as it includes answers to your questions.

I’m trying to sell shares of ALL and Freetrade is rejecting every order, instant and limit.

It won’t even let me set a limit order at a lower amount of my choosing. How can a limit order get rejected?

It should at the least, enter the queue and just sit there until the stock trades at that price level.

Also - there are plenty of transactions occurring, as shown on LSE’s LEVEL 2 data (see screenshot). So what’s going on?

It’s also not order size. I’ve tried small orders, that will easily trade into one of the below…

Just for the record there is an issue with limit orders at the minute and support/devs are investigating it apparently.

It’s the same issue that was described above where older limit orders don’t execute.

I have screenshots of two examples I’ve sent shared with them and they have acknowledged something is wrong.

Thanks for the clarification sj1990 :ok_hand: :+1:

You’d think FT would put one of those in-app splash screen messages up about this; it could really be a big problem for people today since the FTSE is on the verge of tanking etc…

My impression is they are trying their hardest to avoid calling it an issue, it was a bit of an uphill battle to get them to even investigate it :sweat_smile:

The latest price for £ALL is showing as at 09:28am (I’m writing this at 11:12am) - and this stock has been trading all morning roughly every 5 minutes. Something isn’t right…

I’ve raised an issue, and Freetrade Support have acknowledged there is a technical problem. The price is stuck at 09:28am and any order of any type, size or price is instantly rejected.

Meanwhile, I’m watching the price decline and can’t execute any orders.

As I face potentially losing money due to technical issues beyond my control, preventing any sell order from being placed, is there a case for some kind of compensation in this situation?

Brokers like HL offer compensation in similar cases, but it’s unlikely Freetrade would and I don’t think they are obligated to.

The limit order issue is frustrating as it’s clearly been a problem for some time.

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I would recommend raising the compensation issue directly with money@freetrade.io

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Well heres a good one.
I had a stock today that made a profit, yay.

I also had a limit order to sell so i would get a bit of profit and be done with it.

Now suprisingly, it made it to that line at which to sell and kept going up, but the stock didnt sell…

Lets contact the support. “There hasnt been any problems with the system”
Now mysterious, the limit order has disappeared…

Great so not only does this platform have a system that doesnt work. They will deny it and remove evidence to make it look like a user is at fault.

Think time i go else where.

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How long did you have the order set for?

They expire after 90 days. That’s the only reason I can think it would disappear.

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I’ve never had a limit order deleted, but limit orders are definitely not working as they should be - as reported by numerous people on the limit order thread!

The problem is the longer the limit order has been there, the less likely it is to execute.

Finally, after months of escalation support has got back to me:

"I have looked into the details of your conversation as well as the history of our internal discussions and those with our limit order service provider, IRESS.

While our engineers have confirmed that our internal systems were working correctly, we have been unable to confirm this with IRESS.

Unfortunately, as their logs have now expired, we can’t provide any further information on this, however, we have pressed IRESS and they have advised that they have had other instances of this reported and they will be investigating internally."

So IRESS has finally admitted they have an issue and they are investigating it (despite covering their tracks by removing logs :roll_eyes:).

Dealing with Freetrade has been like getting blood from a stone - I’m very disappointed it’s taken so long for them to even acknowledge there is an issue.

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Ive been a basic member for a while as I wanted to try a more active interest rather than through H&L. I have really enjoyed it so this week decided to upgrade to get the extra benefits. Great to see the limit/stop orders so ive been trying it out, so far dissapounted. I placed a small order and despite the price dropping well below, it didnt and still hasnt closed. On the other side of the coin, yesrerday one closed higher than ordered. These have only been very small trades but could have been a costly mistake. Its very difficult to keep an eye on multiple stocks, so I was happy to rely on the tech, maybe not the best idea and so far even lost ouy on more than the upgrade fee. If it was a serious order it could have lost a lot more.Whats everyones experience on stops.

Have DMed you Nick! Thanks!

Thank you Gaurav. Ive replied.

I’ve been burnt as well. My stop loss got triggered but couldn’t find anywhere (google, yahoo and LSE charts + FT own chart) price going below the stop loss limit. After contacting support I was sent a screenshot of a terminal that showed price indeed fell below the stop loss limit (on that the spread for the ETF was £7).
Anyway sometimes I’ve noticed that stop loss do get triggered for sudden drop in prices (and on the other hand the limit buys don’t). So I have stopped relying on stop loss.

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