I know there are certain delays with using CBOE and IEX for ‘realtime’ pricing, but if there is a way to limit the 10/15 min delays to as close to instant as possible it would have my vote
Would it be possible to link data source to Google finance which provides free real-time stock quotes
Does anyone have an idea of what it costs to get real-time updates on the LSE? Anyone with another platform that provides that? What do they charge?
Around £50,000 a year I think
So potentially within the scope of becoming an added benefit of the paid membership, when Freetrade have more members.
Not that this feature is really in line with long term investing…
Yes, I can’t see why this would be an important feature if you’re investing medium or long term. For traders then 15 minutes might be important but investing over 5 or more years?
I would say this is something that has to be done. Otherwise you don’t know what you’re buying or selling. You think you’re buying at X, it turns out to be Y, and you’ve committed to the transaction. This is not an investment tool, it’s a trading tool and is not credible if the price you pay/receive is out of date.
Just to clarify, we’re building a service for investing not regular trading.
But the value vs other options is the ease of trading
Yes the intuitive design & ease of use is one of things that we’re focused on. But I’m not sure how the time delay for some of our prices significantly hinders long term investors?
You may be right but I’d wager there will be a fair few users who’ll jump on how easy it is to use, then get pissed off when they miss the boat on something by 10 mins and make a lot of bad noise as a result.
Yes I think so & that’s inevitable to a certain extent because we only have limited time / resources, we have to be focused on building the right product for our market & the users that we want to attract.
Yes, and be very clear so you manage users’ expectations correctly.
Hey, here’s hoping £50k will be a negligible business cost in years to come.
I take all the comments about a trading vs. investing platform, but in my opinion having real-time data in the app is essential to making an informed decision about whether to buy or sell an investment. What happens if someone uses the prices in the app and there is a ‘flash crash’ or a sudden shareholder announcement which causes the share value to plummet?
You’d have to have the app open to see that the price has dramatically changed in that scenario. Otherwise you’d have heard the announcement, know the prices are delayed and are falling/rising and take action anyway
This is one of the reasons why I personally like the idea. It’s just that obviously this happens fairly infrequently, which is why this functionality might me a lower priority.
I feel like the “reaction time” to material news for a human who isn’t trading for a living will often be 15+ minutes anyway, so you know. Mind you, I generally don’t look at prices so I would say that.
Agreed on infrequency of these events. Opening quotes are also an area of volatility, for example on market opening this morning (around 8:05am) I was looking at a stock which was still showing the closing price on Friday!
If the majority will auto-buy index funds once a month, I doubt there is such thing as “missing a boat by 10 minutes” at all
I can assure you no one will argue against the usefulness of live pricing, but when you consider the value for money, it is incredibly negligible for a whopping £50,000 Freetrade would have to pay.
At the moment, I completely agree, hopefully one for the road map!