Suggestions for rejected orders

In the past days, I have had a few orders rejected (one “sell” and two “buy”). This was unpleasant.

I know Freetrade aims to reduce the number of rejected orders to basically none in the end, but I think that there will always be a small percentage of rejected orders, especially for basic ones (all executed in the same time window, so if something goes slightly wrong around those times a lot of investors are going to see a rejection). So, why not make this process better?

  1. We need to get a notification. Yes, it is unpleasant, and yes, we all love positive notifications. But it is easy to overlook rejection of an order when it is just in the activity feed (and maybe you were buying shares of a company you already have in the portfolio!) and only to realize later. A single notification, -bzzzzt- your order of Company Inc. was rejected - would fix this entirely.

  2. We need a “reschedule” button. Order rejected? No problem: reschedule for tomorrow. From the activity feed, you click a button and you can choose to re-commit the same amount of cash (when available) to the same stock. This improves user experience a lot, and negates most of the “negative feelings” about rejected orders because you don’t have to do the whole process all over again.
    As a bonus, this could be done in a different time window. Maybe rescheduled rejected orders can be placed every day at 2pm (or any other time) for free? Or maybe 8am? (market opening)

Moreover, developers could include a small (?) button in the reschedule window: why was my order rejected? Basically every user has no idea of this being a possibility, and it’s scary. This way they could click the (?) button, feel safe and happy again and reschedule in one (or two) taps.

18 Likes

Think this is a great idea. Have had two rejected orders for the same ETF on consecutive days. Understand this happens but would be good to be notified ASAP especially as other basic orders went through.

2 Likes

This is a class idea. Indeed it is the only negative experience on freetrade and it is kinda ignored. I was speaking to someone new and she was a bit disappointed to say the least and wondered why she had been rejected. I explained it wasnt her etc. Having a forum post or a FAQ isnt enough and most people actually wont see it. The rejection feels personal. I’d prefer it was renamed maybe call it failed instead of rejection?

2 Likes

The suggestions are great, I particularly like the reschedule button idea. It seems from people’s feedback that a better word for ‘rejected’ is ‘unsuccessful’ as it takes out ‘blame’ somewhat from the user. Just a more neutral word to say the same thing.

3 Likes

Thanks for the suggestions! We know that the current experience is not ideal and we are working on making this better for everyone. In fact, we are about to start testing notifications to notify successful and unsuccessful basic orders :partying_face: We hope to have this live within the next couple of days and we hope this will solve some pain points :crossed_fingers:

9 Likes

Would it also be possible to include a brief description of why the order is rejected?

I just got the notifications for my basic orders being accepted. That’s… crazy! Thank you guys!

4 Likes

Great minds :slight_smile:

8 Likes

Just allocate more than is needed. If the ETF costs £152 and you’re doing a basic order then allocate £156 in case it grows

This advice only makes sense when you are buying a single stock, as in most cases (when you’re buying multiple stocks) it should just buy one less, so if a rejection happens there are other causes.

It does buy one less

+1 great ideas!

1 Like

Repost for those who aren’t aware and may be confused.

Order rejection - part of “best execution”, so it’s really the users who are getting protected.