I like alot about T212 but there is 3 fundamental questions I need answers to, perhaps 1 person can answer all 3 in one response:
What is with the lack of transparency in terms of what features are being worked on and what features are not being worked on? All it takes is a simple Google Doc that getâs updated once a week on a âread onlyâ pinned forum post so we can all see whatâs going on. This is basic customer relations, itâs not rocket science.
Why is there still no trailing stops for Invest and ISA accounts? This is another fundamental feature that almost all brokers have so why is it so difficult for T212 if everyone else can do it? There are multiple posts on these forums with people asking for this feature and as far as I can see there is radio silence from the T212 team.
Why is there limits on how high we can set a limit sell order within our Invest and ISA accounts? I really just donât understand this one at all.
nobody is entitled to know anything they are working on, however searching the forums will give you responses by many of T212 staff telling us what is planned and in the works, although dates cannot be held against them due to real world complications amid covid and rapid expansion of the platform. no company is going to make all their plans and projects public so their competitors can copy/rush there first.
lacks universal appeal.
not a core feature that has a high priority in terms of benefits to âALLâ clients. the vast majority of people with Invest and ISA accounts are not day trading and have no practical use for the feature, so it can wait until after more appealing features are rolled out.
imposed restrictions and suspicion of market manipulation
Interactive Broker provides T212 with their market access. limit orders are pending orders that still get fed to IB for processing. IB has a restriction on how many pending orders T212 can effectively have at any given time. specific numbers not shared. pending orders have an impact on the market too and when placed too far away can be abused to manipulate prices. the limits may get adjusted to better match the behaviour of a given stock, but they will never be outright removed so there is no point trying to place a limit buy of tesla at $1 a share, or a limit sell of GME at $10000.
Firstly thankyou for the response, I have more questions/ counter points in relation to your responses:
I donât think we need specific dates for anything, just a place where we can all see what features we can expect in the next X amount of time. When there is a service that people sign up for and want to see succeed, the people also like to know how the service they are signed up to is making improvements. If Trading212 are more concerned with thier competitors than with providing their customers with reasons to stay, then is that not an issue in and of itself? Nobody expects to know everything, just any crumb of inclination into whatâs coming would be a leap forward from what we have now, which is nothing.
If you have a look at this poll one could argue that every feature that appears above âAdvanced order types in Invest/ISA accountsâ âlacks universal appealâ, example: not everyone will be interested in trading stocks on the âHong Kong Exchangeâ. I donât find that to be a compelling argument given that the majority of other brokers have this basic feature as par for the course.
How do pending orders have an impact on the market and how can they be used to manipulate price? Please educate me, genuinely no clue on this one.
1 = I donât think weâll get the team to change their minds here, itâs been requested a lot in the past. I would love to know what the team are working on down the line, would be great to get little teasers now again more than we currently do. But in the current volatile market environment, I can understand why they donât want to commit to publicly maintaining a roadmap or similar.
2 = Yep Iâd really like to see a trailing stop added. Can see how many investors may feel it is not necessary for their investing style, but Iâd certainly like it.
I get the current times are less than ideal for brokerages given the mayhem, however in the future this idea could be implemented soooo easily. Even if they were to have a trusted member of the forums to volunteer do it for free, the team could send them en email, the forum member creates a google doc and it goes on the forum. The team then only have to provide a couple sentences and can put as much or as little info as they like, thatâs all we need. I just want to see where the ship is sailing as I think T212 has massive potential but progress has been painfully slow with features and exciting projects like ProQuant being binned.
My guess on (1) is that it is less about the time needed to literally update the roadmap, but the added stress and therefore time when conditions change and deadlines need changing or priorities need changing. Another suggestion has been floated that due to how competitive the free brokerage space is right now, competitors knowing what you are working on is really not beneficial.
Itâs a fine line isnât it, weighing up competitive advantage vs customer happiness. I like the fact we have options now in terms of low cost brokerages to use, competition in this space is good and will hopefully result in a better service across the board for investors like us