I use Trading 212 for day trading Nio and Xpeng. The first few seconds of the day are critical to buying or selling.
I am not shown prices on either Nio or Expeng for nearly one minute after US opening. I get current prices immediately with google finance but delays with Trading 212.
Are you locking me out to stop me making money on an early trade? This delay has cost me thousands of dollars and has only been happening since I started buying and selling on open.
Yeah no one is allowed to make money until i have had my coffee, I’ve got slow kettle be patient tho
Interesting 2 posts you’ve got - a pattern tho
Prices information are relayed directly via Bloomberg, T212 does not interfere in the data feed.
There have been a few discussions on price accuracy, and what it means to display a price, as this isn’t as straightforward as one might think; there isn’t actually such thing as “the one price” of a security.
Different feed providers will often display different prices, and may also have different delay in doing so. A retail broker such as this one will never be able to provide the “fastest and most accurate price” either.
From my personal experience, prices displayed here have been rather accurate and rather fast, beating many other sources; but even the great Bloomberg isn’t perfect in their public feed.
To expand on this point further; first, trades happen on multiple venues, and only roughly 40% of trades actually happen on the exchange. T212 is at a bit of a disadvantage, as they will only relay price information from the exchanges themselves; while prices everywhere tend to stay roughly the same, some other brokers will have a better accuracy by offering trade on multiple venues.
Furthermore, at any given time there are 4 prices that are generally displayed, none of them being more accurate than the others. The last price, being the last traded price (a price you will not get again);
The ask, the bid, being the lowest and highest prices anybody is willing to sell/buy a security, both of which are realisable by you;
And finally quite commonly the midpoint price, which is just the midpoint between the bid and the ask, for convenience of display.
Depending on the trading venues, the spread in the order book and between the venues, the volume and liquidity, there can be a very wide variety of price feeds, that will differ quite heavily. It’s just how it works
Finally, I am unsure to what exactly you are referring here; but if by any chance you are mentioning prices “spike” or “gap” happening in the first few candles (up to first 15minutes after open), if you are to place a trade after market open you will always get the ending price of such spike/gap.
The first few minutes of open are utilized to process all outstanding orders placed during the close of the market, resulting in such movement; but a trade placed after open will only be processed at the resulting price of all those orders.
If you weren’t referring to that, then nevermind
I am not questioning prices. When I buy from Trading212 I usually get the price I see. If Bloomberg hold prices up and they must because somehow google gets the price almost instantly, are Bloomberg playing fair? I have a colleague that worked for UK stock exchange and apparently if you are wealthy enough (Billions) you have access to an algorithm that is a fraction of a second before all other traders. Not sure if we mere peasants are in the same game.
To be clear the question really is why the sudden change in opening 212 when it was 15 seconds before I started day trading which is questionable in itself and now it’s nearly a minute
Does anyone have info on this?
Worthy of note here, all brokers worldwide experienced these kind of delay, especially with the US markets, increasingly in the last couple of years.
The NYSE and Nasdaq have been flooded with an unprecedented wave of retail traders, and while for most of its history order books were rather thin, they are now loaded with tons a small order coming from retail.
Last year it had became quite horrendous, lots of brokers and the exchanges themselves would easily freeze 15minutes~ on open; T212 specifically also experienced high traffic, and there was a while where it was impossible to login and the app would crash on market open.
Things have improved a fair bit since, but this could be in part still the reason of your grievance.
I doubt the whales have this problem. I guess the only way for the rest of us is to either take a stake and hold or don’t play the game.
Whales, as you put it, have a very hard time getting a good price; try to set an order of more than a few tens of thousands even on big cap companies, and you’ll face the dreadful reality of slippage.
“Whales” are forced to put their orders, buys and sells, over multiple weeks, sometimes months, with a high likelihood of getting terrible prices or not filling their orders at all.
Thank you again. I didn’t think of that!