Yesterday’s DDOS attack had big implications on my account. I am getting nowhere with chat and today I have lost hundreds of pounds due to the ongoing ramifications.
Is anyone able to advise on the matter please as I think I should be compensated and also, add a comment if you have had issues because day traders and swing traders have suffered and we need this rectified.
It is not good enough that we weren’t able to access our accounts - market orders we placed and which we would have monitored live were not visible or possible to close.
Please refrain from commenting unless you have some genuine help and a personal experience.
Please refrain from being on your high horse. I don’t do stop losses as I like to monitor my account when the market opens. There is nothing wrong with that. Reserve judgment please. Your comment isn’t helpful.
You cannot ask for compensation for orders that are not executed. What is your argument about losing hundreds of pounds? You probably say this based on the prices you expected your orders to be executed. But unless your orders are executed and the provided price is not the best available price, then there is no basis for your argument here.
I don’t answer here for the sake of arguing with you, I don’t have any benefit for doing this. It is not nice to have service disruptions and not being able to put orders, buy/sell stocks when there is a good opportunity. But T212 does not claim to provide service 100% throughout the year. Actually, cloud providers such as AWS, Azure also cannot claim this. All these services including Trading 212 aims to have least possible blackouts, but it is not their claim to always provide a working service with immediate order executions. Order executions can take time or you cannot even reach the service to create orders, but as long as your orders are not wrongly executed (at the execution time, not according to the order creation time) Trading 212 does not have any obligations for a compensation.
it wasn’t a DDOS attack yesterday. it was a global meltdown of the trading system led by the US exchanges. ALL online brokers suffered a similar fate, so, it won’t just be you having these issues plus definitely not T212’s fault yesterday
In metaphorical sense it was denial of service everyone and their mothers wanted to log in to join the rally
lol, and now we have a downward rally
7.4. Subject to clause 7.5, we shall not be liable for:
7.4.1. an event as set out in clause 25 “Force majeure”;
7.4.2. any failure by any counterparty, intermediate broker, bank, custodian, market or market operator, exchange, clearing house, depositary or other third party with whom you do business;
7.4.4. the failure of any third party trading systems, software or services not provided by us;
7.4.7. temporary technical difficulties or circumstances that make it impossible to carry out transactions on a given market and produce quotes, unless caused by our breach of this Agreement, negligence or wilful default.
OK Alien that was helpful. Thank you.
Here is my reasoning, if people will understand.
Momentum in ACB yesterday. Order executed. Was going to monitor to sell at best price. No access. Couldn’t sell. No stop loss as I wanted to have a short trade and watch the candles. Impacted on other stocks. Lost a lot.
Ohh someone said it was an attack somewhere yesterday.
I understand, I was in the same position and couldn’t close my open positions when I needed to. However, I will not waste my energy trying to claim something back from T212. If it becomes a recurrent issue AND it is specific to T212, then I may look for another platform.
You would have a stronger case if you had stop loss/limit orders that you could show had failed to be acted on.
In your situation I think @Alien is correct ie you can’t demonstrate the scale of your losses as you can’t show at what point you would have sold. Plus the T&C exclude technical issues.
Good point. Though it also happened last week.
I’m just feeling defeated as I’d just got the account straight and under control. They aren’t interested anyway, but I’ve lost practically everything. And I’m not a big account holder or rich. I have no assets…So deflated.