Missing 200 euro from my account after Server Crash yesterday

[cwavedave]

Before the market opened yesterday, I deposited 750 euros into my account to buy AMC stock. The stock was worth approximately 4.18-4.69 at the time.
As the market opened, I sold an additional approximate amount of 200 euros worth of stock and moved it into AMC. I have a screenshot at this time of my portfolio being worth 1561.20 Euros (includes all other stock, none of which net change came anywhere near - 200, stayed mostly neutral overall).

The server crashed for at least half an hour, when the stock went live, you had purchased 45x AMC stock at 17 dollars each.

For those who need the maths - 45x 17 = 765. Which is a substantial shortfall of the stocks I had sold to move around. As confirmation of what I already knew, the total portfolio balance was around 200 euros short at around 1,361 euros. The money is not in my bank, it’s not in another stocks. It’s gone.

As the day closed, despite the balance of my current stock being profitable and + 100 euros, I was still 100 euros short of my portfolio prior to the server crash.

Trading212 has not only cost me money by purchasing shares at nearly 4x the value I ordered at, they have cost me money with the website crashing throughout the day at key trading intervals has not only cost me money in time because of that but you have STOLEN money by it disappearing without notice from my account.

I sent an email with the screenshots and have heard nothing back.

Get your act together.

[phildawson]

@cwavedave

Before the market opened yesterday, I deposited 750 euros into my account to buy AMC stock. The stock was worth approximately 4.18-4.69 at the time.

You don’t get prices in the past. It opened at 17

[phildawson]

To add to this all this happened between the previous day’s close and the open.

[Vedran]

When you sell your stock. Portfolio value decrease for the amount of shares sold and is released as free funds.

Account value is net neutral on buying/selling of stocks, it is impacted based on stock returns and deposit/withdrawal.

So what you actually need to check is account value total, the money doesn’t just disappear, certainly not stolen.

[cwavedave]

I think you’re missing what I’m saying and need to more closely examine the maths here.

I bought 750 euro worth of stock in AMC in pre-orders from a deposit. I still have that.

I sold 200 around euro worth of stock from other stock. It became free funds, I moved that to the AMC stock about 1 minute before the system crashed, so I should have 950 worth of AMC stock at opening time. I did not, I had less than 700 because it was trading around 16 dollars. My portfolio / account value prior to the system crashing was worth 1561.20 euros. At market close with profits on everything, it was worth 1461 euros with +100 on AMC. Explain that.

At Market close, the stock was worth over 19 dollars. So I should be UP money if the stock was all purchased at 17 dollars. It could be a database error from the crash, but the point stands. I’m not thick, I’m down 200 euros from TD212’s crash.

[Cashurkash]

You’ve purchased at market price though right? If so, you purchased after a huge gap up on opening. That’s the market not T212

[cwavedave]

Please read my last reply.

[Cashurkash]

Can you screenshot the history as it will show you time and price of executions

[Vedran]

Value depends on bid /ask
So telling me you bought 950 worth of AMC doesn’t mean diddly squat, you have to examine purchase orders, total amount of share owned and at which price.

What those same stocks are worth now is up to market not t212.

[cwavedave]

Screenshot 2021-01-28 at 11.24.40|334x500

!

I didn’t cancel, nor did I sell any AMC stock. Though I understand this is because of the price the market was at the time they decided to buy. Though most other brokers, canceled the orders instead.

Point is my total account balance is still down money without seemingly any reasonable explanation that I can find for it, given that none of my portfolio adds up to a -200 loss and the biggest ‘gamble’ is the AMC, which is +100

Portfolio Before Trades went through
Screenshot 2021-01-27 at 15.29.18|327x380

[Cashurkash]

I don’t want to add my thoughts into this as I don’t want them taken the wrong way or misconstrued. Give @Team212 a shout and hopefully they can get it resolved for you. If it’s an error they will resolve as happened in the past for me and I was reimbursed.

After just seeing your last pic it looks to me like your account didn’t have the value in it to make the purchase created at the time as you had funds locked, value of account was €1,500 euro and an order was executed at market price that took that over the funds available.

[red]

Looks like you placed a market order for 175 AMC at the previous closing price of $4.xx which got filled at the opening price of $17. That put you in negative funds so the system then sold 130 shares (presumably at less than $17 due to bid/ask spread) to balance out your account.

If you look at the price / outcome of the 130 amc sale that should reveal where the loss comes from.

I’m not a fan of the way t212 does that but it is a harsh lesson about market orders on a volatile stock.

[cwavedave]

I have checked and I think I see the issue here.

They bought

They bought instead of cancelling, the amount at $17, then later in the day. They sold that stock at $15. Costing me, the difference.

[Cashurkash]

Yeah seems that’s it. Give them a shout see if they can do anything about it as the negative balance isn’t a fault of yours

[phildawson]

I’m going to need some coffee.

So you bought 175 shares at $17 which cost you 2465.75 euros based on 1.20652 FX

You then sold 130 ?

[Vedran]

I presume it is the auto protection system, as you do not have funds to purchase 175 stock at 17$.

Not sure how T212 looks on this, as you placed market order and not limit. So you got best available price at market open.

Bottom line, you need to educate yourself before putting real money in the market.

Placing market orders on market open for volatility stocks can lead to serious losses due to purchase at exuberant prices, which can immediately drop.

[cwavedave]

Hey Phil,

If you read my comments, you’ll see I didn’t sell or cancel anything.
Anything that happened after was TD212 doing their own thing, over purchasing instead of canceling the order.

They bought the original stock quantity at market value when they decided to enter the market / place the order instead of canceling the stock etc. They then sold the difference at market value a minute later, which had dropped from 17$ to 15$

So if this was traditional maths the difference would be 850 dollars (700 euros (still short) between what was bought and sold. However, I was left with the 45 shares at 17 dollars - 765 dollars = 631.48 euros (roughly).

Long story short. My account is down 200 euros on account value from before they executed the trade and I’m still trying to work out exactly how.

Before

After with +100 in profit.

To say I’m cheesed off with how TD212 handled the events of yesterday, would be a slight understatement.

[cwavedave]

Thanks for the reply

[red]

I’ve already explained why it happened.

The market value didn’t drop from 17 to 15 - that is the difference between the buy / sell prices.

[phildawson]

I’ve now had a coffee and understand (I think)

You then sold 130 ? Sorry so the system sold to protect against a negative balance.

So T212 placed your market order to buy 175 at the best ASK

The best ASK on open was 17 and it filed the 175 shares wanted.

T212 then had to put in a sell order immediately for 130 because you didn’t have the funds.

You only had funds to buy ~45 at 17.

On selling you get the BID (sell) price which was 15.

130*15 = 1950 dollars or 1616.12 euros

So 130 * 2 (lost on the spread) = 260 dollars (260/1.20659…)

so the 215.58 euros loss looks correct to me.