order excution is extremely slow at the opening of the market

This afternoon I have submitted a sell order to Teslla at the price $380.00 in 14.30 and the order placed in pending till 14:44 and executed in $377.00!

Due to the delay Instead of getting around $30.00 profit of ~ 7 shares I only received $9.70!! (Order id is EO426562051). This is not the first time I loss money due to delay in order execution at the opening of the market in this month…

Guys, you need to work to solve this problem as soon as possible!!!

1 Like

It wasn’t 14:44? It says filled in 6 minutes 14:36, T212 don’t control this btw.

If you had a limit sell instead you could have guaranteed it would have been at least $380.

I can see that fill on the High of the 14:35 candle.

That’s a common issue, too many orders are pending at that time - hopefully it gets better in the future. They are working on it.

Can you post another screenshot of the bottom of order/execution details? I want to see the execution platform.

Hi phildawson
Sorry- I was not sure about the delay. Yes, it executed at 14:36 and took 6 mins to fill the order at $377.00 instead of $380.00. I believe a big stock like Tesla has always high volume of buying and selling all the time. Before it was just taking a few seconds to fill the order at the opening of the market, but now it a common issue!

Times can vary, it’s not T212 that control this btw. The first hour (and last hour) you can alway find these situations.

It’s normally not a good plan to sell on open. And normally only a good idea to buy on open if you are very confident on a bounce.

If you are selling a market sell will literally be the best going at the time it gets executed so really its a case of limit sell if you want to lock that in. Obviously theres no guarantee it’ll come back up to fill your order but with TSLA anythings possible. Like it should have been pushed back to $270 and its gone back to $400 with the amount of fans it has.

I think @saifali wanted to know if it was filled TOTV

Trading type was filled OTC

T212 does control this unfortunately. Because they are the ones piping these orders to IBKR api. I use IBKR and there executions are phenomenal even today.

Any stock, literally any stock, has the highest volume when the market opens. And for Tesla there is no question whatsoever. To sell or buy at open has its pros and cons.

As I can see the OP did a market sell, which should be instantly executable at whatever the market price is at that moment is. I think T212 should do a better job here and not execute such a fluid stock a full 6 minutes later. It is Tesla and it is super bumpy.

And then later just executing it as OTC tells me a different story, if they had to execute it OTC, they should have done it in the first minute and not wait for the market order.

1 Like

It’s very slow still, order submitted 16:08 and filled in 16:34 - just averaging down for me so not critical…

It happened to me once. Market order was pending for like a minute or something. It’s true it’s a pain in the butt when that happens. I’m pretty sure it’s due to a lack of server capacity when too many people are operating at the same time…

1 Like

Unfortunately, the problem here is you sold via market order. that delay is just what happens and the result is entirely on yourself during a very busy period of trading.

Sorry, I disagree with you! The 212 should not take market orders and filled as OTC after 6 mins!!! Instead, they should do a better job by either filling the OTC order within less than 1 min (if possible) OR they keep the order pending as they could not fill in near by submission time/price.

the process is automated and handled by the system resources available. T212 does not manually pick and choose what or when your order is completed and T212 did not mark your order a market sell. market sells are the fastest sure, but they only guarantee it will sell, not for the price shown at the time you clicked the button but when it is processed. so your shares sold once processed and that’s what happened.

It became OTC because that was the best available price the system was able to find for your order as it was processed. Doesn’t help you chose a very volatile stock.

you can disagree, but the fact is you made a market sell and left yourself open to whatever happened next. perhaps consider a limit sell next time.

If you think better can be done you are welcome to provide suggestions on how to achieve this. A lot of work goes on behind the scenes to constantly improve the quality and speed of service provided to all 600,000 clients.

I’m aware T212 is using IBs SaaS underneath, they have previously pointed out they are on the highest service available.

As you say they are just putting in the requests that is all. They can improve their own servers to increase resources.

It’s still a market order, OTC is just an internal trade inside T212. Theres no guarantee it’ll be in the first min.

That’s not how a market order works though, it’s literally give me the best price at the time.

I agree though it does need improving and it’s frustrating when you think it should be instant and it’s not.

1 Like

@mr.alhendi This seems to be an isolated case. We’re investigating why it happened.