OTC market order times

Why are OTC orders taking days on end to go through, it was not like this before, the past few weeks it’s gotten really bad, it’s nothing to do with liquidity as the share volumes are up day on day, with no limit orders unless you pay over a £100, placing orders has become a joke and you end up paying sometimes 3x the amount you placed the order at! I’m having to restrict the amount of money I hold in my account to stop the order making me pay more than I want to, if you want to place a pending order for number of different stocks, one order ends up using the funds set as side for another pending order (all placed days before), I know that these types of orders in the past used to take a few hours or roll over to the next day but it was never 3-4 days for orders to process? What has changed?

I also hope limit orders under 100€£$ come back. I am struggling too, since I like to average a lot, especially in these market conditions now

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Not sure about which delays you are referring to or what specific date of the issue was. (As there is no details in your post)

However please note, yesterday OTC market was closed.


The OTC market venue, in particular, has a completely different liquidity structure compared to the regulated market, more specifically:

  • Liquidity is thinner
  • Spreads are higher
  • There is no guarantee when the execution of the order will occur - regardless of the direction
  • There is no guarantee what price you will get if you place a market order.

Taking into consideration all of the above, as much as we would love to, we would not be able to speculate and provide you with any types of guarantees when it comes to potential time-frames for execution, as they vary and completely depend on each market. Therefore, it may even take a few days for some orders to be executed, especially when it comes to OTC trading.

Additionally note, that when you trade OTC, you are essentially trading with other investors, meaning that in order for you to Buy there has to be someone to Sell and vice versa. This means that once you initiate a buy order, the system will then start to look for someone who sells the exact amount of stocks, which you are looking to buy, and this can sometimes take longer.


Thanks for the reply, can I ask if I was to place a limited order at the new £100 minimum trading amount, would the order go through any quicker? There is stock volumes happening on the stocks I’m trying to buy, I’m just wondering how they are executing where as mine are not ? Thanks again

I’ve tried setting limit orders (above the $250 limit required) for over a week on QUBT and every one is cancelled instantly. I’ve a market order open since 11 February as well.
According to a post I’d seen on the T212 reddit group it seems to come from T212 not trading off-book, whereas most other brokers do. That may or may not be true though.

@random53 It appears IBKR has restricted trading QUBT. We still are not aware as to why but until then we’ll suspend the instrument so that no orders can be placed on Trading 212.

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Thanks for the update.