Possible service disruption

Bro, stop using t212 for this. T212 works in a same way as robinhood.
short explanation here: Why Robinhood Blocked Gamestop. (Full Explanation) - YouTube

therefore its nearly impossible to earn profits during high volatility…
Just change the broker, t212 is rather for building portfolio, buying and holding it for a mid/long term.

The main issue I faced is the website going down so I couldn’t get an order dialogue to place the order to sell. By the time I could the price had dropped from 20%+ into negative.

That was due to system resources rather than third parties.

The charting (quotes from Bloomberg) doesn’t matter as much it’s just indicative but always nice to see a candle, rather than looking elsewhere.

IB does the trading, which was fine at the time.

I’m hoping @David finds time to respond. It’s rather painful knowing you have hundreds of profit but no way to bank it.

No lol. It really does not.

  • T212 does not use market makers to fill orders
  • T212 does not sell orderflow
  • T212 does not offer options trading
  • Robinhood does clearing inhouse, T212 uses IB as an intermediary

Honestly other than being commission free brokerages, your statement is totally off. Let me know if I’ve misunderstood what you meant, which I may well have done because I can’t see anyway it makes sense otherwise.

Also it seems to me that video is just peddling a hedge fund x robinhood collusion conspiracy? (although I didn’t watch it all the way through so could be wrong). I thought it was fairly well reported by now that the basic core of the issue with RH was that they didn’t have enough cash to deposit at clearing houses, hence why they had to draw on credit lines.

3 Likes

BSQR should be getting pumped again on Tuesday.

What’s the chances the site is unstable on US open? :see_no_evil:

Hopefully very low, I have a shopping list and about 5 minutes spare at market open to buy :grimacing:

1 Like

Come on Bloomberg I want quotes at 8:00 today, thanks. Not at 2:36pm

:eyes: KEFI

:crossed_fingers:

Quotes aren’t right, GGP should be 23.25 and 22.75 bid.

The app showing a fake zero spread.

Another example for here :see_no_evil:🤷

Well I’ve finally had an answer emailed to me.

Its basically a if our service isn’t available then you have to suck it up.

So £600 :wave: and hello -£200 loss.

We are truly sorry for your loss, however, the point has been covered in our Client Agreement, which you have consented to prior to creating your account.

6.4. You hereby agree and acknowledge that in the event of downtime of the Trading Platform You shall waive any claims against Trading 212 of missed profits and/or claims that You would have executed an order on a specific price during the downtime. You acknowledge that sometimes there may be technical issues or faults with the Trading Platform.

Thank you for your understanding. Should you have any further questions, please do not hesitate to contact us.

So they can’t be held responsible if their trading platform goes down, or if Bloomberg quotes are wrong, or IB stops working, or they put ineligible stocks into ISA, or if they put stocks into close-only mode.

Basically all we can do is nag them to make changes to make sure that for US open the platform is stable or say goodbye :wave: and use a different broker.

Isn’t this the same in all trading platforms? I remember seeing something similar directed at think or swim when they were having problems after the US election. Seems sensible from a broker perspective to have this kind of clause but would be interesting to know if it’s as common as I’d assume.

2 Likes

It’s most likely the same, from a brokers perspective they would want to have zero responsibility (or as close to zero as legally possible)

Its definitely the case for third-parties as you can’t control their actions.

I’m not as sure with regards to website/service going down.

I’m not sure about the having the wrong stocks available either, like in the case of NIO appearing on ISA, and the recent non PSE appearing on Invest. I assume they can throw it back at the client for not knowing rather than take any responsibility.

T212 appear to payout when they cause large pins on CFD which shouldn’t be there.

There seems to be a grey area where as an example a stock should have been green and it was showing as red. As its Bloomberg data and T212 don’t mess with it I have to assume its Bloombergs fault. But I can’t go to Bloomberg and say what the f.uck are you doing you are costing me money by showing the wrong indicative prices or prices from two weeks ago, and T212 can go well its not us.

I like T212 and I don’t like giving @David and co a hard time, because they are just doing their job. However I do wish as a business they get it together and fix the US downtime issue and sack off Bloomberg. After a year of me campaigning I still feel like its on deaf ears.

And it’s so important we have the correct current indicative ask and bid showing, and the charts not magically disappearing under load, so it isn’t unnecessarily costing the retail clients thousands of wasted pounds.

In summary (NSFW before you click it)

Hi Ryan, yes I still have a Halifax share dealing a/c with shares active and deep in the implied contract which I just re-read is the same clause effectively i.e. when its not in the dealer(s) control that Halifax use it’s your problem and you take the consequences as such. There’s a complaint process handily pointed to as well if you don’t agree!

1 Like

Hi Phil, re:

And it’s so important we have the correct current indicative ask and bid showing, and the charts not magically disappearing under load, so it isn’t unnecessarily costing the retail clients thousands of wasted pounds.

Can I ask do you have an alternative price/charting method you use to compare when problems happen on T212 updates i.e. if T212 doesn’t show data do you see the same problem elsewhere at the same time?..maybe I’m being naive but I can’t see Bloomberg not giving very reliable data out (they are just too large)…could it be more the way that data comes across to the UK and gets integrated through all of the T212 system(s)…apologies if answered on other posts.

You would have thought with Bloomberg being as large as it is it would have one of the best data feeds on the planet.

However it has issues matching its own Bloomberg terminal output. These have been confirmed.

The main issue is with LSE and especially AIM stocks, but it also affects US stocks (esp after halts resume).

My main comparison tools are ADVFN with trades and WeBull which has L2 and the tape so I can see whats going through.

When I’m looking at the ASK/BID on T212 vs other brokers my main go to are HL and AJ (as they have raw spreads and easy to check)

If you are really bored I have a thread I call the “Bloomberg thread of doom” where it’s all documented. Basically I’ve been campaigning for over a year (way before that thread) after trying to trade KOD and finding the SP was sometimes about three weeks out of date whilst other brokers all had the same correct ask/bid the second it changed.

The last “fix” that @David mentioned that Bloomberg implemented was about a month ago, but it didn’t really do anything.

I still didn’t get back a decent response about exactly what was said to Bloomberg in reporting the issue, nor what the improvements were (if that were just T212 improvements) etc

I’m waiting patiently for @David to respond nobody else seems want to get involved.

If anyone knows of another broker that makes use of the same Bloomberg data feed API I would love to know. Would make it very easy to see if its a secret T212 issue or Bloomberg itself.

Ok Phil, many thanks for all of that info., I will certainly look at those other feeds. I don’t trade nearly as frequently as yourself & others but it’s obviously so critical to have accurate data, thanks again :+1: