I have a question on why the platform does not provide a buy or sell price at the time of placing a trade. I have seen other platforms that provide a price from the exchange and a time limit of 15 seconds within which to place a trade. I placed a buy order for EQT on LSE this morning with a limt at 2.05p. This is my 1st trade. Also, the platform limits the trade to max 95% of total amount available, why is this so? Thanks for clarifying.
I believe the platforms that give you a guaranteed price for a number of seconds are using market makers to fill your order rather than sending it to the exchange. 212 does not do this so that’s why there’s no guaranteed execution price feature like you describe. Although you can of course use limit orders.
The 95% thing I believe is to protect you from a negative balance in case the price moves significantly after you place the order.
Cheers Ryan, so are we saying that on T212 we are potentially getting a better price as it is direct from exchange. Just for my better understanding.
Would you also know if there is an option to set up a trailing stop loss.
No option for that, it’s been requested many times though
Hard question to answer on price, for the order size most of us do there’s probably no difference. Noticeable difference will likely be with order fill speed, market makers will fill instantly even on illiquid LSE stocks whereas trading those kind of stocks on the exchange you can be waiting longer for a fill.
Many thanks Ryan for the feedback