Gutted! Put a stop loss in place for about £3 and the result was over £9!! How is that supposed to protect my losses?! Is there any way of getting a reimbursement? It seems a rather steep slippage.
I feel your pain believe me. Did it happen upon market open for a position held overnight or did this occur intraday?
Have you had a look around elsewhere too for similar price movement of the instrument?
Hello, Thank you for your reply, I appreciate it. I haven’t looked around but as Investing.com showed a small premarket increase, I decided to put the stoppage in place. It’s just the gap is huge and I thought they gave you the best price, which would have been the £3 odd.
I’ve had a similar problem using this broker too but the spike I saw here when it concerned my trade wasn’t seen anywhere else and I checked multiple quotes elsewhere. Also the spike only happened in the first minute of the trading day and it was over $10, all of the signs pointed to something going awry here as opposed to my luck just being out, this is why I ask. If you feel something has gone wrong then provide details for them to investigate for you but if you are happy that the price was as shown so are in agreement that you should have lost but your only complaint is the amount lost (as opposed to you losing period) then unfortunately that is just the price of trading without a guaranteed stop.
I’ve asked before if guaranteed stops are a feature offered by the platform but my thread got no replies so I stil do not know but if it is offered it must be someting you need to activate or something because I haven’t been able to access it at all.
We do not offer guaranteed stop loss.
Thank you (that was quick lol)
@IsabellaBear That’s because of a market gap. We can’t execute a stop loss on a price that’s never been reached. The price of Coty went from 3.6 to 4.04 in an instant, one to the next. We can’t execute a stop loss at a price in between. There’s no such thing as a guaranteed stop loss, anywhere, that’s just not how markets work.
Still, your order was filled at a BUY price of 4.04 which is the opening price, the best price we could possibly get after markets open. Please, let’s not confuse this with slippage as it is most definitely not.
Oh that is very frustrating!!
I’ve also noticed lagging with priced which has caused losses when closing trades, this is annoying too.
I’m not really happy with the customer support feeling out of reach and am looking to other options.
I lost a lot with Plus500 due to inexperience, but at least their live chat was always available!
Yes, it’s a shame they don’t do a guaranteed stop and it’s worth me looking into - thanks.
Yes, the prices can be out. I’ve taken screenshots of other scenarios and I’m really struggling to make sense of the lagging and prices.
For example, the buy price drops when the chart goes up. Surely that’s wrong.
It’s a shame, as I want to like 212.
Hi George, true, but you are supposed to offer the best market price, which in this case you didn’t, I don’t believe.
Thanks for your reply, curt as it is.
We did, as David explained
Ahh, thanks for explaining that.
The customer support hasn’t met the standards I expect either but I only began using T212 after the pandemic started and so I haven’t been able to see for myself that the service levels are better under normal conditions and because of that I am trying to be more patient than I would be normally as it’s only right in my view to give them some berth, I used to do a similar job and I know what it’s like when everyone’s off sick and the customer enquiries are backed up to the wall.
I like T212 on the whole though, more goes right than wrong for me at least (for now lol) stick it out I say, it took me 3 months of research to settle with T212 and 1 other, there are some horrible alternatives out there.
I think there was a delay in you seeing my respo seeing my response to David, who I felt was curt.
Anyway, IG do a guaranteed loss, so I just wanted to put that out there as you advised it wasn’t an option anywhere.
But, I’m satisfied by your answer…thank you.