This isn’t fair, I don’t want my orders to execute anymore! I’ve been waiting for an hour, the money I have in there is absolutely important to me and I feel completely trapped! I’d cancel my orders now if I had the option too! Completely unfair how you have no control of what price is executes at… you don’t pickup something from the super market shelf and get told at the till that the price has gone up during the time it took you to pay for it! Sort this out I beg you!
Complain to trading 212. If they do not compensate you, file a complaint with the FCA. They will pursue compensation on your behalf and possibly even fine trading 212 for failure to comply with the FCA rules and regulations.
@Belle compensation is determined on a case per case basis and you possess no information to support that statement. that would currently constitute misinformation.
What is the maximum timeline before we can abort the order and where we can claim compensation from FCA?
I have few orders executed late and I lost money!!
I lost money last week on Friday because of it, but I found a trick to stop a buy order!
If your buy order is pending and you want to cancel it, just transfer your funds from invest or ISA into CDF and it’ll automatically cancel your pending buy order due to “insufficient funds”
It’s not going to replace my lost money but Atleast I’ve STOPPED having a panic attack now! Hope this helps people! But frankly, Trading212 should have given this solution
I think that might have a tax implication.
@Ahmet as you mentioned ISA, I will point out that isn’t a “solution”, that is a work-around. due to ISA’s nature of restricting how much you can deposit in a tax year, it is not so simply possible for people to move funds out of it just to prevent a the processing message. Others are looking at withdrawing funds entirely, which is also not a solution in that those funds will only go back towards their source and isn’t viable for those funding by credit cards or with old accounts. the funds will also be tied up for however long it takes you to receive them and them re-deposit which can be days longer than the initial system issues.
For the above reasons, T212 would not advise people to do either, though it is in your own freedoms to do so.
good to hear your aren’t panicking anymore
Yea I have just this moment thought of that, luckily I use invest so it hasn’t affected me, but you’re right, anyone using ISA be aware that it may affect your tax
Thank you for bringing this to attention! I agree with everything you’ve said! I think Trading212 need to make some public announcements and solutions instead of us customers chasing around for answers!
The notion on their website. They agree to confirm with FCA rules and regulations. Have a look at FCA’s website to see if trading 212 meet their requirements.
Theres already a topic open use it
T212 do meet with their requirements. Even now. FCA regulations are levied against platforms as a whole and go on a much larger scale than an individual event with an explained cause and that is actively being handled.
I have seen people claim they will go to FCA because of the “Slow mode” as part of their argument, and how T212 is preventing them from filing complaints in doing so when:
a) there is a official route to do so which is not the forums
b) I as a community member, not a member of the staff in any form, enabled that forum feature before todays issues occurred.
most of the complaints FCA will receive today will be thrown out of the window because people don’t understand what the FCA will or will not uphold and pursue. you can go to the FCA when T212 fails to uphold its obligations. not via the forums, but via the official route. so if you don’t go the official route to file a complaint you haven’t made an attempt to allow T212 to follow protocol.
My orders were executed too late and I had no control of it, because of this I lost more than £1000 today!! so annoying
That’s why I only sell and buy with limit orders. Never OTC. Put the price you’re willing to pay and if it’s at the market price… Move it few pences either way and it an order .That way you have complete control of how much you pay our sell.
Trading212 should give this option.
I have lost many because this option is not available. Orders were excuted after a long and the price of instruments was much lower while selling and higher while buying.We lose profit on selling and pay much higher price in buying specially in high volatile penny stocks. TRADING212 SHOULD HAVE THIS OPTION TO TAKE CARE OF SMALL INVESTORS.
the moment the order is being processed, those funds will be blocked until excecution rt? So will transferring fund work?
Not quite. I’ve had limit orders that I couldn’t cancel with price going up well above my limit price then falling way down below. Eventually it goes through at my limit price despite it being 30% below that at the time the order finally processes. Clearly I would have cancelled it if possible whilst stock in free fall. Cost me £100 on a £300 order. That’s quite a chunk. (It was processing for a bout 30 mins)