Why people couldn't buy GME and AMC on Thursday

I think this is sarcasm, but the DTCC does require deposits in cash.

So, amusing as the mental picture is, I guess there probably were trucks and people involved in shovelling mountains of cash from one vault to another.

Hereā€™s WeBullā€™s CEO explaining: https://youtu.be/4RS4JIEVyXM?t=291

what about my post, why was that flagged? Are you the community too now?

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Thanks for the explanation AlexK. But do you not think that as a financial institution T212 should have planned for and stress tested these types of scenarios as part of the business model?

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Because itā€™s offtopic.

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My understanding it was IB that faced these issues not T212 itself.

Remember T212 use IB as their intermediary, meaning they just pass your orders onto IB who handle execution etc.

Jesus. T212 I really feel for you. Looks like the age of disinformation is continuing outside of Captain Orange leaving.

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Site down for anyone else?

Is this going to be a daily occurrence now that 212 crashes every time the US market opens?!

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Yeah T212 have no excuses this time. They knew this was going to be a high traffic day

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Iā€™m unable to buy anything right now on the desktop

I am embarrassed to have recommended you. Clearly canā€™t handle it

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Thanks George, appreciate it. Sorry about making a fuss but it gave me the wrong signal.

For me personally, trading 212 is making a difference when it comes to proper retail investing. Last weekā€™s occurrence is an anomaly and a lot of platforms suffered. Iā€™m more than happy to ā€˜lose outā€™ on a 300% increase in a particular stock as my goals are not short-term, but can understand the frustration of a few. The benefits far outweigh the pitfalls. Not taking names but for me using traditional platforms means that just on trading fees, Iā€™d spent 10% of my deposit - for years this put me off investing. But platforms like trading212 provide small investors like me an opportunity, a door to the investment world.

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Iā€™ve read a good article. Might come handy. Itā€™s good to watch others make mistakes and learn from them :slight_smile:
https://techcrunch.com/2021/02/01/5-rushed-ux-changes/?guccounter=1

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Agreed, I can only do very small investments myself & fees were limiting what I could do. Itā€™s certainly an easier way in to the investment world, good job T212 & lets stay positive for the future :+1:

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Hey Matic
sorry to join the discussion late. T212 is one of the best EU platforms.
I use it and like it. & I am a hypocrite for this now.
just heard a Radio story saidā€¦(not Bloomberg radio ā€” they donā€™t mention important stuff like thisā€¦ :thinking:)
ALL these guys sell our order flows to hedge fundsā€¦ [for money]. Like RH, Facebook etcā€¦ What positions you hold are commoditised. Hence free to trade.
What orders you place are known to big players and they work around to crush you.
Either way retail is gonna lose (on average)
GME , AMC today / tomorrowā€¦forget it. little guy is gonna lose out.
The regulators are light weightsā€¦ they get fobbed off [bought out] by the people with money and influence. [regulations are stifling the marketsā€¦ blah blah.]

Play an be prepared to loseā€¦ the odds are stacked against the little guy when our orders are known to people who have more money to crush your position.
lets hope this administration is a little less corrupt than trump and something gets legislated. Naked Short selling is a typical kind of abuseā€¦ and regulators do FA about that.
just donā€™t forget that when you open a position - big money is gonna out game you :wink:

Thanks for that post. I had an interesting root around to read articles about this. I had not previously appreciated that information about retail order flow might be bought or sold with a view to using it for front running. This is different to selling the order flow itself.

However, I am not sure that ā€œbe prepared to loseā€ is the right conclusion. My stock investments have done well despite these factors. I suppose this warning is not for me, but for retail day traders hoping to make fast and extraordinary profits in special situations and highly volatile stocks, as we are seeing with GME.

Hi , a leader badge means you are more experienced than most participants in trading.

Yes, it is different to Front Running but you agree that the order is sold off? someone is buying my positions and going to make money knowing what positions I hold by pushing the price in the opposite direction. Hedge funds have deeper pockets than me.

As an FCA company it should be in bold and clearly stated this taking place.
(not some tiny weeny, small print statement - not sure its even declared at all)

Flash boys is old news now and Front running (scalping our trades) been going on now for decades - regulators ineffective - Big Asset managers donā€™t care- So there is jack all we can do about it unless we manage to build a house outside the exchange.

but exposing our order flows, and to whom? let me guess to someone benign - thatā€™s just downright deceitful.
With my Investments Iā€™ve made some also and lost more with my leveraged order flow (no doubt sold off& thatā€™s why)ā€¦ so I stand by my ā€œbe prepared to loseā€ statement as the odds are greatly as against you as trading on a ā€œfree platformā€. Think FACEBOOK, GMAIL, YAHOO etcā€¦ (basically it ainā€™t free)

Despite my gripe, I really like T212. Smart techies with great reliability.
If they offered a paid for service with guaranteed anonymity and perhaps charged a few bucks per trade, id be the first to join in.

btw the article was on our beloved BBC business program - so thank you BBC and not the platform for informing me the my order flow is sold to a hedge fund.

But do you have any actual evidence that information about client order flow is sold by Trading 212? I expect not, and that the BBC programme did not say that. Did it?

Ok. My evidence is a BBC report about so called ā€œfree trading platforms like thisā€ examples are FACEBOOK, Google, YAHOO, etcā€¦ If you can explicitly declare that retail users order flows on Trading212 are strictly kept private on this platform and NOT monetised (as is the user perception & not the reality) let the world know how good T212 is & I will bow before you.
This post shall forever be around and in fact get listed in your searches so people like me can go away and trade freely & with a smile.
Say it now, Leader, you have the chance to write it.