That’s the opposite of an improvement. Just reduce/abolish the minimum.
A new charge could do more bad than good, as there are other brokers with free limit orders and also no minimum investment amount, especially for non-UK investors, as the ISA advantage became irrelevant for them, rendering T212 less competitive vs. other brokers.
The 100 USD/GBP/EUR are an acceptable amount for limit orders, for less than that, people can use market orders, if they still wish to have limit orders, they have 2 options, rise the investment amount or could pay an extra for the privilege (“unlimited limit orders”).
It wouldn’t be fair to charge all investors for limit orders, because some people want to have limit orders for less than 100 USD/GBP/EUR.
There are some stocks you can place sell/buy orders for less than £100. I am so happy ive discovered these, not sure why/how they’ve sneaked through, I would let you know what they are but i have a sneaking suspicion someone would change it after reading this hahaha
My main problem with the whole £100 thing was to do with US market opening small amounts creating a bottle neck and suspicious behaviour. Which is fair enough, but then i think they should have exempt say anything that doesn’t trade US market hours.
Anyway 212 said that when they introduce limit orders on fractional shares thing might change! So that would be nice of them and highly appreciated
Acceptable for whom? If you want to stagger purchases across the entirety of a dip with relatively smaller amounts, £100 minimum makes things range from highly awkward to unfeasible. Like you said, some people want to have limit orders for less than 100 USD/GBP/EUR. And using market orders instead is a poor makeshift solution.
- And are they willing to pay a fee for this?
- Or want it for free?
- Or should all investors pay for this, so some people could make limit orders with less than 100 USD/GBP/EUR?
When people signed up to T212, the condition was, limit orders started at 100 USD/GBP/EUR, so if someone wants limit orders below that, it’s another condition, an extra service, and like as all other extras there must be a extra payment. The people who wants extra services should be them who pays for it. T212 is a for profit institution, as it should be, to be able to operate, for the sake of them and their customers.
Dear David. As stated above, I understand this is only for temporary issue… The issue has been going on since Feb 8. Is there any time frame when this issue will be resolved ??
I understand there should be a minimum limit order but the limit of $100 is too high for retail investor. When I signed up the T212 account I could place a limit order without minimum limit. But this sudden change in the middle of the game prevent people to do dollar cost avaraging down the legacy position or close the position automatically (taking profit) without the need to be in front of the computer all the time.
The solution might be reducing the minimum limit to $50 instead of $100 ?? This is what the minimum limit order of other platform such as eToro has put. It works well as not many people complaining about this limit.
The price notification + manual execution is not the solution, especially f you have a lot of number individual stocks to watch.
I know this has been asked before but I would like to refresh this subject as I believe it would benefit many users:
Could you please lower the minimum limit for limit buy orders?
Its around 100-120€ at the moment. Which is sometimes quite high if you would like to invest in small batches over a longer period but without missing out on the advantage of limit orders.
Even reducing the minimum to 25-50€ would go a very long way and would be very much appreciated by the community
I wonder those who are suggesting charging a fee for a limit order are they personally using this type of order??
People proposes charging a fee (see above) for placing a limit arguing other platforms are charging as well, which platform are they referring to HL?? HL is mainly for pensioners and long-term investor who hardly use the platform for trading. So, for them a fee for trading.share dealing however high it is, is irrelevant in the decision making.
Trading 212 as the name suggest is for trading platform. Even TD Ameritrade one of the well known trading platforms does not charge a fee for a limit order. Let alone if you compare it with platform similar nature to T212 such as eToro, freetrade, Webull, Robinhood, etc. Keep in mind they have made money from the spread between buy/sell especially from the traders.
Surprise to see so many “not in my backyard” attitude. You find a lot of this sort of attitude in the debate in politics but not many in general discussion to find a fair / workable solution.
We understand why this is important for you and the minimum limit is just temporary. In fact, our plan is to revise the minimum amount for pending orders within the next 2 months. As always, we’ll update you once this is done.
Thanks Bogi for the update
restoring the 0 we had previously ?
We’ve just lowered the minimum value for placing pending orders to 50 per instrument currency instead of 100.
Next objective: dismissal of the limit, as a whole.
We’ll keep you posted.
Thanks this is such great news. Thanks for listening to feedback! Although I’m having an error with guild. When I try a limit for £100 it’s ok but when I try for £50 I get a message saying minimum 5000p even though it’s value is above £50
Thanks for such a great news. It is very usefull for a little guy, the retail trader to do trading without the need to sit all day long in front of the computer.
@bmbm365 What you can do is:
- Clear the cache on your phone.
- Close & reopen the app so that the changes can be reflected.
It works for me on mobile App. I have done that with many limit orders today. It accepts the limit order of minimum $50 or £50.
Fantastic, great work, highly appreciated!
Working now thanks… Thanks again for listening to feedback!!!
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This is great news. I wonder what is IBKR doing to Trading212 though,