Halifax Share Dealing - I feel cheated and hurt!

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Hello,

On Friday morning I attempted to make a purchase of some shares (KOOVS) via Halifax Share Dealing. I've used this platform for several years without any problems (apart from the terrible mobile user experience and the clunky user interface).

I submitted a request to purchase at around 9am when the markets were low following the Brexit announcement. A message popped on my screen saying that the system is busy at the moment, however they would purchase the shares as soon as possible at the best price available. I would presume this would be a reasonable amount of time. 15/30 minutes delay perhaps.

Having sat and waited all morning for my shares to appear in my account, there was nothing. Low and behold, the afternoon saw a huge spike around 1.30 in the afternoon following an announcement by the business. My shares went from -5% (52p) to +7% (58p). I was over the moon at my clever decision making to buy (and a gutsy one too given the way the markets were going!).

My mood suddenly changed when I refreshed my account to see that Halifax had waited 4.5 hours to make the purchase when the shares had jumped to the days peak. To say I was angry is an understatement. I called their customer services to which they told me, 'the markets are volatile'.

Something doesn't quite feel right about this. I made another purchase into another share at the exact same time and they went through right away. 4.5 hours seems unfair and has cost me a heck of a lot of money. Is there anything I can do or has anybody else experienced the same issue?

Thanks
Matthew

Comments

  • AnotherJoe
    AnotherJoe Posts: 19,622 Forumite
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    Hargreaves Lansdown were also having issues (according to chat on the net) , that was about the worst possible time to be buying, everything a big mess. If you wanted below a particular price you should have put that into the dealing instructions. Live and learn, been there, done that.
  • JohnRo
    JohnRo Posts: 2,887 Forumite
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    The most expensive lessons are also the most valuable.
    'We don't need to be smarter than the rest; we need to be more disciplined than the rest.' - WB
  • bigadaj
    bigadaj Posts: 11,531 Forumite
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    Many of the brokers seem to have had problems.

    I heard that a couple of hedge funds might have gone tits up as well, with others profiting, but haven't seen anymore details.
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