A J Bell - One Cancels Other (OCO) Orders

Stone_Broke · 6 July 2023 at 7:29PM

Many of you will be familiar with One cancels Other (OCO) Orders offered by CFD Sites and other Trading brokerages. Leaving platform monitored orders on the system leaves you free to get on with your day without having to watch market action constantly. Personally I manage a proportion of my SIPP and ISA funds using an algorithmic or systems based approach which enters or leaves the market based on unemotional indicator based decisions. I trade ETF's which offer a very cost effective way of achieving this with a fixed £9.50 charge to enter or leave a market. With larger sums of money, this charge becomes very small and ETF's open up a whole new range of markets for managing risks on your investments over the normal Stock based Indicies.

Presently, A J Bell offers only Stoploss Orders which will monitor your holding and liquidate your holding for example in a dramatic market downturn. However, One Cancels Other Orders enable you to exit the same position on either a Profit Target or Stoploss basis ensuring you can tightly control your exposure to risk or reward. Recently I emailed Dealing Services at A J Bell asking them if they could add the facility of OCO orders to the platform. This was their reply:

"Your suggestion was added to our customer feedback log which is reviewed by management on a bi-weekly basis.

Unfortunately, we cannot guarantee that the system will be implemented in the future. However, if there is a large demand for the system on the platform then the senior management team will consider the investment."

So to other A J Bell investers out there that would like to see this facility added to the A J Bell platform, I urge you to email

dealingservices@ajbell.co.uk

and express your support for my request.

Cheers, Paul