Trading 212 ; Trading!

Altior

https://forums.moneysavingexpert.com/discussion/comment/81945563#Comment_81945563

Are you stating that the limit orders that I have submitted on to Freetrade are not actually on the market?

I looked at the Freetrade website, and it's a bit nebulous.

A limit order is an instruction you give to buy or sell an asset at a specific price.

The instruction is usually given to a broker that will automatically execute the trade at the price you specified.

I think I need to do a bit more digging. All I want to do is offer a price and have it next in line in the market. I had, perhaps mistakenly assumed that my limit buys were actually placed on the market.

Altior

Did a little test, now this limit order executed upon submission, and the google chart updated to my executed price immediately (as the last price traded). Going to see how this is noted on the trust's Share Price Information page :)

Altior

And one not executed upon submission

Altior

There it is 😎

wmb194

https://forums.moneysavingexpert.com/discussion/comment/81945615#Comment_81945615

No. If you want direct market access (DMA) you need to look at a more expensive broker like Interactive Brokers.

A quick Google: “Select the IBKR Pro pricing plan for full DMA capabilities.“

Altior

Thanks, it is curious looking around and trying to solve the puzzle that I set myself. At the moment, Freetrade is working very well for me. It was just those trades just under my limit order that are illogical. So I just need to try and work out the mechanism that Freetrade actually uses. In that example I have gone from submitting a limit order to the order being executed within a handful of seconds. So there isn't a human behind this. Which makes sense if my limit order is around the price being traded, but what triggers the execution if it isn't (if my order isn't on the market).

I am now very confident that google's chart is live time ie last price actually traded and reflects real trades. Which is good enough for my amateur dabbling.

If anyone is looking in and thinking this bloke is a bit mad, I have had cash on the side lines in MMF for a long time, I have decided to shift a bit of it over to NCYF for the long term yield. To me it makes sense to do this in stages in case of short term volatility, which has actually worked for me, and I'm buying when the premium has narrowed a fair bit. I've taken the opportunity to learn a bit around the actual execution of trades (with a lot more to learn!). I'm a much better learner when doing stuff for real though.

wmb194

https://forums.moneysavingexpert.com/discussion/comment/81945823#Comment_81945823

As I mentioned before, you need a better data feed. You need to be able to see the LSE's live bid/offer prices.