Platform Irregularity: no trade rejection message

[dealer911]

It was very close to the low. I had been tracking the long for a week or so.

Thanks for the comment dealer911. Have you had a similar problem with a platform not giving a trade rejection message when they should have done?

Not really had the same problem - the fill should have been visible in your open positions.. for me that is the confirmation that I dealt. If you saw the position in your open positions and it was reversed then they should explain why.
The trouble is they will want to know why you didnt report it earlier - fair enough if you didnt log in again but they will be able to see if you did log in prior to raising the issue - they will suspect that you only reported it as the market was much higher and if you had a sell order at that level you would have kept quite (I would anyway) - Best to check the time and sales and the audit trail on your account - ask them to send through their records of the trade rejection (they will have this)
good luck!

 

[twinj]

Thanks dealer911 for your comment. How long would you wait until you try again if you did not see the intended trade in the open positions window?

 

[dealer911]

Thanks dealer911 for your comment. How long would you wait until you try again if you did not see the intended trade in the open positions window?

I would call them straight away to check - it is frustrating but if you dont see the trade in open positions you have to assume nothing done.

 

[gle101]

Thanks for comment gle101. These days, I like to wait for a good opportunity. I suppose if I am trading frequently as in 100 trades a day, this sort of thing could be ignored.

My money is sort of stuck because of the bonus criteria. I have made a certain number of trades and that would be wasted if I leave.

You are welcome.

 

[twinj]

I wrote quite a bit but it got lost so forgive me for the brief way of writing.

Compliance (C) replied.
C states that there was a better price that is why I was rejected.
C thinks that I could have reentered.
C thinks that having used the platform for 2 years, I should know what to do.
Well, it was a platform irregularity for me so I was worried about my trades. I closed all other trades I had and waited for clarification from my account manager which finally came after 5 hours.

C claims that I did not receive a trade rejection message because of a problem on my side. This is doubtful because as you have kindly mentioned, I am not the only one experiencing the absence of trade rejection messages.

C states that I had a chance to reenter the market as the price came back down. Now unfortunately, my account manager took 5 hours to respond so by the time I received it, the opportunity passed for me.

C thinks that I am complaining about the missed opportunity of the recent DAX move to 10800. I have had to tell them that I am only referring to the missed opportunity on 16th Dec.

Clearly the response is unfavourable and C has no perspective of a trader. Hope my response clarifies things and hoping for a better outcome. Otherwise financial ombudsman.

 

[gle101]

I wrote quite a bit but it got lost so forgive me for the brief way of writing.

Compliance (C) replied.
C states that there was a better price that is why I was rejected.
C thinks that I could have reentered.
C thinks that having used the platform for 2 years, I should know what to do.
Well, it was a platform irregularity for me so I was worried about my trades. I closed all other trades I had and waited for clarification from my account manager which finally came after 5 hours.

C claims that I did not receive a trade rejection message because of a problem on my side. This is doubtful because as you have kindly mentioned, I am not the only one experiencing the absence of trade rejection messages.

C states that I had a chance to reenter the market as the price came back down. Now unfortunately, my account manager took 5 hours to respond so by the time I received it, the opportunity passed for me.

C thinks that I am complaining about the missed opportunity of the recent DAX move to 10800. I have had to tell them that I am only referring to the missed opportunity on 16th Dec.

Clearly the response is unfavourable and C has no perspective of a trader. Hope my response clarifies things and hoping for a better outcome. Otherwise financial ombudsman.

I am amazed that you put such a lot of effort in this one "missed" trade. It is not that you have lost any money, other than with hindsight missed a great opportunity.

I would personally just move on to another broker if you feel that they have not lived up to your expectation. To be honest and with all respect, I cannot see what you could gain in pursuing this matter, but you are of course the best judge of that.

 

[dealer911]

I wrote quite a bit but it got lost so forgive me for the brief way of writing.

Compliance (C) replied.
C states that there was a better price that is why I was rejected.
C thinks that I could have reentered.
C thinks that having used the platform for 2 years, I should know what to do.
Well, it was a platform irregularity for me so I was worried about my trades. I closed all other trades I had and waited for clarification from my account manager which finally came after 5 hours.

C claims that I did not receive a trade rejection message because of a problem on my side. This is doubtful because as you have kindly mentioned, I am not the only one experiencing the absence of trade rejection messages.

C states that I had a chance to reenter the market as the price came back down. Now unfortunately, my account manager took 5 hours to respond so by the time I received it, the opportunity passed for me.

C thinks that I am complaining about the missed opportunity of the recent DAX move to 10800. I have had to tell them that I am only referring to the missed opportunity on 16th Dec.

Clearly the response is unfavourable and C has no perspective of a trader. Hope my response clarifies things and hoping for a better outcome. Otherwise financial ombudsman.

It would have been nicer if their system had just filled you at the better level rather than reject - If you were trading on the real market and you went to lift an offer at 9220 and all of a sudden it went 9200 offered you would be filled at 9200 not rejected. The problem you had is you spent 5 hours arguing about a fill - I would chalk it up as a bad experience and move on as there is no way they are going to fill you now.

 

[twinj]

Thanks for your comments. It is a bad experience but useful because I know what to do next time. It is a shame that it coincided with a critical move.

gle101, it may be the best thing to do to move on but I want to see how they and the system deal with such a complaint. It comes after a big loss due to the Chinese unexpected announcement and this opportunity was a time to recoup everything and be well up.

I am not hoping to get filled now. That would be unreasonable for a day trader. I would have profited handsomely on that day but not as well after.

In any case, I am seeing a limit in spread betting. Even with a 50k account, a 50 percent to 100 percent return per annum will only give you 50k back max. If only more than 50k is protected it would make more sense. I think in America, 250k is protected so it would be more alluring.

This incident has made me more determined to find a job.

 

[gle101]

Thanks for your comments. It is a bad experience but useful because I know what to do next time. It is a shame that it coincided with a critical move.

gle101, it may be the best thing to do to move on but I want to see how they and the system deal with such a complaint. It comes after a big loss due to the Chinese unexpected announcement and this opportunity was a time to recoup everything and be well up.

I am not hoping to get filled now. That would be unreasonable for a day trader. I would have profited handsomely on that day but not as well after.

In any case, I am seeing a limit in spread betting. Even with a 50k account, a 50 percent to 100 percent return per annum will only give you 50k back max. If only more than 50k is protected it would make more sense. I think in America, 250k is protected so it would be more alluring.

This incident has made me more determined to find a job.

Yes I understand, it can be emotionally draining if it occurred after a big loss and in a sensitive situation. With that kind of money at stake I would not consider spread betting at all. You are talking about quite a big return on invested money.

Yes there are some that think trading will easily replace a stable job, but that is far from the truth.

Good luck with your job hunting.

 

[twinj]

The compliance team have compensated me as a gesture of good will.

They also offered an explanation that a slow internet connection may be the reason for the loss of the trade rejection message.

The amount is only about 10 percent of what I could have made but I am eager to move on.

It was an unfortunate incident and next time, I will certainly look at the Activity window.

They are pretty understanding so I will continue to use their services.

Good luck with your trading.

 

[gle101]

The compliance team have compensated me as a gesture of good will.

They also offered an explanation that a slow internet connection may be the reason for the loss of the trade rejection message.

The amount is only about 10 percent of what I could have made but I am eager to move on.

It was an unfortunate incident and next time, I will certainly look at the Activity window.

They are pretty understanding so I will continue to use their services.

Good luck with your trading.

Yes that was a really a good outcome of your complain, in fact I was pretty sure they wouldn't give you anything.