sharetrader
Page 8 of 52 FirstFirst ... 45678910111218 ... LastLast
Results 71 to 80 of 519

Thread: Direct Broking

  1. #71
    Guru
    Join Date
    Feb 2005
    Location
    Auckland, , New Zealand.
    Posts
    3,227

    Default

    The following is on the website now trying to justify their interference in actioning what orders we place.

    I don't want their so called expertise. I just want my orders actioned when I place them.

    Latest Update - Placing a high volume or complex order?
    For significant orders, either in terms of size or complexity, the Direct Broking trading team leverage’s FNZC’s extensive market depth and coverage to achieve the best possible outcome for our clients. This means it may take a little longer to process these orders, but we believe our capital markets expertise will give you the best outcome for your portfolio. close

  2. #72
    Senior Member
    Join Date
    Jun 2014
    Location
    Mid of Middle_earth
    Posts
    1,024

    Default

    Quote Originally Posted by 777 View Post
    The following is on the website now trying to justify their interference in actioning what orders we place.

    I don't want their so called expertise. I just want my orders actioned when I place them.

    Latest Update - Placing a high volume or complex order?
    .......................
    You're right. What's the difficulty in placing a high volume buy/order transaction? And what's a complex order? Are they in the process of accepting multi-nested IF and AND limit orders now?

  3. #73
    Guru
    Join Date
    Feb 2005
    Location
    Auckland, , New Zealand.
    Posts
    3,227

    Default

    Quote Originally Posted by RGR367 View Post
    You're right. What's the difficulty in placing a high volume buy/order transaction? And what's a complex order? Are they in the process of accepting multi-nested IF and AND limit orders now?
    This is a problem of a full service brokerage getting involved with an online brokerage. The reason I started using an online one is simply because I did want anything to do with a full service one. They forget that we are the market and the system is not for their benefit to manipulate.


    I have emailed them to tell them that I don't think they should play with clients orders in this way.
    Last edited by 777; 25-02-2019 at 09:10 AM.

  4. #74
    Member
    Join Date
    Mar 2013
    Location
    On the road 24/7/365
    Posts
    96

    Default

    Quote Originally Posted by blackcap View Post
    I dare say the term "contract note" implies it is a legitimate purchase. But I would definitely ask them for an explanation as to what happened. NZX not going to be happy if they are doing trades and not showing them on screen.
    Well I just spoke with one of the team at Direct Broking and you guys were right. It was a legitimate purchase but the guy I spoke to could not explain how they were able to fill some of my order at a buy price that was about 3% lower than the lowest price these shares supposedly traded for on Friday.

    I did wonder about them just doing it to clip the ticket and pick up the brokerage, but then I thought they could have given me a much smaller parcel of shares and still done this. In the end it wasn't an insignificant amount that I received.

    I'm also still a bit confused as to why it doesn't show up that they partly filled my order when I look at my outstanding orders. Usually they show. Oh well .

  5. #75
    ShareTrader Legend bull....'s Avatar
    Join Date
    Jan 2002
    Location
    auckland, , New Zealand.
    Posts
    10,993

    Default

    Quote Originally Posted by 777 View Post
    The following is on the website now trying to justify their interference in actioning what orders we place.

    I don't want their so called expertise. I just want my orders actioned when I place them.

    Latest Update - Placing a high volume or complex order?
    For significant orders, either in terms of size or complexity, the Direct Broking trading team leverage’s FNZC’s extensive market depth and coverage to achieve the best possible outcome for our clients. This means it may take a little longer to process these orders, but we believe our capital markets expertise will give you the best outcome for your portfolio. close
    matching orders in house means more profit for brokers
    one step ahead of the herd

  6. #76
    Guru
    Join Date
    Feb 2005
    Location
    Auckland, , New Zealand.
    Posts
    3,227

    Default

    Quote Originally Posted by bull.... View Post
    matching orders in house means more profit for brokers
    I have no problem with that but don't sit on an order for some length of time to achieve that.

  7. #77
    ShareTrader Legend bull....'s Avatar
    Join Date
    Jan 2002
    Location
    auckland, , New Zealand.
    Posts
    10,993

    Default

    Quote Originally Posted by 777 View Post
    I have no problem with that but don't sit on an order for some length of time to achieve that.
    your right its totally un acceptable not to put an order straight to market if there is a seller at the price you want
    one step ahead of the herd

  8. #78
    Advanced Member
    Join Date
    Apr 2008
    Location
    Kerikeri
    Posts
    2,468

    Default

    Quote Originally Posted by bull.... View Post
    your right its totally un acceptable not to put an order straight to market if there is a seller at the price you want
    “high volume or complex order?”
    They need to define what this. And if our orders are not within the parameters, process them promptly. This stinks IMO,

  9. #79
    Member glennj's Avatar
    Join Date
    Dec 2001
    Location
    Westland based now.
    Posts
    193

    Default

    Quote Originally Posted by bull.... View Post
    your right its totally un acceptable not to put an order straight to market if there is a seller at the price you want
    I phoned them a few weeks ago about my internet order not showing in the depth yet there being a seller willing to sell at the price I was prepared to pay. They
    told me they were bundling my order with others to try and get me a lower price thru. a wholesale buy. I replied that they were not my instructions and that
    I expected them to put thru. my orders as submitted. I gave them till the end of the day to secure my order at cheaper than my bid price to which they agreed
    but soon after speaking with them my buy offer turned up in the depth as per my original order. It seemed a bit shonky at the time but I did not lay a complaint
    and it has not happened on a subsequent purchase of shares in the same company. Not actioning my original order probably cost me what would have been a good buy as the
    price moved up in the period that my order was not submitted.
    Last edited by glennj; 25-02-2019 at 12:02 PM.

  10. #80
    Senior Member kizame's Avatar
    Join Date
    Feb 2007
    Location
    Tauranga, , New Zealand.
    Posts
    717

    Default

    Honestly it's a shonky platform,I really thought they were going to move it ahead when they bought the company, today my trading view platform has the correct price whereas direct broking even after refreshing several times is 1 cent behind,very very poor in my opinion.

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •