Direct broking / NZX

[dameofdiv]

Today is definitely unusually slow..been waiting for my buy order for the last 50 mins. I don't day trade but have been slowly buying these few days, and today is longer than usual

[BIRMANBOY]

Frustrating of course but totally understandable if you think about it. Of course thinking about it is obviously not your strong point LOL. Ramping up from normal volume to these volumes as well as huge increase of number of changed/edited buy/sell prices is going to stretch even good platforms. This is an unusual situation so expecting the same service is just an unreasonable and (obviously) unreachable expectation. Allow extra time and also give yourself more flexibility with prices is my suggestion. No point in getting pi**ed off about it ..everyone in same boat.

Firstly I am not a day trader however I find it frustrating when orders do not get prompt attention.
Secondly all I expect of DB to supply a prompt service which I know can be supplied.
Why do I know they can supply a prompt service, because they manage to do that for many years in the past.
They also used to manage answering phone calls in a friendly and timely manner.

I am not familiar with click and done transaction facility but will look into this. Thanks for the suggestion Peat.

[martinchnz1]

They just advised me on average 45mins at the moment.

[Beagle]

Coutts wanted me to post that even with the volume he does, which is huge, and he is supposed to get priority because of that, he's not. 45-50 minutes is common at present.

Its the same wherever you go though. Yesterday I tried to get a new computer for the family at Noel Leeming for the shutdown so everyone can be online and happy.
The local store was almost completely cleaned out. What was left was overpriced. Found one Mrs B liked....sorry we don't have a new one in a box. Okay, we'll take the floor model. Sorry, can't do that, someone has stolen the mouse. Okay, we'll accept a generic wireless mouse instead. Can't do that, we're not allowed to sell you an incomplete product, its store policy. Really...they just couldn't have cared less and really didn't want to be there. Went to Harvey Norman instead. Found the same computer at a higher price. They had no interest in price matching, no new stock of that computer and no discount for taking the floor model that might have been on display for many many months. What can you do but suck it up and tolerate it ? That's the new environment we're living in now.

Got to be grateful for any service you can get, no matter how slow it is or how much better it would have been in "normal times" Remember, all staff would rather be at home preparing for the lockdown that giving you service no matter how slow or poor it is. Think of Direct Broking in the manner of a checkout at a supermarket. Do you expect normal queue's or long queue's at present at a supermarket ?

[Arthur]

It must be costing them a fortune in lost brokerage.

[Caesius]

Coutts wanted me to post that even with the volume he does, which is huge, and he is supposed to get priority because of that, he's not. 45-50 minutes is common at present.

Its the same wherever you go though. Yesterday I tried to get a new computer for the family at Noel Leeming for the shutdown so everyone can be online and happy.
The local store was almost completely cleaned out. What was left was overpriced. Found one Mrs B liked....sorry we don't have a new one in a box. Okay, we'll take the floor model. Sorry, can't do that, someone has stolen the mouse. Okay, we'll accept a generic wireless mouse instead. Can't do that, we're not allowed to sell you an incomplete product, its store policy. Really...they just couldn't have cared less and really didn't want to be there. Went to Harvey Norman instead. Found the same computer at a higher price. They had no interest in price matching, no new stock of that computer and no discount for taking the floor model that might have been on display for many many months. What can you do but suck it up and tolerate it ? That's the new environment we're living in now.

Got to be grateful for any service you can get, no matter how slow it is or how much better it would have been in "normal times" Remember, all staff would rather be at home preparing for the lockdown that giving you service no matter how slow or poor it is. Think of Direct Broking in the manner of a checkout at a supermarket. Do you expect normal queue's or long queue's at present at a supermarket ?

Yeah fair enough. I've calmed down a bit now, and get that we are lucky to be able to still trade. Although I will say, having worked in a real-time industry, I see no technology-related reason why trades shouldn't go through at times like this, so I suspect it's the human element that is the bottleneck.

Does anyone who used CMC Markets or similar know if their platfrom has similar 30 min + delays?

[peat]

Does anyone who used CMC Markets or similar know if their platfrom has similar 30 min + delays?

Click and done
they provide liquidity in the securities they offer
which is mostly a good thing but not always when they spike the prices and hit your stop. Prices are obviously related to the market but you do have to accept that it is not the market, but their market.

[forest]

Frustrating of course but totally understandable if you think about it. Of course thinking about it is obviously not your strong point LOL. Ramping up from normal volume to these volumes as well as huge increase of number of changed/edited buy/sell prices is going to stretch even good platforms. This is an unusual situation so expecting the same service is just an unreasonable and (obviously) unreachable expectation. Allow extra time and also give yourself more flexibility with prices is my suggestion. No point in getting pi**ed off about it ..everyone in same boat.

Ok Birmanboy, I agree we can give DB some slake and tolerate that their service is not as prompt the last 2 days compared with 2 months ago. The present pandemic is one out of the box.
What I find less acceptable is that DB service has been noticeable worse 2 months ago compared with 2 years ago.
This was long before the coronavirus had an effect on the trading volume on our market.

[Oberon]

Best bet is to take a punt on where you think the price will hit and get your order in early. Today, for example, I put a buy order in for A2 @ 16.50 not long after market opening. SP soared well above that until ASX opened, sold off and cut down to my order like a hot knife. So today, I got lucky. I amended my order twice and turnaround was about 5-10 minutes so I *had* thought they'd sorted things out at their end, but from what I'm seeing here it seems I really did get lucky.

So, that's what I've chosen to do. If my order hits, it hits. If not, better luck next time. I'm day trading, mind you, so my strategy doesn't address the very frustrating issue of trying to make an honest exit on a LTH with a SP rocketing down and no one at home at the other end to put your order through. As for the trades you see being processed ahead of you, they won't be retail.

[JBmurc]

ANZ share invest is a joke currently on the ASX place order still waiting hour later to see it placed ... was fine early on open but must be overloaded at present and forget about ringing the helpline it just doesn't connect you through but keeps telling you the same options