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Member
Incredibly show getting orders through. I placed an order into significant sell depth, it sat there for 15 minutes with no action (didn't even appear on buy depth, while other smaller trades were going through). Then that depth evaporated after 20 minutes and I've had to increase by bid price! But I can see that has not been actioned either (just over 10 minutes now, with ~10x sell volume available).
This is insane. Calling them just rings through. I know it's a difficult situation but if they aren't able to get orders through in a reasonable timeframe (while other brokers obviously are), then should they not admit this and send people to other brokers for the time being?
Am I being too harsh?
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Originally Posted by Caesius
Incredibly show getting orders through. I placed an order into significant sell depth, it sat there for 15 minutes with no action (didn't even appear on buy depth, while other smaller trades were going through). Then that depth evaporated after 20 minutes and I've had to increase by bid price! But I can see that has not been actioned either (just over 10 minutes now, with ~10x sell volume available).
This is insane. Calling them just rings through. I know it's a difficult situation but if they aren't able to get orders through in a reasonable timeframe (while other brokers obviously are), then should they not admit this and send people to other brokers for the time being?
Am I being too harsh?
They need to spend some money and upgrade the system .....should just give you direct market access ( DMA ) .
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Member
20 minutes now, sell depth still 3 times my order, but my order hasn't even appeared on BUY side at any price.
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I lost about 20k because of this issue the other day. That's the end of my day trading. They simply don't execute orders, even when you're sitting there looking your buy and sell price right in the face. So frustrating. Cost me a ton of money,
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Member
Originally Posted by cymonger
I lost about 20k because of this issue the other day. That's the end of my day trading. They simply don't execute orders, even when you're sitting there looking your buy and sell price right in the face. So frustrating. Cost me a ton of money,
Sorry to hear :/
I know in the past when this has happened (pre COVID times) they've sometimes said they are "walking the price up/down" to get a better price, however, I'd rather they just placed the bloody order because it has occasionally (not every time) cost me the trade.
Are there an NZ brokers that will just place your order as long as there's depth?
EDIT: Now the phone won't connect, just get the telco "We're having some issues right now". I acknowledge everyone's struggling (including Jarden/DB) due to the lockdown situation, but what if someone were trying to offload shares into buy depth because they desperatly needed the cash? I know there are other brokers but that doesn't solve their immediate problem.
Last edited by Caesius; 25-03-2020 at 11:08 AM.
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Everything appears to be slow these days...there were times we couldnt even get through to a private number....banks etc a write off
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Originally Posted by Caesius
Incredibly show getting orders through. I placed an order into significant sell depth, it sat there for 15 minutes with no action (didn't even appear on buy depth, while other smaller trades were going through). Then that depth evaporated after 20 minutes and I've had to increase by bid price! But I can see that has not been actioned either (just over 10 minutes now, with ~10x sell volume available).
This is insane. Calling them just rings through. I know it's a difficult situation but if they aren't able to get orders through in a reasonable timeframe (while other brokers obviously are), then should they not admit this and send people to other brokers for the time being?
Am I being too harsh?
Caesius I do not think you to hash at all. I have the same bad experiences at times and lack of prompt action of orders can be very expensive. DB talks about exceptional busy times but delays happen regularly.
If the problems are with the NZX as DB sometimes claim than the NZX should be closed at times they can not cope with volume.
If the problem is with DB, I like to see reimbursement of financial loss.
DB not answering phone calls is definitely a DB problem. I have also noticed that if ph calls get answered the friendliness which was there in the past has evaporated. Sad to see DB deteriorating lately.
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My view is that if you want to be a day trader you really need to have click and done transaction facility. Its not necessarily DB's responsibility to provide that and certainly in times of stress this is just what happens.
Live with it or find another way is my comment.
am I being too harsh?
Maybe but I'm just working with how it is
Last edited by peat; 25-03-2020 at 11:13 AM.
For clarity, nothing I say is advice....
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Member
Originally Posted by peat
My view is that if you want to be a day trader you really need to have click and done transaction facility. Its not necessarily DB's responsibility to provide that and certainly in times of stress this is just what happens.
Live with it or find another way is my comment.
I see your viewpoint. However I don't want to be a day trader I just want my *at market* order placed within 45 minutes (and counting). I don't think most people expect that you'll be unable to buy/sell at market when there are times of stress when you sign up with DB; times like these is often when you rely on being able to do just that! Perhaps they should make it more clear that it is not their platform is really for those with a long-term (at least 1 month) orders.
Out of interest, what are these other ways? Genuinely curious.
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Originally Posted by peat
My view is that if you want to be a day trader you really need to have click and done transaction facility. Its not necessarily DB's responsibility to provide that and certainly in times of stress this is just what happens.
Live with it or find another way is my comment.
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.
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