[I HATE iii]
A rant on my broker - iii.co.uk
Spotted a good quick trade opportunity on LSB this afternoon and got in for 13.5p at about 15:30, by 16:00 the stock was trading at 18p. The stock dropped a little bit to 16.5p - with L2 market depth (from iii) showing buyers still outnumbering sellers by about 3:1.
I clicked to sell on iii, and then it just said no. It kept saying there was some kind of issue about an open window preventing me from selling. I had no choice but to put it through as a negotiated trade. 20 minutes later, they miraculously sold the share for 14.5p - losing me £180 in that 20 minutes because their web interface is garbage.
Why should I pay for L2 if I can't execute my trades based on that information? Why did iii block the sale? Why did it go to negotiated trade when the L2 was still strongly in favour of the sellers?
Anyway, the same thing happened when I tried to sell IEC earlier in the month. I have now applied for a brokerage account with E*Trade. III level 2 market data is the cheapest around, probably for a reason. The charting is not at all interactive and as I mentioned - what good is it if you can't use it to make a trade?
It is also very annoying to see the lack of trading platforms provided by UK stockbrokers that provide the ability to sell from within the platform, instead of via a clunky web site. Unlike the Americans, who have plenty, it seems London still wants to keep a degree of exclusivity about trading stocks.
Spotted a good quick trade opportunity on LSB this afternoon and got in for 13.5p at about 15:30, by 16:00 the stock was trading at 18p. The stock dropped a little bit to 16.5p - with L2 market depth (from iii) showing buyers still outnumbering sellers by about 3:1.
I clicked to sell on iii, and then it just said no. It kept saying there was some kind of issue about an open window preventing me from selling. I had no choice but to put it through as a negotiated trade. 20 minutes later, they miraculously sold the share for 14.5p - losing me £180 in that 20 minutes because their web interface is garbage.
Why should I pay for L2 if I can't execute my trades based on that information? Why did iii block the sale? Why did it go to negotiated trade when the L2 was still strongly in favour of the sellers?Anyway, the same thing happened when I tried to sell IEC earlier in the month. I have now applied for a brokerage account with E*Trade. III level 2 market data is the cheapest around, probably for a reason. The charting is not at all interactive and as I mentioned - what good is it if you can't use it to make a trade?
It is also very annoying to see the lack of trading platforms provided by UK stockbrokers that provide the ability to sell from within the platform, instead of via a clunky web site. Unlike the Americans, who have plenty, it seems London still wants to keep a degree of exclusivity about trading stocks.
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