Best time to place orders

Hi there,

Was wondering if I could get some advice. Is the best time to place an order to try and match the current price of the the ETF just before 230pm?

I’ve been finding quite a jump between the price I book into & the price that it’s bought for. Not a huge deal when purchasing minimal shares, but makes a difference when the purchase is in hundreds etc

I obviously understand market volatility, but what’s your advice to investors so they can purchase as close to the quoted price as possible?

Many thanks in advance,

Matty

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Hmm I’m not sure if you can ‘time the market’ to the degree you wish to on IE. Perhaps an IE person will comment shortly; they’re usually quick to respond.

Hi Matty,
Thank you for your question.
We have a section in the Help Centre which covers this. I’ve copied the link for you here
I hope this helps,
If you have any other questions, please let me know.
Chat soon,
Mark

I wouldn’t classify it as that really, it’s just attempting to purchase at the price that is shown (or as close as possible) - just like you would when you purchase individual shares.

I can understand with a managed account or auto investing there’s no real necessity, but if you have a DIY account it would be good to try and have more control of this.

I wonder if on DIY accounts if we would be able to make the trades ourselves.

Thanks Mark, appreciate that. Even if we action the trade prior to 2pm the price usually quoted is yesterday’s price. If we can’t make the trades ourselves, would it be possible to have more of an accurate reading on what the price is on that day. I check the market myself to try and get a good handle on what it roughly is but it be handy to have a real time indicator which better estimates what price we are booking in at.

Would there be any scope in the future for DIY accounts to just make the trade ourselves?

Hello
Pherhaps a low / high price estimate could be displayed on buy / sell orders.
This could be calculated hourly to allow for added clarity.

2 Likes

Yeah man, that would certainly be helpful!

Hi there,
Thanks for your feedback; I will pass it on to the correct department.
We aim to provide an opportunity to have a mid to long-term investment for a very low price, giving unbeatable value to our clients; you’ll find some more information here
Anytime we have updates, we’ll be posting in the community, so make sure to keep an eye out.
If I can help with anything else, please let me know.
Chat soon,
Mark

1 Like

Thanks Mark, I appreciate you doing that. I think the link you sent is a little broader than what the request is though. I’m assuming whomever places the order from the IE side does so at a price that the ETF is at that particular moment. I’m just requesting that we can have a little more information on what that price roughly is rather than solely what is was the day before. With the markets being so volatile, it can be a difference of hundreds of pounds if the price shifts overnight. As Woodside commented, a low/high price estimate would be great or just a ‘Today Open/Today High/Today Low’ which is updated during trade days.

Something that maybe could help in that regard could be for us to place an order with a price limit. Beyond that limit, the purchase order must not be carried out.

2 Likes

That’s a FANTASTIC IDEA Luke!!!
@MarkMcDonagh

All good suggestions. But you have to remember that this is the cheapest place to buy and hold ETFs via self selection - something has to give. If they can do limit orders or manual trades for free I will not complain. But if that means some fees start creeping in then no thank you. Other places can accommodate that if needed.

If you are worried about minor intraday swings, then perhaps you should consider your investment horizon.

But to your questions, when is the best time to place an order? Yesterday. 2nd best time? Right now.

1 Like

I am well aware it’s the cheapest and in my opinion the best index trading platform, both in what they provide and customer service.

They ask for suggestions and this is something people have suggested. Obviously, if it has an impact on fees then that’ll be communicated by the staff. I’m sure if such a service was being thought about they would bring issues like that to these boards for the members feedback - that’s the whole point of the discussion group.

In large trades a change of a couple of dollars can be hundreds of pounds difference, so I don’t think it’s too much to ask to have a bit more clarity on the buying price. If a limit price could be brought in which doesn’t affect the fees, or some other form of gaining more clarity over the purchase price then I’m sure it’s something people would welcome. But again, I’m sure the staff would communicate if this involved further costs.

I’m perfectly happy when considering my investment portfolio Josh, happy trading.

I think a live price at time of purchase isn’t a big ask.

But for limit orders - I can’t see how that can be done and maintain zero costs. From what I understand, the business model (no fees and fractional shares) relies on being able to bundle orders together once a day. Throwing in a myriad of investor limits into the mix, while sounding easy, I’m sure adds a lot of complexity to the process.

But I would absolutely love to be wrong and for this to be added free of charge.

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Yeah I get ya, I didn’t know that about the business model thanks.

Well perhaps there can be something where the share price is updated prior to the 2pm cutoff rather than the last closing trade price, I think there was a couple of suggestions above. I do check on other apps to find this out, but it be handy if it was built somewhere into the interface as it would be a closer gauge to the buying price.

I know these guys are working hard to provide the best user experience possible, so I’m sure they will be some more developments with this as we go along.

Cheers bud.