So I was under the impression that as long as you submit trades before 2pm they will be executed same day. I submitted at around midday yesterday and it didn’t go through. Price has since gone up.
I’m in no way saying I’m trying to time the market, I’m not. But I’m also not blind and are following the rules of what I’m told which is “Our trading window is 2 pm-7 pm.”
Surely this should mean submitting an order 2 hours before the 2pm cut-off, the trade should go through same day? Starting to think IE have a set daily quota and you get added to a queue as this has happened most trades for me.
Not an answer to your question but my observation from IE. You will always buy at the highest price on that day. This observation is quite consistent from my previous trade. Not sure what others have experienced.
I have noticed this also. Thought I was just being unlucky to having paid a higher price rather than what it was at 2pm. Would be great to get this confirmed by IE if it is indeed the case.
@Simmzy I don’t think they trade everything at exactly 2pm it’s just that is the start of the trading window…I assume, that you get whatever price it is when they execute the trades within that timeframe. Unless they are lying and making money off the spread? Which would actually explain it.
Their help section states…
Our trading window is 2 pm-7 pm.
We trade at approximately 3:15 pm. If you place your orders before the start of our trading window (prior to 2 pm) they will go through the same day, otherwise, it will be the following business day. Please make sure to place your orders prior to 2 pm to ensure same-day execution.
If someone gives you a deadline and you submit 2 hours early would you expect to be told you were too late? I think they need to change the time as I’m 100% convinced it’s either NOT 2pm OR IE have a quota of how many trades they can submit each day.
As I said, not trying to time the market but it’s good to know the information we’re told is accurate so we know what we’re dealing with.
My trades have also been excuted on high of the day prices, there is something dodgy going on, i think this window business and getting a different highly inflated price is costing us millions, im seriously thinking of getting out of IE
The market is open from 9am till 4:30, but with IE’s one window you are missing massive profits, they also only update the price once which is deeply annoying, and also they tie you in with not offering in-specie OUT transfers.
Hi @Asr sorry to hear you’re thinking about leaving us. If it helps, I can assure you there’s nothing dodgy going on. We trade once a day because we’re focused on long-term growth, and by keeping costs low our end, it allows us to pass on that saving to you, through our account fee-free DIY portfolios and account fee-free SIPPs, for example. We’re not a trading platform - we’re focused on time in the market, rather than timing the market.
Similar experience. When I check the price (on another platform) at the time of execution per IE, I find that you always pay more on IE. So I suspect they make money with the spread as well.
Hi @Solar03 we don’t make money on the spread. We’re pretty transparent about how we do make money - you can read more about this on our blog.
We make money from our managed portfolios, which carry a charge of 0.25% per year. To keep costs low, we trade once a day, leverage automation, and use resources efficiently so we can maintain competitive pricing without compromising on services.
We also, as mentioned, earn interest from uninvested cash on the platform. Importantly, this excludes any cash held in managed portfolios - we don’t “double dip”.