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.