Unexpected error to cut profit short

[mmrs151]

Hi,

 

I am not a very happy customer any more. Today I had to cut my profit due to your system error but I am not sure if it is an error or some internal logic to cut our profit short.

 

I could sell my stock at with £65 profit but when it goes over that your system was showing me internal error. Moreover, it accepted the limit order but never executed in the correct price point.

 

This feels like intellectual robbery to me. I have called the number without any luck. I have tweeted without any luck. I feel frustrated to use your system now. 

 

 Thanks

[Guest No phone pick up/cut off]

I had the same problem and not picking up their phones 

 

awful company going elsewhere 

[Ludwik Chodzko-Zajko IG]

Looks like you're trying to place a limit order on a SETSqx equity - won't work unless you're in one of the auction periods.

Info below:

LSE exchanges and why only at quotes is available?

1.SETS  (Stock Exchange Electronic Trading Service) - is the London Stock Exchange’s flagship electronic order book, trading FTSE100, FTSE250, FTSE Small Cap Index constituents, Exchange Traded Funds, Exchange Trading Products as well as other liquid AIM, Irish and London Standard listed securities. The Exchange also operates a version of SETS on a modified trading cycle that supports Securitised Derivatives. 

2. SETSqx (Stock Exchange Electronic Trading Service – quotes and crosses)  - is a trading service for securities less liquid than those traded on SETS. SETSqx combines periodic electronic auctions each day with standalone non-electronic quote-driven market making providing guaranteed liquidity in at least one Exchange Market Size (EMS).  Essentially it is a hybrid of a quote driven order book and an electronic order book. Quote driven for part of the day and at different dimes of the day there are auctions (uncrossing: 8AM, 9AM, 11AM, 2PM, 4:35PM ). You can participate in the auction as if it were an electronic order book. On our L2 deal ticket you will not see market depth so you know it’s either SETSqx or SEAQ. The strip at the bottom with the uncrossing times tells you it’s a SETSxq stock.

3. SEAQ - is London Stock Exchange's non-electronically executable quotation service that allows market makers to quote prices in AIM securities (not traded on SETS or SETSqx) as well as a number of fixed interest securities. Purely quote driven.

Edited June 9, 2020 by Ludwik Chodzko-Zajko IG