DH
Daniel H

1 reviews | Active since Feb 2015

18 Oct 2016, 12:26

Failing miserably - horrible share trading platform

<p>Posting this on behalf of my mother</p> <p> </p> <p>Using her share investor account, twice in the last 2 weeks did it happen that a share didn't execute when using tthe online paltform. Sfter the first incident(sold shares, sale didn;t execute, was forced to sell it again the next morning and lost R2000 profit, because the shale wasn't executed from FNB's side.) I logged a complaint, the answer to my complaint was, that if the trade doesn't execute, you can call FNB's share investor service, and get FNB to maually place the trade.</p> <p> </p> <p>So with the resolution in mind, I (on behalve of my mother) placed a trade again on the morning of(18/10/2016). Noticed that the share wasn't executed within the share price delay interval (15 minutes), waited another hour, nothing happened. So I phoned up FNB's share investor, as instructetd, to maually execute the purchase of the share(keep in mind that this specific share's price rose with 2% in the hour I waited). Here follows FNB's answer, sorry sir we are also experiencing problems on our side, therefor we can't execute your purchase, but let me take your details and call you back when our system is working again so that we can purchase those shares for you. Sound fair? indeed, so I asked the consultant, so you will purchase the shares at the price at which I initiated the purchase? No sorry sir we will only be able to maually execute the purchase at the price the share will be trading at then(whenever there system is working again.</p> <p> </p> <p>WHY would I want you to purchase the shares for my 4 hours later at a muchg higher price that what I planned to purchase the shares for?? What is the point of trying to trade shares, if one isn't able to purcchase or sell the shares at that specific point in time when you are satisfied with the price the share is trading at??</p> <p> </p> <p>It's like, you want to withdraw money at an ATM because you need the cash NOW, but the atm tells you can only withdraw money later.</p> <p> </p> <p>I'm definitely swithing trading platform! The concept of there operation is absolutely rediculous!</p>

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