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Most liked posts in thread: IRESS & CommSec delaying all my BUY/SELL orders for 20-30 secs

  1. frugal.rock

    frugal.rock "Time wait's for no man"

    Likes Received:
    May 3, 2019
    Can't help you with specific bomsec info, however, I can tell you that I have had similar experiences with pestpac.
    I spoke with them about it...
    The gist of the response was, all orders are subject to asx rules and I guess these rules are written in to the software.
    My experiences are orders go manual;
    if you have changed price's or volume more than once (same stock),
    have a cross trade (trying to buy with a sell order in or vice versa),
    trading on the same stock within 10? minutes (a warning of 'you have placed similar order/s recently),
    and also for no apparent reason...
    a small order was one ie $minimum orders, also large orders over 20k$
    I have found if I delay hitting the final trigger button by 10 seconds (because I am reading the warnings of course...) the order I expect to go manual often goes straight to market, and I suspect a 'timed out' scenario occurs letting it 'straight through' to market, but not always.
    Pestpac will trade on chi, despite asx volume's indicating that the trade could happen immediately via their platform.
    Trades often don't even show in the course of trading list as they only show asx trades.
    They also said that they are working on showing chi data also, but I suspect that will never come to fruition, unless they show it separately, which I would accept and prefer.
    From a programming perspective, it would be highly complicated to migrate data into one screen.
    I have sometimes wondered if they trade on chi knowing full well that they can buy on chi possibly lower than my order price, and then onsell to me at my order price!
    Do you trust them when not everything they do is easy to validate?
    This all adds up to using the data shown is often pointless, as they do want they want by trading on chi.
    I guess what I would like to see, is the asx rules that apply and are built into their software.
    Johny5, Olivia. M and qldfrog like this.
  2. Johny5


    Likes Received:
    Nov 2, 2011
    I'm coming in a bit late on this (been on holidays). Agree 100% with frugal.rock, they also seem to have many more rules that if broken will cause manual intervention of your order. Most of the rules relate to stopping market manipulation. I often simultaneously have bid and ask orders for the same stock, if I have too many orders, amend them too often or pull them close to execution, my orders will be switched to manual, if I continue that behavior I often get a call from my broker telling me to stop as it can be construed as market manipulation. The brokers are very reluctant to list all the rules in advance they just like to penalise you when you break them.

    Isnt it interesting the big institutional players can manipulate the market all day but the little retail trader dare not go there.
    frugal.rock likes this.
  3. Gringotts Bank

    Gringotts Bank

    Likes Received:
    Jun 30, 2007
  4. Boggo


    Likes Received:
    Mar 28, 2006
    I use Commsec on two accounts, never had the issues you describe.
  5. Smurf1976


    Likes Received:
    Feb 14, 2005
    I'm thinking there's some sort of IT problem here rather than any ill intent?

    I'm using CommSec with no problems.
  6. cutz


    Likes Received:
    Aug 10, 2008
    Yeah same,

    Always straight through on stocks, only options require authorisation.