Australian (ASX) Stock Market Forum

Nabtrade failed orders

Jump to new
B

Bob111

Joined
19 January 2018
Posts
57
Reactions
29
Hi,

Just wondering if someone might have some advice. I'm in a couple of leveraged ETF positions through Nabtrade and they are going the wrong way now but when I tried to sell I just got and error saying it couldn't be completed. No other details. I've been trying to contact (phone,email, facebook) Nabtrade all day but they aren't responding. I can't get out of these positions and can't get help from nabtrade.

Thanks
 
Don't know the platform
Do you have a conditional sell order or just sell at market?
Maybe there aren't any buyers at whatever you have set your sell at?
 
You're the second person to raise this issue on ASF today. [re BEAR, BBOZ, BBUS ]
Unfortunately I don't know what's going on. Comsec seems to be OK although I haven't tried to actually buy them because I don't want them.

These ETFs are Betashares and their share registry is Link Market Services if you want to ask either of them.
 
tech/a said:
Don't know the platform
Do you have a conditional sell order or just sell at market?
Maybe there aren't any buyers at whatever you have set your sell at?
Click to expand...
@limit orders but they were coming back with failed. Finally got through at 3:59pm. They can't work it out either.
 
peter2 said:
You're the second person to raise this issue on ASF today. [re BEAR, BBOZ, BBUS ]
Unfortunately I don't know what's going on. Comsec seems to be OK although I haven't tried to actually buy them because I don't want them.

These ETFs are Betashares and their share registry is Link Market Services if you want to ask either of them.
Click to expand...
These are international but I think it is a Nabtrade fault.
 
i trade ETFs (though not leveraged ETFs) thru nabtrade and i've never received any error like that before

have you checked whether there are any public announcements for the specific ETF in question? like a trading halt or something?

is your offer way off where it's trading at, many brokers will reject orders that are too far away from the current market price.
 
There was an IRESS technical fault last night. They don't know what it was or if it will happen again. (Insert lots of swearing here)
 
Sharkman said:
i trade ETFs (though not leveraged ETFs) thru nabtrade and i've never received any error like that before

have you checked whether there are any public announcements for the specific ETF in question? like a trading halt or something?

is your offer way off where it's trading at, many brokers will reject orders that are too far away from the current market price.
Click to expand...
Yeh it was a very weird one. I was definitively in the spread but it sounds like a glitch. They have said just try and place the orders again tonight. I guess if they don't go through again my conversation with them tomorrow will be about compensation.
 
Just occurred to me, that many leveraged ETFs in the US markets had a name change yesterday. They had to do this as Direxion decreased the leverage on many (all) of their 3x leveraged products. The new leverage is 2x. This change was to come in on May 19th but was changed to March 31st suddenly.

I was given 6hrs notice as I had been trading them in the prior 24hrs.
 
peter2 said:
Just occurred to me, that many leveraged ETFs in the US markets had a name change yesterday. They had to do this as Direxion decreased the leverage on many (all) of their 3x leveraged products. The new leverage is 2x. This change was to come in on May 19th but was changed to March 31st suddenly.

I was given 6hrs notice as I had been trading them in the prior 24hrs.
Click to expand...
Not all. Just 10 I believe?
 
Bob111 said:
Hi,

Just wondering if someone might have some advice. I'm in a couple of leveraged ETF positions through Nabtrade and they are going the wrong way now but when I tried to sell I just got and error saying it couldn't be completed. No other details. I've been trying to contact (phone,email, facebook) Nabtrade all day but they aren't responding. I can't get out of these positions and can't get help from nabtrade.

Thanks
Click to expand...

It may be that their systems are overwhelmed. A couple of weeks back when the panic buying and selling started, I tried to do a funds transfer from my Nabtrade High Interest Account to my Nabtrade Cash Account so I could do some buys.

After entering all the details and pressing the confirm key or whatever it is called, I got a spinning wheel for about a minute and then a text box that was just blank. That box usually gives confirmation of the transaction and a confirmation number that you can record. I then checked my balances and no funds had been transferred. I repeated several times within the space of an hour, each time with the same result, and then gave up.

I would make sure that the sales haven't executed and then try another time when they might not be as busy.
 
You're lucky if you can get any info at all. I can log in and see the home page with account $, but nothing else. When I try to change pages, it tells me I'm logged out.

NABTrade, in its early days, had all sorts of problems. In the recent past they have been fairly reliable.

What they are really bad at, though, is telling everyone when there are problems, and giving an ETA for the problems to be fixed. Most of my trading / investment happens elsewhere now, because of this unreliability and poor communication.

KH
 

Similar threads

derangedlawyer
Concerned over Commsec executing "at market" orders only at their discretion
Replies
7
Views
2K
qldfrog
qldfrog
G
Tips for creating orders when you can't be at the screen (e.g. work, sleeping)
Replies
6
Views
4K
grah33
G
darkhorse70
The Beginner Trader's Manual Guide
Replies
9
Views
20K
commoyo
commoyo
prawn_86
Origin Energy - lisiting incorrect credit default
Replies
6
Views
5K
Some Dude
Some Dude
D
Overseas broker: Is this a scam?
2
Replies
25
Views
8K
Julia
Julia
Top