All,
Something dreadful just happened, i was trading 2ukl, when I wanted to sell, I couldn't get a quote through my broker online, I called and explained the issue, price kept dropping and the guy at the end of the phone couldn't get a quote either.
He put me through to dealer who had to try a couple of times to get a quote and explained that the MM stopped quoting online for that etf!!!! He eventually managed to get a quote and sell for me. By then I had lost about £100.00 by the time I managed to eventually sell.
The trader explained that MM don't have to give quotes online if they don't want to. I have never had this happen to me and quite frankly, I can live with £100 loss, but it could be a lot worse for me or others who trade bigger.
Luckily I am trading thin at moment because of market uncertainty but if i was all in, this would have cost me a lot more.
Question, is that right that MM don't have to quote online? I just find it absurd. I asked the trader if they did that for the own financial profit, he said probably not. Only thing I can think of is MM mouse or keyboard stopped working!
I am quite sick really and put off trading now. :cry:
Something dreadful just happened, i was trading 2ukl, when I wanted to sell, I couldn't get a quote through my broker online, I called and explained the issue, price kept dropping and the guy at the end of the phone couldn't get a quote either.
He put me through to dealer who had to try a couple of times to get a quote and explained that the MM stopped quoting online for that etf!!!! He eventually managed to get a quote and sell for me. By then I had lost about £100.00 by the time I managed to eventually sell.
The trader explained that MM don't have to give quotes online if they don't want to. I have never had this happen to me and quite frankly, I can live with £100 loss, but it could be a lot worse for me or others who trade bigger.
Luckily I am trading thin at moment because of market uncertainty but if i was all in, this would have cost me a lot more.
Question, is that right that MM don't have to quote online? I just find it absurd. I asked the trader if they did that for the own financial profit, he said probably not. Only thing I can think of is MM mouse or keyboard stopped working!
I am quite sick really and put off trading now. :cry:
Market Makers not quoting
