Best execution broker?

Wednesday, Feb 28 2018 by
4

looking at reviews of execution only brokers there are many. But fundamentally none seem to cover what I believe is the most important and fundamental aspect of the broker.
How quick and reliable are they at executing a trade that is either falling rapidly in price or been bought rapidly?
I use Iweb and although very good value I have found it almost impossible on many occasions to execute a trade in those circumstances having to use stop loss or limit orders to execute the trade. Xo seems to be a little better.
Could readers give their opinion on their experience in that area to the platform they use and give everyone an idea of the reliability of platforms out there from a user point of view.

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5 Posts on this Thread show/hide all

plucking_aim 20th Mar '18 1 of 5
1

I moved from XO over to iWeb to try out their differing orders but frankly found them shoddy at order filling in either buying or selling. Plus there were multiple shares I just could not put a stop loss on which is very strange and put me off massively. Even went as far as ringing in a few times which was laborious to put the stop loss on which they could do but failed to explain or resolve the problem each and every time.

Moved back over to XO which is far less flash and has far less features but they perform the basic tasks very well and have never failed to perform a buy/sell or set a stop loss so they'll do for me. Only strange thing I found was they sometimes misquote a share price every so often which startles the heart but a quick verification check by other means sorts this out.

For me iWeb were all mouth no trousers.

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tony777x 4th Apr '18 2 of 5

In reply to post #341933

My experience is the same as yourself. I have used iWeb and found they quite often fail to give a price and do not make it clear if you place a limit order that it is active. XO seem to be more reliable and execute well even though they are as you say quite plain.

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Logic 7th Apr '18 3 of 5
1

If you have sufficient funds, I have heard good things about interactive brokers.

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brucepackard 8th Feb 4 of 5

Thanks for this. I've been using Lloyds Direct Investments, but getting increasingly frustrated because they send me annoying emails saying I've done a transaction and need to log in. When I phone up to ask what's going on, I haven't traded, I discover it is an automatic dividend reinvestment. Or they send me a form that they say the US tax authorities demand I fill in, but I don't own any US shares and when I phone up they can't tell me why the computer has sent me the form.

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HumourMe 8th Feb 5 of 5

I switched from iDealing to Saxobank last year for the international cover. It was between Saxo and IB. Saxo don't cover illiquid AIM shares, although some of the more liquid ones are trade-able. You can have separate accounts for currency types if you meet a threshold. Customer support is better by phone/human than via the platform. However, I've found their execution and order types excellent and their charts a work of art.

Look closely at their charges though. I've a SIPP which makes me exempt many such as inactivity fees etc.. On the plus side you can trial their platform to see if it is worth ponying up. There is an inherent conflict between low cost and range of offer unless you also have scale ...

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