Above online market size problem!

[liam1om]

Hi,

I've only just recently started trading but I frequently get a message of "above online market size " when I try and buy. I am currently with comdirect. Has anyone else had this problem with this broker or would it be the same with all of them???

I would really appreciate some help,

thanks,

Liam

 

[options]

Why not ask them?

 

[JonnyT]

I've had this problem both with Halifax and iDealing.

Halifax will only do these deals over the phone costing more commission.

iDealing call you within two minutes and offer to go direct to the MMs whilst you wait. Bloody great service.

My understanding (From Halifax) is that MMs set the maximum online dealing size and change it sometimes to rediculously low values.

JonnyT

 

[liam1om]

Thanks Jonny T. Comdirect is the same, you have to phone them up to complete the trade but when you phone they put you on hold for about 5 mins while they transfer you to a broker, by which time its too late.

Can anyone recommend a good broker? One which answers the phone straight away?

thanks,

Liam

 

[GreyingSurfer]

Schwab are good at handling larger than NMS orders. Their systems pass it on to a dealer automatically if it can't go through at once. You get the best service if you have over £100k with them, or trade more than 50 times a year, then they give you a special phone line to ring and they do almost always answer at once.

 

[liam1om]

thanks peter. I will look into that. I think comdirect do the same sort of thing, but they cant tell you how long it will take so it may take many hours to put it through.

 

[cassiopeia]

I moved from Comdirect to idealing specifically because of their inability to take quick action when the NMS problem arose. They really should have solved that problem by now.

NMS is a real problem with mid and low cap compaies, every time the electronic NMS reduces.

 

[blackhawk]

I tried this morning at about 9.30am to deal with comdirect with an on-line sell and receieved an NMS response even though the comdirect quoted size was much larger than I wished to deal.

I telephoned, received an immediate answer and the broker dealt straight away. The only wait I had was while he placed the order. No problems and a quick sell.

Perfectly satisfactory response as far as I am concerned.