Dear Fellow Bogleheads
When dealing on the LSE, how do you deal for ETFs and Investment Trusts?
My broker (Barclays) gives choice of "quote & Deal" but since Covid-19 that rarely seems to lead to an improved price.
Alternative is a a limit order.
Do you set your highest price as the Offer (Ask) price?
Or something else?
Many thanks in advance for any thoughts.
Valuethinker
Limit orders on London Stock Exchange
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Re: Limit orders on London Stock Exchange
With our current broker (IBKR on LSE) it takes me longer to do our annual rebalancing vs our previous broker (Schwab International on USA bourses). I WISH IBKR had a trading platform and customer service even 50% as good as Schwab International. If Schwab let us trade Irish domicled UCITS ETFs on the LSE we'd go back to them.
With IBKR we get a bid/ask spread. I start outside the spread and little by little I change the transaction offer closer and closer to the spread. At some point the transaction clears. It takes me 1 to 2 hours each year. With Schwab it was 10 minutes.
With IBKR we get a bid/ask spread. I start outside the spread and little by little I change the transaction offer closer and closer to the spread. At some point the transaction clears. It takes me 1 to 2 hours each year. With Schwab it was 10 minutes.
KISS & STC.
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- Posts: 49038
- Joined: Fri May 11, 2007 11:07 am
Re: Limit orders on London Stock Exchange
Thank you.galeno wrote: ↑Fri Jun 11, 2021 5:08 pm With our current broker (IBKR on LSE) it takes me longer to do our annual rebalancing vs our previous broker (Schwab International on USA bourses). I WISH IBKR had a trading platform and customer service even 50% as good as Schwab International. If Schwab let us trade Irish domicled UCITS ETFs on the LSE we'd go back to them.
With IBKR we get a bid/ask spread. I start outside the spread and little by little I change the transaction offer closer and closer to the spread. At some point the transaction clears. It takes me 1 to 2 hours each year. With Schwab it was 10 minutes.
Re: Limit orders on London Stock Exchange
Typically I try to set the limit at the mid price between bid/ask. You should have good results filling if it's a liquid security...Valuethinker wrote: ↑Thu Jun 10, 2021 6:19 am Do you set your highest price as the Offer (Ask) price?
Good luck!
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- Joined: Fri May 11, 2007 11:07 am
Re: Limit orders on London Stock Exchange
They tend to be Investment Trusts (sometimes in FTSE350, sometimes not).Ben1337 wrote: ↑Mon Jun 14, 2021 2:01 amTypically I try to set the limit at the mid price between bid/ask. You should have good results filling if it's a liquid security...Valuethinker wrote: ↑Thu Jun 10, 2021 6:19 am Do you set your highest price as the Offer (Ask) price?
Good luck!
My sense is the marketmakers can see a retail buyer coming (one reason I tend to buy round numbers of share 1000 etc -- although I think that don't
Thank you!