Standard Bank Online Trading Website.

[JasonP]

Simpler, better, faster..... After being on this site for about a month now, I have had nothing but problems with connectivity, down-time of the site and general unstability that does not give one a comfortable feeling... The cherry on the cake was a couple of minutes ago I received an SMS that my stop loss order had been reached for M&R shares I hold in my portfolio, my strategy is a 10% stop loss, and the share is falling but it is still far from this limit. Puzzled and confused I logged onto the system only to find that the system had overwritten my stop loss by an amount of 63000c, that is R630-00, with no intervention on my side.. I subsequently received a call form the helpdesk telling me that they had cancelled my stop loss as there seems to be a "technical issue"??? What concerns me is the system overiding a stop loss strategy at it's will which in turn could place incorrect sell orders and consequently lose money, anyone else have the same concerns, or isthis just me???

[#2]

SFM will compensate you if you officially complain to Kurt or Richard. If you can prove your case they will do so. I must admit that they have always been very fair in this respect! But you must take action now!!!!

[JasonP]

Thanks, they stopped the automatic sell order when they realized there was a technical problem. What really concerns me though is the following..One sets a stop loss strategy for a reason, this is to limit your losses when the share price drops, so it is a "no worry" strategy that should take care of itself in a falling market. What would happen if one is away on holiday/business with no access to the system to check it's integrity and the system decides once again to do it's own thing, the abiltiy to act quickly when one is on another continent is severely impaired. I hope the new upgrade on Friday takes care of this "bug" (amongst others!!) or I will be sure to move my account elsewhere to a more stable environment.