One Example of how FORWARD selling works...5 Nov 2019 18:30
Few years back....i owned a share...it was a share i had for ages and was in DEMAND....i tried to sell the share online ...i couldnt i was asked to phone in....so i phone in to do the TRADE over the phone....i was told SORRY you could not sell your share...as it wasnt settled.....i goes to them i have paid you for them shares months back....so what do you mean its not settled....i was told there is nothing they could do and that i had to try the following day.....which i did...but still no luck....i took about a week for me to sell my STOCK..the one which i owed outright....they never said it or admitted to it....i know for a FACT my stock was borrowed and forward sold.....whats INTERESTING is the FACT.....when i was able to sell some placing shares came into play.....to my knowledge what had happened....my broker knew placing shares were coming to the market....and they decided to sell my shares for their own benefit or lend them to someone else ( most likely a placee )...
Before anyway says anything it wasnt a dodgy broker it was TDW now ii
so it does happen...i have experienced FIRST HAND myself.....this is the reason why most put HIGH limits on their stock.....its a pity with ii they have limits as to what limit you can put in...for example....lets say EUA is 3p a share ii will not let you put a limit of say 10p....they will say its too HIGH.....why they do this i dont know....maybe they are in this forward selling business and et some kind of commission i dont know.....what i do know they try to deter you from doing it.....
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