When you place an order, we give an indicative price based on the current market data we have available to us at the time. When we execute your order you may find the actual price you need to pay may be different.
Additionally, understanding the difference between market and limit orders can help you anticipate how your trades will be executed. Market orders are executed at the best available price at the time of execution, which may differ from the displayed price due to market fluctuations. Limit orders, on the other hand, allow you to set a specific price at which you are willing to buy or sell, providing greater control over the execution price.
This could be for a number of reasons, but the most common is that the live price, taken from the market, reflects the ‘last price’ of the stock. This is the most recent price that the security was bought or sold for which we receive from our pricing provider.
Other factors that can influence execution prices include bid-ask spreads, which may be wider for less liquid instruments, and market hours, as orders placed after hours are executed at the live market price when the market reopens.
You can check when this price was actually executed by scrolling down to the grey timestamps at the bottom of the page when viewing a stock.
You can also review the exact execution price and trade details in your activity feed or on the contract note for further clarity.
When executing your order, we take quotes from multiple sources to ensure that we get the best price possible for you.
Prices constantly change, especially during periods of market volatility.
To further control execution prices, consider using limit orders to specify the maximum price you’re willing to pay or the minimum price you’re willing to accept. Additionally, avoid trading during periods of high market volatility, such as market open or close, to minimize unexpected price changes.