Yesterday I sold 213 shares of CCL (Carnival) just before he deadline. I saw the live price had gone up 12% but your price was only 5.69% but I believed this to be indicative until the shares were sold.
However, I have only got the Freetrade price.
That is not fair. Freetrade gave me way less than my shares were worth in this case.
The “Freetrade price” is the price at which the order actually got executed.
The “market price”, wherever you got it from, is just an indicative average between the bid and the ask spread. There’s no guarantee that you are going to get that price, for a multitude of reasons that I can’t expand on now (market movements between order placement and execution, deal size, etc).
As for Freetrade itself, because of regulatory reasons, you are guaranteed to get the best price for the deal at that particular moment, or the order will not be fulfilled if the quote for the order is not within some observable acceptable quote range.
Keep in mind that Freetrade itself doesn’t show you live data, they are I think 15mins late, but even for brokers with live data streaming, you can get orders that differ significantly.
If you want to read more, I refer you to Freetrade’s Order Execution Policy. If you don’t understand what that is, or part of what I’m saying, I suggest you try to find some introductory material on how stockmarkets work, as that would be a better return on your time than whatever you are trying to do right now.
Even so there was a massive difference in this case and the price was up 12% right from the start increasing to 15% at the close. Yet Freetrade gave an unchanging 5.6% rise. I understand the concept of a buy/sell spread but I simply cannot believe I got close to the market price yesterday. This had nothing to do with a 15 minute delay. Looks to have cost me about about £200.
I still maintain that you’re wrong, but if you insist, you can raise it with Freetrade themselves in the in-app support chat, or give us the order ID from the contract note, and then we can search the order log from the stock exchange to see the prices at the time of execution. Maybe @finki can help with this.
I get my prices on the stocks icon on my iPad showing about 12% compared to 5.6% Freetrade. It’s surely too much of a difference. It is a US stock which I think means I have to deal by 3pm to get the trade made.
What I am saying is that Freetrade quoted that price right up to 315pm, unchanging. The US market opened at 2.30pm (uk time) and from then the 12% ish was being reported and changing on the iPad stocks icon.
I have emailed Freetrade to check it out.
I want to be proved wrong so that I can trust and use this site.