The following prices are just an example, but the situation is accurate.
Say I place an instant buy of UK stock @ £20 for example.
The stock price rice increases to £25.75 and this is shown in Freetrade.
I place an instant sell order at that price shown in Freetrade, I review the order which shows £25.75 and confirm the sell @ £25.75.
I then get a “Sell Complete” showing the sell went through at £24.45.
Why have my shares not sold at the price shown on the confirmation screen?
This has happened a couple of times and caused me to be down on a stock.
The prices are purely indicative and up to 15 mins delayed. If you want to know more accurately (or the stock is very volatile) use a live price through Google or Yahoo finance and it will always execute at the best price at that moment.
What others have said is accurate. Live pricing is not currently offered on , due to cost. As well as this, use limit orders. The price can change between you tapping buy or sell and the transaction being carried out. Even if takes only a few seconds. Limit orders will only execute at the price per share you set. Assuming the market conditions - the price is reached and there’s demand at that price/availability to buy - are met, of course.
My theory is that they wanted to make an app that was simple, and they’ve made it too simple. There’s a certain amount of complexity that is inherent to stock trading and probably shouldn’t be glossed over.
Everything should be made as simple as possible, but no simpler. - Albert Einstein, maybe.
If you target the app at inexperienced ‘investors’ who are going to do 90% of their work on the app, then the app needs to deliver more to avoid the newbie questions, particularly bid/offer spread.
If you’re targeting experienced investors who will have spent 99% of their time using multiple third party tools, live prices and level 2 order books then fine, keep it simple, but then you need to be more precise with the contract prices.
I am new to this app having come from HL. I occasionally check prices against HL which give you an actual live / deal price to be accepted. Whenever I have done this but then made the transaction on this app I have found the Freetrade price as good or slightly better than the HL price at the same time.
I have a different grievance which is how they value your investment on this app: it seems to be by buy price. That doesn’t make any sense: the shares I own are only of value in terms of their sale price, not what it would cost me to buy them a second time. Why would I be doing that?