I’ve been using Trading 212 for a few weeks now and am generally really pleased with it’s easy UI, it’s a great introduction into stock trading.
However, today I placed an order for Royal Caribbean before the stock market opened, and after it had opened Trading 212 picked the stock up at $75.44. However, this put me immediately in a deficit of several dollars, when the market was trading at closer to $72. I haven’t used buy orders before and nothing like this has happened to me in live trading. Google confirms the price never went anywhere near $75, so why has trading 212 bought at such an elevated position?
This also happened on a number of other stocks, but this was the worst, buying at 3/4% over market value is quite significant and has left a hefty dent in my profits today.
Trading 212’s Order Execution Policy states “Under the Markets in Financial Instruments Directive II (MiFID), we are required to have in place an order execution policy and to take all sufficient steps to obtain the best possible result (best execution) on behalf of our Clients.” I don’t feel like i’ve obtained best possible results!
Any advice would be really useful.