Can anyone explain this? Bought £5 of HCMC on an invest account but now its showing I bought £5.25 and has automatically executed a sale to cover the difference.
My cousin is about to post. He had a similar thing just happen to him. Trading Invest account opened SHORT positions after he sold
I think it may be the same problem but this wasn’t a premarket order. I set the market order at a value of £5, in the past when I’ve done this and the price has changed it has either cancelled my order or just changed the amount of shares when it was filled. The sell order they put on hasn’t executed yet either. Looking at the Facebook groups it’s happened to quite a few people today and noone has a solid explanation of why. This is a few pence so I’m not that fussed but it wouldn’t be good if it happened with a substantial amount of money.
When you place a value order, it calculates the approximate number of shares and sends the order to the intermediary/exchange. The order gets filled as a number of shares rather than a value. If the price is changing rapidly the order gets filled with the number of shares before realising the difference in value, so you end paying more than you wanted.