Market order - partial filling


I don’t know if it’s normal but today by buying a position at the market price, the purchase was made in 2 stages (partial filling). Here is the screenshot of my history tab.

Is this normal? What does that mean?

How to avoid this and avoid price discrepancies? thanks in advance, Regards


It can be considered normal yes.

Let’s say you want to buy 1000 shares of an illiquid stock. Rather than waiting for someone else looking to sell exactly 1000 shares, you could be matched with person A selling 600 shares, and person B selling 400 shares. Similarly you could be matched with person C selling 20,000 shares.

There is no price discrepancy, your order was simply filled in more than one step during which the market has moved.

I’m not 100% on the fractional part - I assume if 212 have someone looking to sell a fraction of a share that hasn’t executed through IB, then they will match with someone looking to buy first and then leave the remainder open.

To understand if you got a fair market price (and you should have), you will need to check the exchange on book prices.

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There may be, depending of the price person A and B are willing to sell at.

Also in the case of T212, this is often due to part of your order being match on their own extra allocation on their books (the order venue will be OTC) and the rest of the market (i think it shows “trading venue” or “market”?).

With only one split, the price should be about the same, and both should be executed at market price.

With multiple splits (one OTC, many actual venues), each of the actual venue trades may have a different price, and in my experience T212’s price will be in that range, sometimes the best price, sometimes not.

Thank you @Dougal1984
I understand a little better

I thought that since the price was different between the “two” orders, the price would have been better if there was only one order, but I understand now that no and if it would have been one single order then it would have been at the highest price? is it correct ? so somehow I’m “winning”?

This is pretty much correct indeed.

thank you both, I still have notions to learn about the stock market and the T212 application in general

What stock were you trading out of curiosity - the best way to check would have been to look at the times the stock was traded on the exchange, and the highest/lowest price of the day as a barometer.

Either way - it all depends on your reason to invest. Myself I dont day trade, so it doesn’t matter as much to me, but I still care about the execution of trades on 212.

you mean you don’t make a market order? only limit or stop orders?

I only do market orders with a 2+ month hold.