Hi, novice trader here! - I have a pending “market” order for a company at a price of £0.57p. Does this mean I will be buying the shares at this price? The price has since gone up and the order is still pending! Thank you
You will get it at whatever the BUY price is when the order is executed. Beware there is a difference between buy and sell prices which is referred to as the spread.
Also, T212 displays the last trade price which could have been a buy or a sell so the displayed price could be the sell price. Thus the buy could execute at a significantly higher buy price (depending on the spread).
I generally use “limit” orders for both buys and sells because that will give you a guaranteed worst case price. So for a buy order you could enter a limit order with the price of 57p and IF it executes it will execute at 57p OR LESS. However, even if the price dips to 57p or below there is no guarantee that the order will execute particularly if it is on AIM but at least you have set a limit on the price
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