Placed pending order as markets closed

Hi

I placed an order to buy shares in a certain company listed on NYSE. The market is closed now. When the market reopens, will I get the same price as when I placed the order? What if the price per share is higher/lower tomorrow? Will I get today’s closing price?

Thank you

The best would be to set a limit order, it can happen that in case the price goes much higher you will pay that price if you have free funds available. Set a limit order and in case the price is up to that value your order will be executed.

1 Like

See here:

Wow. That’s a big difference. I’m really new to this.

I saw on the FAQs for pending orders, it says the markets are open 24/5. If that’s true then why didn’t my order to buy the shares go through? Why is it under pending?

As far as I know for investiments in shares (not CFD), the trading hours correspond to the open trading hours in the country where the respective share is listed (USA, UK, Germany…).

1 Like

Please please don’t use market orders!! I made some significant losses. I suggest you to look at pre-market price of the stock you are buying (up until the market opens) and then keep adjusting your limit orders.

1 Like

Placing an order (buy or sell) when the relevant market is closed is risky - you should always set a limit in case the price changes by a large amount on the market opening. Even if investing for the long term you’d presumably have a price above which you don’t want to buy. Prices often spike on opening and then settle down.

1 Like

Thank you for the advice. Still learning here. Thank God I got the shares for close to the same price.

If you are still in learning phase you can use the Practice account which is very good for starting investing (and not suffer costly mistakes).