So fellow investors and traders.
I’m trying to trim down my portfolio and consolidating my investments. I had almost 10 pies and now I’ve half left.
I’ve seen that a good number of orders I enter to sell or buy fractionals, even with very healthy liquidity, execute at subpar price points. Prices which weren’t even touched at that minute or second.
I’ve Level 2 and other tools on my other brokers and I almost always struggle to find and understand why did my order execute here?
I know fractionals are in-house / OTC, but where do they derive their value/quotes from? Last Sale? Or NBBO?
How does their order engine give us quotes for fractionals?
I wonder if they release their execution quality reports on fractionals, comparing to NBBO, it would be awful, I’m assuming?
I opened a ticket with the support a month or so ago, the agent was uninformed and either deliberately gave me generic responses or was just plain unknowledgeable. Then he had the audacity to close the ticket. I opened it again but to no help so I just closed it because I was tired of it.
Today and recently it happens more and more to me. In the past I was executing everyday 100s of pie trades. I wonder what kind of prices did I get?
Please share your feedback!