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Share price differs to price shares purchased at


Guest SusieQ

Question

Hi, 

New to the platform and needing advice. 

Went to purchase shares today and the "buy shares" price was showing at for example 3.5

However,when I was submitting my order it showed me that I am purchasing on a higher price of say 3.9

This was hours ago and when I looked it up again just now, the price for buying shares is still at the lower rate like it was earlier today.

I'm confused! 

Thanks. 

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4 answers to this question

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5 hours ago, SusieQ said:

Hi, 

New to the platform and needing advice. 

Went to purchase shares today and the "buy shares" price was showing at for example 3.5

However,when I was submitting my order it showed me that I am purchasing on a higher price of say 3.9

This was hours ago and when I looked it up again just now, the price for buying shares is still at the lower rate like it was earlier today.

I'm confused! 

Thanks. 

Its possible that when you got a quote to buy you were over the volume available for that price and therefore was quoted a premium price to buy.  Reducing the volume to buy would give you the better price in that situation.

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Guest IG-Andi

Hi Susie,
Thank you for your query and thanks everyone for the contribution.
When you place an order, you are able to set a price level for which you want to buy or sell. Could this be your case?
 

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As @knicol46 said, it's likely that the volume of shares available at that exact price was insufficient to cover your order. 

For example, if there are 10 shares at 3.5 the offer will be 3.5. If you want to buy say, 100 shares then you'd only be able to get 10 at 3.5, and then would need to go the price higher to start to pick up the other 90. If you then average all this out you will end up with a price higher. This is only possible if you use the 'Get Quote' function on share dealing, however you will still have a 15 second period to decide if you want to actually take this 'worse off' price. 

On a leverage account the option to get filled at a worse level (i.e. increase the likelihood of a fill by working your order or slipping it down the book) is set from the left hand fly out. 

I've had a look at your account @SusieQ - however I can't see a stock you've bought at the price you've suggested, so I therefore wouldn't be able to look into the specifics of the deal. Let me @IG-Andi know if any further assistance is needed. 

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