By DominicWalsh · Posted
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Question
Guest didimakeamistake
Hello.
I placed my first order with IG (though not my first trade). It was after hours, I placed an order on the spreadbet platform. I input the price I wanted to sell in the 'price level' box and set stops etc... The following day I'd found my trade had been initiated some 10 points lower than the price I specified, with the stop some 10 points lower which resulted in me being stopped out, whereas I would've still been in the trade at my desired stop.
It was my understanding that this is a limit order, the price level is the price I want to enter the trade. What's the point in putting a price if the order just opens at a different (less favourable) price?
" Limit orders will usually be filled at your chosen price, or sometimes even a better price if one is available at the moment the order becomes filled. "
https://www.ig.com/uk/trading-strategies/types-of-order-42279-180220
Have I thoroughly misunderstood something here or has IG made a mistake?
Thanks.
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