Sell at market executed at below bid/ask?
- Thread starter turkeyneck
- Start date
I hate etrade. I will never use them again. I've had many similar problems like the one you just mentioned. Their customer 'support' doesn't give a crap about you either, not that many other brokerages are much better.
Just to confirm what the earlier posters wrote, for the much of the second 15:36:36, the best bid on X appears to have been exactly 40.71, which is what you got.
A significant majority of the shares traded with the timestamp 15:36:36 (comprising many trades and over 3000 shares) were also traded at 40.71.
My conclusion is that you got a price at the bid rather than below. It seems to me that your broker seems to have given the exact price they should have.
As I said earlier, use a limit order if you're concerned about these issues. In fact, I think that everyone should use limit orders all the time, provided the broker isn't charging extra for them (nor should they, IMO).
FYI Etrade does not provide market data from all ECNs. Also E*Trade's execution is very slow. Furthermore, MM's aren't required to provide best execution 100% of the time.
IMO you could gather all the facts, call etrade and probably get the few dollars. It is possible that the .71 quote was not part of the data feeds that etrade provides.
IMO you could gather all the facts, call etrade and probably get the few dollars. It is possible that the .71 quote was not part of the data feeds that etrade provides.