I traded yesterday LGGG ETF and the purchase price was around 2.5% higher than the market at time of execution ( The spike in the graph was my trade) . This trade does not appear be based on best execution, please can you review.
Probably best to contact IE CS directly?
This is the problem when the trades are market orders and timed. I’d rather if IE traded randomly
Invest engine corrected the trade. What is strange is the fact my old trade was reported in the lse trade set and this was not spotted by invest engine when the trade was booked…. I would recommend everyone check the trades are on market.
Hi @josh12 , sorry for the mix-up. Please don’t hesitate to give us a shout at support@investengine.com, and we would be happy to help clarify things for you.
This is concerning! So we now need to ensure our trades are executed at reasonable prices?
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In theory no, as invest engine have an obligation to find best execution. What is not clear is what controls they have and why the control seemed not to work in my case.
Had you not raised it, they might not have spotted it
On 07/04 a £600 trade was made at the top of a spike trades are not made at best price for the client I’ve contacted investengine 2 days ago got a reply of we’ll look into it . I’m waiting !
I am not certain what you are expecting IE to say. IE will say that you should be a long term investor so changes on a day do not really matter. IE will also say that trades are done once a day at whatever the price is at that time.
This is the problem with only making one trade per day. You have no say in when that trade is made.
Ultimately you have to decide if IE is offering you enough other benefits to counteract that problem.
If it is then you will have to live with it.
If it is not then you have the option to switch to another provider.
Are you saying this is the best possible price for a transaction if so we’re all guessing as to what price we want to buy and sell at.
I would expect that the “best price possible” is actually just the market price at whatever time the transaction is executed.
Yes, and IE might not have an interest in executing at higher prices but the market marker does
Carl great point its the market makers who benefit from these off market prices. Invest engine should be checking that the prices offered on online with the current market price.