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Degiro broker suspicious order execution
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Degiro broker suspicious order execution

  #1 (permalink)
Trading Apprentice
Danmark
 
Futures Experience: Advanced
Platform: NinjaTrader, Saxobank,
Favorite Futures: ES, Forex
 
Posts: 19 since Oct 2013
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Degiro broker suspicious order execution

I have recently done my first trades on Degiro with trades taken in US stocks. On friday the 25th I traded in PSTG. I closed my position while the bid/ask showed 14.31/14.33 - a tight and consistent spread. I never saw the bid price go below 30 in the moments around my execution. Despite this my market order to sell was filled at 14.21. This significant slippage does not seem logical to me, since I was watching the bid/ask constantly and the stock was both liquid and rather calm at this point in the day.

Has anyone else experience similar with Degiro (or other brokers?).

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  #3 (permalink)
Market Wizard
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On 8/25 PSTG had - by far - the highest volume of 2017 YTD; about 5-6x average volume.
The daily range also was way above normal.

Besides, top of book regularly only shows relatively few stocks. And chances that these
pieces will be your fill are close to zero without colocation or resting limits.

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  #4 (permalink)
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Thanks for you answer.

I traded the stock after having screened the markets for extreme movers, so I'm very aware of that days volatility. When I said it was a calm period, I was referring to a specific period of the day around the time of my order fill. Since I was watching the bid/ask I think I should have a good idea about the stocks price action in said period.

Your point about the order debt is intesting as this could in many cases be the explanation. However in this case I only traded 30 stocks, ie. a total of around 360$ in absolute numbers. Taking this very limited trade size and the highly liquid market into account order debt doesn't seem like the real explanation to me.

Maybe I'm missing something entirely. They say the trades are done directly on respective exhanges (eg. NYSE or NASDAQ) but price information is delivered through BATS. Though i was watching the stock realtime on tradingview.com simultaneously with watching on the degiro platform. On tradingview aswell as degiro, I didn't see prices go that low


Last edited by superfrost; August 28th, 2017 at 09:45 AM.
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  #5 (permalink)
Market Wizard
Germany
 
Futures Experience: Intermediate
Platform: Other
Favorite Futures: ES, YM, 6E
 
Posts: 2,616 since Feb 2013
Thanks: 4,834 given, 6,380 received
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If you can rule out simple errors like including commissions/fees in your average fill,
only a time and sales snapshot can tell. If there are no other fills like yours around
yours within +/- let's say 15-30 secs, it could be worth a complaint.

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  #6 (permalink)
Trading Apprentice
Danmark
 
Futures Experience: Advanced
Platform: NinjaTrader, Saxobank,
Favorite Futures: ES, Forex
 
Posts: 19 since Oct 2013
Thanks: 1 given, 1 received

They say now that my price data is 15 minutes delayed, although according to their documentation and previous support correspondence I should have realtime BATS data. Pretty sure I was trading on realtime, as it followed tradingview.com prices rather closely. It might be difficult for me to find intraday level 2 data for fridays session, thus I might give them the benefit of the doubt this time.

UPDATE: I overlooked the point about time and sales, that makes sense and it should be easier to find for friday's session


Last edited by superfrost; August 28th, 2017 at 10:17 AM.
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