Hi every one ,i need some urgent help with trading law's in US
I leave at the Middle East and it is very hard to me to find info
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Hi every one ,i need some urgent help with trading law's in US
I leave at the Middle East and it is very hard to me to find info
That's the story :
On July 10 2014 I asked my broker to buy for me shears SPCB At Nasdaq, I asked to pay not more then 9.4$ limit price .
My account got 2000 shears and & charged 18,800$ +broker commission 60$.
Looking at Nasdaq report for this day I found out the the deal was on 9.22 $ and not 9.4. $
Is that legal ?
Can the broker pot in his pocket 360 $ or he have to give it on market price ?
I need to know what is the law , and where can I read it on the net
You just said you asked your broker to "buy shares". Did you specifically tell him to buy 2000 shares?
KenPo is of course correct. Contact the broker.
But if you asked for a "9.40 limit order", and the broker submitted the order, you are asking for the shares at whatever price the market wants to give you, up to 9.40. If it is a thinly traded stock, I do not doubt that the market makers saw that order and filled it per your instructions, up to 9.40.