Hi, I'm paper trading now, buying an ETF with a limit order (LMT) of let's say 5.055. The order fills successfully and then I go to "Account Window". There, when I look at my position I see an "Average Price" like 5.073. Why is this happening? Shouldn't my "Average Price" be equal or smaller than 5.055 since that was my limit price? Or is this happening only because this is a paper trading account and on a real account I can expect it will work correctly? Thanks
Or maybe this is because the "Average Price" there includes the commission paid for the trade as well? Thanks
%% IBKR is not comissions free?? And $5 [penny stock/stocks] ; sounds like you may have gotten a better fill than you deserve.And they may have figured the SEC fee ,which no way you will get out of [paying]when you sell.AS far as ''good fill /limit order'' on penny stocks; you may never get that price in real time. NOT a prediction; nor is the SEC a problem. Good question.
I didn’t think about IB LITE as I don’t use it, so if that’s what he uses then indeed he might’ve got a better fill than the limit price. Though I would be surprised to see better fills in a paper account where it’s difficult to determine the actual price that could’ve been gotten in live trading.
It's the commission, I've done the calculation and the price exactly matches the one with the commission added.
%% And really, its better for him to get a worse price/paper trade; + be surprised with a better fill,real time maybe. Sure cant count on good fills in $5.00 area-I would not anyway.,