If you’ve completed a trade that isn’t showing the price you saw when you had first submitted the trade:
- If you place a trade in dollars, SoFi converts that into a fraction of a share. A fractional share (Stock Bit), is a piece of a single share of stock you receive when you specify a dollar amount rather than a number of shares. Fractional trading takes place in real-time the same as Market Orders. There is a $5 minimum requirement to buy a fractional share or purchase order.
- If you place a Market Order, you are not guaranteed the price you may have seen because that was the last trading price. Your order will get the next best price, which may be slightly different, based on stock and market fluctuations.
- If you place a Market Order, when the market is closed (Market Order on Open), these orders will not execute until the next trading day. Due to after-hours trading, the price you see today may change overnight! You will get whatever the stock is trading at when your order goes through as a Market Order on Open.