Robin Hood/M-1 Finance share price questions

El_Mero_Mero

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I am invested in some stocks on Robinhood and M1 finance apps.

My question are as follows:

When I make a purchase on Robinhood or M1 and it lists the price at $12, but the actual real-time price is $10, will Robinhood charge me for the shares at $12 because they haven't updated it to the latest price, or will Robinhood charge me for the shares at $10 because that's the real time price (even though they haven't updated it on their app)?


Also, I waited for a stock share price to go down from $20 to $18 and then I checked on yahoo.com, stocktwits.com, and on the Robin Hood app before making my purchase, but my purchase went through not for the price that I was expecting.

Since I triple-checked and I waited for awhile to see that the price was staying at $18, I don't know why I didn't get the $18 price, but I got the $20 price instead.

Even after I made my purchase, for the next 10 minutes the stock share stayed at $18. So I don't see how I would have got the $20 price.

I say this because yahoo.com and m1 finance are not always showing me the most current price. Sometimes it shows me the price from about 10 or 15 minutes ago. But I double checked this before making my purchase. Any idea what is going on here?
 

Swirv

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What kind of order are you placing? If it’s a market order it will be the best price at the time, some time there is price slippage too.

For explanation of order types, click order types in the upper right corner of the buy page.
 

El_Mero_Mero

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Thank you for your reply. They are all "market orders" that I place.

So even if Robin Hood has a stock listed at $82, but the actual real time price is $80, I should be getting the stock shares sold to me at $80, right?
 
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Robinhood doesn't charge you or sell stocks to you. What happened was that you placed a Market Order to buy shares at whatever price a seller was offering.
If you want to buy a stock for $18 and no more, use a Limit Order
If you want to buy a stock at whatever price a seller is offering, use Market Order
Look up what Level 2 Market quotes are to get a better understanding about market prices
 
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