Receiving the actual Bid Price

alanj answered 7 months ago …

Not necessarily. You will be filled at the current market price which can change from one moment to the next. If you are using a market order you could be selling at any price. And this could be a lot less than the bid price, especially if the order is placed during a low volume period. You could end up selling to someone who has set a very low limit price to buy. However, if you where to use a limit order set at the bid price you would receive no less than the bid price. I usually use a limit order slightly above the bid price when selling and slightly below the ask price when buying. And the order usually gets filled. If not right away it is generally filled not too long afterward. If you are not currently doing so with all your trading, I would strongly urge you to use a limit order, not a market order unless you have to sell at any price. Back when I used to use market orders I got caught and paid way above the asking price. Fortunately it was only for one contract. I now use limit orders.