There appears to be a difference in the change-percentage between BUX and NASDAQ (and also compared to third party apps). On numerous occasions the difference is around 1%. Sometimes more. That’s problematic. I thought it was perhaps due to delay or something, but that doesn’t seem to be the case (can’t prove it though). Even after the market closes or when volatility is low the percentage is different. Below a snapshot of May 11th just after the market closed. Would you mind looking into this? Thanks!
Also before opening of NASDAQ (10:20 Netherlands UTC+2), the share price is still off. I know 10 cents or so doesn’t look like a big difference, but it is when you own a more significant amount. Can this be fixed?
Hi BUX team, @YorickBUX @Fergus
I’ve reported this issue already several times, but so far I have not received a very good reply. The only explanation that I’ve received so far is that there is a delay in showing the price and as such there can be a price difference between NASDAQ price and broker price. However, that’s not an answer nor a solution to the issue.
I’ve shown the price difference now on several occasions (during trading hours and after hours).
I now did the same during premarket, when the price has not yet moved from the previous closing price. I compared the price with three other brokers (IBKR, DeGiro and WeBull) and also with NASDAQ itself. As you can see below, they all say the closing price was $11.02, while BUX is the only one that says it’s $10.93.
From what I’ve learned so far, the difference (as measured on different occasions!) is mostly around 0.8% and 1% compared to other brokers and NASDAQ. Literally always in favor of BUX or the market maker.
This makes me feel like commission free trading in American stocks is not really true. In the background a margin of 0.8-1% is withheld from the investor. Just to clarify, this difference is not caused by the daily exchange rate difference and also not the FX-fee BUX charges (that’s only charged when I actually trade the share), but you know that already of course.
Please, solve this issue!
0.8-1% difference may not seem like much when the share price swings around $10.00, but when you own 1,200 shares, it’s a painful difference. Moreover, that difference becomes more painful when the share price increases to (for sake of example) $100. Then that difference equals approximately $1,200. That’s unacceptable.
Below screenshots from the above mentioned sources during premarket, with price not having moved yet.
I also received a reply/explanation from Timo Oppermann by mail.
However, when I replied on the 10th of June, I did not receive further explanation.
Hey @anon67361218, sorry to hear this. I’m on it right now!
Hi @anon67361218, like Timo mentioned before we trade AST SpaceMobile over Xignite-US. The industry standard is showing the trade price (so it can be either bid or ask). In our BUX Zero app we always show the bid price. Some other brokers decide to show an average of the bid and ask price. So in your case if you want to sell your stocks on degiro for example the bid price is still the same ($10.93). The prices that we show in our BUX Zero app are an estimation.
Hi @Fergus, if you check the screenshots, you’ll see that DeGiro and IBKR both say that the bid was $11.02, so this is not the reason why BUX shows it to be $10.93. That was not the bid price. Also not the ask price. Also not the middle between bid and ask.
I think the issue here is that we don’t show the official close price, but the last traded price at close. It’s a small difference due to the closing auction. We’re working on this!
I think the most important thing is that you’re worried about the execution price of your investments; I can assure you that we always make sure we apply best execution to make sure your order is being executed at the best available price.
Hope this helps!