The reason why an order could get filled at a different price depends on the order type. Have a look at the chart below to see the reasons for each:
Market orders do not guarantee a specific fill price and may be subject to slippage.
If you wish to have more control over the price you get filled at, we recommend using Limit orders, as that way, you can set a Limit Price.
Stop Market Order
A Stop Market Order states that one is willing to buy or sell at the market price when the Trigger Price reaches the Stop Price.
Stop Market Orders can get filled at a different price than the Stop Price if the orderbook moves significantly between the time that the order triggers and gets filled.
You can avoid slippage by using Stop Limit Orders instead. With Limit orders, it will get executed only at the Limit Price or better. There is a risk, however, that if the price moves sharply away from the Limit Price, there may not be an order to match it and it will end up resting in the orderbook instead.
Limit Orders are meant to execute at the Limit Price or better. This means you can get executed at Limit Price or lower for Buy orders and at Limit Price or higher for Sell orders.
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