Gemini Review: Yesterday I put in a sell order for… | ICORating


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Yesterday I put in a sell order for…

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Yesterday I put in a sell order for 1.58 BCH while the price on the live charts was showing $234.99 per BCH. Since I am not using "active trader" I'm not given the option to place a limit on the order, only market buys and sells (which is absolutely absurd and there's no reason for that, other than to screw people into buying or selling at inflated/deflated prices). Somehow, even though there's plenty of volume, my sale goes through at $214 per BCH. All the while, there are buy orders on the books for $230+. By the time my sale goes through, the price is already back up to $232, so I am instantly at a loss. Fast forward to today. I waited for the price to drop to around $190 before trying to buy back in. I'm looking at the order books on the charts, there are dozens of orders from $191-199 worth several dozen BCH. When I go to buy using the money from my sale yesterday, it's giving me a price of $204 per BCH (PLUS a $5 trading fee!) even though the price on the chart was currently $190 and there was a sell wall of hundreds of BCH between what the current price was and $204. Had my 1.58BCH sale gone through at the posted price of $234.99, I would have netted $366.28 ($371 minus $5 trade fee), If i bought back in at $190 per BCH, I should have been able to buy 1.9BCH had I received the proper amount. Since I only got $324 for my sale, and my buy today went through at $204 per BCH, I was only able to buy back 1.6 BCH. My entire trade netted me a profit of 0.013 BCH, when it should have netted me 0.3 BCH had it given me the prices listed on the order books. What should have been a $60 profit (or even more without the ridiculous fees) became a profit of $2.65. W.T.F!!!I thought market buys just purchased whatever the lowest sell price on the books is at the time? Why are they going through $20 lower on sells and $14 higher on buys ontop of ridiculously high fees? Why is there no limit buy option anymore? I feel totally cheated right now.
Chris Spiegel
20 Mar 2020 by Trustpilot

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