Last updated on: 16/03/2020
Player shares may be bought in FOOTBID using two distinct approaches:
(1) Best buy button: by clicking a green button with the legend "Buy @ (best price)", resulting in the immediate purchase of 1 share of the player at the best price displayed [FAQ 4.13].
In some cases, the best buy button may be disabled [FAQ 4.16] or the order may be refused as the best buy price has changed meanwhile (e.g. another transaction of that player's shares occurred between the moment you have loaded the page and pushed the button).
(2) Custom buy order: by pressing the icon, selecting the "BUY" tab and submitting the custom order form after properly filling in the number of shares to buy, at which price and until what deadline (i.e. the order will expire if not completed until that date, at midnight).
Once placed, the FOOTBID matching algorithm [FAQ 4.8] will continuously run and try to find corresponding sell orders from other users. Every time there is a match, and as long as your buy order is still open [FAQ 5.3] and you still have enough funds, a transaction will be automatically executed.
The best buy button may often be disabled for several reasons. For instance, if you do not have enough funds to buy a share of a given player, you will be inhibited from doing so.
Another case where the best buy button may be disabled is if there is no supply in FOOTBID marketplace [FAQ 4.5]. This means that no one is currently interested on selling a share of that player, hence no best buy price can be calculated. In these cases, you may place a custom buy order and wait for a matching sell order.
You may check the reason for the inability to use the buy button by reading its tooltip.
If you are using the best buy or sell buttons, you may check the tooltip and know if the best price execution is being supplied by other users or the FOOTBID platform. This information will only be displayed when these buttons are not disable and you may buy [FAQ 4.16] or sell [FAQ 4.17] a share using this option.
The custom orders are, by nature, only matched on the secondary market [FAQ 4.19]. Therefore, by default, you may assume that is the case. Nonetheless, if no supply or demand is provided by other users, FOOTBID may suggest purchasing or selling shares on the secondary market with explicit buttons for it within the custom orders form.