When you place a market order, the final fill price may differ from the price displayed at the time of placing. To ensure you have enough cash to cover your order at execution, Selfwealth applies a buffer on top of market buy orders.
The buffer is a temporary hold on your cash. Once your order fills or is cancelled, any unused amount is automatically released back to your available balance.
Buffer tiers
Buffer amounts are based on the current offer price of each security:
| Offer price | Buffer |
|---|---|
| Under $0.01 | 20% |
| $0.01 to $0.10 | 15% |
| $0.10 to $1.00 | 10% |
| $1.00 to $50.00 | 5% |
| Over $50.00 | 2.5% |
Limit orders
No buffer is applied to limit orders, as the maximum price is fixed at the time of placing.
Ordering by value
If you enter an order by dollar value, the amount is rounded down to the nearest whole share. An order entered as exactly $500 may result in a holding below the ASX minimum parcel size of $500. We recommend entering a value slightly above $500 to avoid this.
ASX minimum parcel size
The ASX requires a minimum holding value of $500 when establishing a new position. If an order fails to meet this requirement and a fail fee is charged by the exchange, this fee will be passed on to your account.