Brokerage is charged when an order is:
- Filled completely, or;
- Partially filled and is cancelled or expires.
Please note: this article discusses how brokerage fees are applied to different order types. If you require a list of brokerage rates for all markets offered by SelfWealth, please click here.
How is brokerage charged on sell orders?
If submitting a sell order, brokerage will be taken from the proceeds of your sale.
In the unlikely event that the proceeds of the sale are less than the brokerage fee, the difference will be taken from the relevant cash account, which may send it into a negative balance.
How is brokerage charged on buy orders?
If submitting a buy order, the brokerage will be deducted from the total order value you have placed.
For example, if you want to buy $5,000 of a security, that $5,000 will include the brokerage fee.
If submitting a quantity/units order, the brokerage fee will be added to the total estimated value. For all buy orders, you will need to have sufficient funds available in your account to be able to submit the order.