Limit Orders
SelfWealth allows clients to place Limit orders when trading US Securities. All orders on the US Market expire at the end of the trading day and cannot be extended.
A limit order allows you, the investor, to specify the price at which your shares can be bought or sold.
Market Orders
Market orders are transactions meant to execute as quickly as possible at the current market price. A sell will match the highest buyer and a buy order will match the lowest seller. You can only submit this type of order during US market hours.
US market orders differ to ASX market orders. A market order on US stocks is an order to buy or sell a security immediately at the best market price. The price is not limited. If a stock is falling, the order will move with the market in order to fill. ASX market orders will limit your price to the value of the first filled unit, and not move with the market in order to fill.
Will you add more order types?
More order types will be added in the near future for trading US securities. We will announce when these become available.
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