Selfwealth supports two order types for trading on the Hong Kong Stock Exchange: Market orders and Enhanced Limit orders. We plan to introduce additional order types in the future.
Market Order
A market order instructs the exchange to buy or sell a security immediately at the best available market price. The price is not fixed — if a stock is moving, the order will follow the market and fill across up to 12 price steps. Any quantity that cannot be filled within 12 price steps will expire unfilled.
Enhanced Limit Order
An enhanced limit order works similarly to a standard limit order, with one key difference: it can match across up to 10 price steps simultaneously (i.e. the best available price plus up to 9 additional steps).
When submitting an enhanced limit order, the following requirements apply:
Buy order: your price per unit cannot be more than 9 price steps above the current ask price, or more than 24 price steps below the last traded price.
Sell order: your price per unit cannot be more than 9 price steps below the current bid price, or more than 24 price steps above the last traded price.
What are price steps?
Price steps are the minimum price increments at which an order can be submitted for a stock on the HKEX. The increment varies depending on the current market price of the security, as shown in the table below:
| Stock Price (HKD) | Price Step |
|---|---|
| 0.001 – 0.249 | 0.001 |
| 0.25 – 0.495 | 0.005 |
| 0.50 – 9.99 | 0.01 |
| 10.00 – 19.98 | 0.02 |
| 20.00 – 99.95 | 0.05 |
| 100.00 – 199.90 | 0.10 |
| 200.00 – 499.80 | 0.20 |
| 500.00 – 999.50 | 0.50 |
| 1000.00 – 1999.00 | 1.00 |
| 2000.00 – 4998.00 | 2.00 |
| 5000.00 + | 5.00 |
For example, if AIA is trading at HKD $85.00, its price step is $0.05. You can adjust your price per unit one step at a time using the + and − buttons next to Price Per Unit.
What happens if the price moves more than 10 price steps away from my order?
It is common for stock prices to fluctuate rapidly after an order is placed. If the market price moves beyond 10 price steps from your submitted price, your order will remain active in the market and will either fill if the price returns to within range, or expire unfilled at the end of the trading day.