We offer several types of orders:
Limit execute & eliminate
An order which executes as much of a trade as possible at a specified market price. If there aren’t enough shares available at the specified level to fill the order, the maximum possible number of shares are executed and the rest of the order is cancelled.
Limit day
An order which executes once the market price reaches a specified level. If it isn’t filled by the end of the trading day, the order will expire.
Market day
An order which executes immediately in full if enough shares are available. If not, the maximum possible number of shares are executed and the rest of the order remains outstanding until the end of the trading day. This order type is unrestricted by price.
Stop market day
A market day order which executes in full when a specific price (the stop level) is surpassed. If there aren’t enough shares available, the rest of the order remains outstanding until the end of the trading day. This order is often used for locking in profits or limiting losses.
When placing a Share Trading order there will be several expiries to choose from that change how an order is treated. They are as follows:
Day order
A day order will last for the entirety of the trading session that it is placed in and will delete itself at the end of the session.
e.g. if a day order is placed for a US stock at the start of the main US session it will remain working until the order is fully filled or until the end of the main session that day.
Please note that for US shares, a regular day order will only work in the market for the main US session (9:30am to 4pm Eastern Time).Day (all sessions)
For US shares that we offer 24-hour trading on there is the option for a Day (all sessions) expiry. Orders with this expiry type will work through all sessions and be deleted at the end of the US post market session (8pm ET).
e.g. A Day (All Sessions) order on a 24 hour stock placed at 9:30am AEST would expire at 10am AEST that day, a Day (All Sessions) order placed at 10:30am AEST would expire at 10am the next day.
Good til Cancelled (GTC)
A good til cancelled order type will work in a market until the order is filled or until the order is manually cancelled. This allows the order to work over multiple days.
e.g. If you place a good til cancelled order that is half filled the day you place it, it will remain and work in the market the following days until either the rest is filled or if you cancel it (cancelling the order would still result in the current fill applying to your position).
Please note for US 24 hour shares. A GTC order will only work in the market for the main US session (9:30am to 4pm Eastern Time). You are able to amend, and cancel GTC orders in the pre (4:00 a.m. to 9:30 a.m. ET) and post market (4:00 p.m. to 8:00 p.m. ET) though these orders will still only work in the market during the main session. During the overnight session (8pm to 4am ET), GTC orders are unable to be amended or cancelled. This means that funds or shares reserved by buy/sell GTC orders will not be able to be used.