What Order Types are Supported?

Below are the order Types supported for trading AU stocks and ETF's

1. Market to Limit Orders (Market Order):

Execute at the best available price. Any unfilled shares will rest on market at that best available price. This order type provides immediate execution for the fillable portion while offering price protection for the remaining shares.

2. Limit Orders:

Allow you to specify the maximum price for buying and minimum price for selling. For example, a $100 limit order to purchase CSL shares ensures you pay no more than $100.

These orders provide price control but do not guarantee execution if the market does not reach your specified price level. Limit orders are particularly useful in volatile markets where prices can fluctuate rapidly.

3. Stop Order:

An instruction to submit a buy or sell market order if and when the client-specified stop price hits. For example, if you hold Qantas and its market price is $10, the stop-sell order of $10 will be executed and trigger a market order.

4. Stop Limits Order:

A limit order will be triggered if a predefined price is reached. For the Qantas sell example, if I set the limit price as $9 but a stop price at $10, the sell limit order will be triggered at $10 but it will only be executed at $9 or higher.

This limits downside while allowing control over execution price.

5. Limit + Take profit/Stop Loss Order

When the Limit Order is filled, a Take Profit Order and a Stop Loss Order are placed. When one is filled, the other is automatically cancelled.

6. Market + Take Profit/Stop Loss Order

When the Market Order is filled, a Take profit Order and a Stop Loss Order are placed. When one is filled, the other is automatically cancelled.