What type of orders can I place?
Market Orders:
A market order is an order to buy or sell securities at the prevailing market price.
For example, if the market order is a buy order, the order will be placed at the price set by the lowest seller in the market at the time the order is placed. If for any reason your order does not trade immediately, the price of your order will be continually updated (increased) in increments until the order trades, in full.
All market orders placed for Australian listed Securities will expire 30 days after the order is placed via the Superhero Platform unless the security has a fixed expiry date set by the Exchange.
Limit Orders:
A limit order is an order to buy or sell a specified number of securities at a specified price or better.
Limit orders can be cancelled, provided the order has not already been executed.
All limit orders placed for Australian listed Securities will expire 30 days after the order is placed via the Superhero Platform unless the security has a fixed expiry date set by the Exchange.
Stop Loss Orders:
A stop loss order is an instruction to commence selling a stock once the share price reaches a specified price, known as the ‘trigger’ price.This is usually a price significantly lower than the current market price (or purchase price).
When the ‘trigger’ price is reached, a stop loss order triggers a market to limit sell order. For market to limit sell orders, an order will be placed at the price set by the highest buyer in the market at the time the order is placed and remains at that price until the order trades, or expires.
Stop loss orders are currently available for AU securities only and remain valid for up to 180 days from the date the order is placed unless the security has a fixed expiry date set by the Exchange.
Recurring Orders:
A recurring order is a standing instruction to regularly repeat an order to buy a particular financial product.
This allows you to build your portfolio over time (dollar cost averaging) and helps save you the hassle of placing an order every time you want to invest.
Recurring orders are placed as a Market Order based on the frequency you choose.
All US and AU recurring orders will expire 30 days after the order is placed in the market unless the security has a fixed expiry date set by the Exchange.
What is a Sell Market Order?
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