Our platform provides you with:

  • Market Order
    An order entered without a specified price. It is an instruction to trade at the best price currently available in the market.

  • Market-to-Limit Order
    An order entered without a specified price, just like a market order. However, it will only be matched at the current best bid or ask price. If the order is only partially filled after matching at the current best price, the remainder will be submitted as a limit order at the same price that the earlier match occurred.

  • Session State Orders
    An order entered to a specified session state of a trading day

  • Price Triggered Orders
    An instruction containing a specified trigger price that will be converted into an actual order once the trigger price is met.

  • Fill and Kill (FAK)
    An order that will be matched with as much quantity as possible. Any unmatched quantity will be cancelled.

  • Fill or Kill (FOK)
    An order that will be matched in its entire quantity or be completely cancelled. There will be no partial fill.

  • Good-Till-Date (GTD)
    An order with a specified expiry date that is within 30 days from the day the order is placed. The order will stay in the queue until it is fully filled, specifically cancelled, or the instrument is de-listed, expired or in the event of corporate action.

  • Good-Till-Maximum (GTM)
    An order with a specified expiry date of exactly 30 days.  

Currently, these advanced orders are only available for the Singapore market.

The available validities are Day, FAK, FOK, GTD or GTM.

Choose Limit from the Order Type field. Next, choose the relevant validity type.

A market order is an order which is entered into the order book with a specified quantity but without a price, unlike a limit order.  It is purely volume-based and has no target price. It is an instruction to trade at the best price currently available in the market. 

Choose Market from the Order Type field. Next, choose the relevant validity type.

When you place a market order, you are essentially asking your broker to buy or sell a given security as soon as possible, at the best available price.

When you place a limit order, you establish your desire to buy a security only at a certain or better price.

  • There is no guarantee that the order will be filled at a target price. A buy order could be filled at a much higher price than intended, or a sell order can be filled at a much lower price than intended.

  • Using market orders during a volatile market is not recommended as there is a higher probability that the prices will change quickly.  Hence, the incidence of ‘slippage’ is higher in fast-moving markets or for illiquid securities with thin order book and wide bid-ask spread.

  • The order may be split across multiple investors on the other side of the transaction, resulting in different prices for the order.

A market-to-limit (MLT) order is an order which is entered into the order book with a quantity but without a price, just like a market order.  However, it will only match at the current best bid or ask price and not trade through the order book.  If the order is only partially filled after matching at the current best price, the remainder is submitted as a limit order at the same price that the earlier match occurred.  

Choose Market to Limit from the Order Type field. Next, choose the relevant validity type.

Market-to-Limit orders can be entered during the Pre-Open, Open, Pre-Close, Halt, J (Opening phase after suspension), and Adjust (market crisis)

  • The order will be left on the order book for a period of time. During this period, market conditions could change and this may cause the order to become unfavourable.

  • If the order is partially filled each day and brokerage is charged on each day that a trade is fulfilled, the order will incur higher transaction costs.

  • If there are corporate actions in the stocks/units or if the validity of the orders expires, the GTD/GTM orders will be purged and the order status will be reflected as "Expired" in your order book.

  • As we do not have access to your CDP account, you will need to ensure that sufficient shares are available in your CDP account for your GTD/GTM cash orders. If there are insufficient shares, there is a risk of short selling if you place a sell GTD/GTM order.

  • As we do not have access to the shareholdings and funds available in your CPF / SRS Investment Accounts, you will need to ensure that sufficient shares and limits are available in these accounts for your GTD/GTM orders. If there are insufficient shares, there is a risk of short selling if you place a sell GTD/GTM order. If you have a buy GTM/GTD order, there is the risk that the order, after fulfilled, is revoked to a cash trade due to insufficient limits/funds.   

There are 3 conditions available, namely “By Price”, “By Stop Price” and “By Session”.

  • By Price
    An order with “By Price” triggering condition is an instruction containing a target price and quantity that will be converted into an actual order in the order book once the triggered price is met.
    It is generally known as an if-touched order.

  • By Stop Price
    “By Stop Price” order is an order which will be traded at the specified price or better after a given stop price has been reached.
    It is generally known as stop limit.

  • By Session
    “By Session” Order allows you to specify the session that you wish to trigger your order before the trading session starts. It will expire at the end of trading day if it is not triggered to SGX

A “By Price” order benefits investors by providing the flexibility to buy and sell at specific price levels without investors having to constantly monitor market movements. It is particularly of use in fast-moving markets, when investors may not be able to react in time to take advantage of buying or selling opportunities.

The disadvantage is the trigger price may be activated by a short-term fluctuation in a stock's price.

The benefit of a “By Stop Price” order is that it allows the investor to enter a new position or exit an outstanding position when the price surpasses a particular price level. It also allows one to take profit or minimise losses on an existing long or short position.

The disadvantage is that there will be no guarantee that the order will be filled in the event the price gaps through the limit price.  

A “By Stop Price” order is typically used as a loss-limiting mechanism in respect of open/long positions, while a “By Price” order is used to open a new position on the market in anticipation of a particular reversing trend. For instance, in a falling market, an investor may want to enter the market at a favourable price should the market rebound using a “By Price” order. Similarly, in a rising market, the investor may want to enter into a short position should the price begin to fall.

Generally, a “By Price” order is used when clients intend to buy a stock below the current trading price with a trigger price below current price or to sell a stock at a higher stop price and a higher selling price compared to current trading price. For this type of trigger, the traded price will be executed at a better price for buy and sell.

Meanwhile, clients can use a “By Stop Price”, with the intention to enter the market with a stop price and an execution price higher than the current price, and use to exit the market with a stop price and an execution price lower than the current trading price. For such type of trigger, the traded price will be a better price for buy and sell, in other ways, the order can be filled at a higher price than the price entered for the sell order or lower price than the price entered for the buy order.

 

In simpler way, if you plan to buy and

  • Trigger price > current price, use a “By Stop Price” order
  • Trigger price < current price, use a “By Price” order

If you plan to sell and

  • Trigger price > current price, use “By Price” order
  • Trigger price < current price, use “By Stop Price” order
  • Ensure that your trading account has a sufficient buy or sell trading limit to allow the order to be submitted, else your order will be rejected due to insufficient trading limit

  • Take note that the trigger price cannot exceed 20 bids from the Last Done Price and the order price cannot exceed 20 bids from the Trigger price

  • There is no guarantee that a “By Price”/”By Stop Price” order will be filled in the event the price gaps through the limit price

  • Take note that advanced order can only be triggered during the market open phase. The overnight advanced order may get rejected by exchange after the market is open if the limit price is beyond the allowable bids when the advanced order is triggered.

  • Ensure that you own sufficient shares in your CDP account. If there are insufficient shares, there is a risk of short selling.

  • Price Triggered Orders not activated by end of the trading day will be automatically deleted from the system.