Your order will be placed into a queue of other buyers or sellers, and order processing times might be affected by things such as:
the number of other buyers and sellers in the market
if the market is open or closed
if the investment is in a trading halt
if the price of an investment doesn’t reach the limit price you have set (or better).
You can place orders outside of market hours on Sharesies. But, your order won’t be sent to market until the exchange you’re buying from reopens.
Investments that aren’t traded frequently can remain pending, or unfilled, for an unknowable amount of time.
Limit order processing times
If you place a buy or sell limit order for New Zealand or US investments, these may wait on-market for up to 30 trading days for the limit price to be reached. If the limit price isn’t met within 30 trading days, the limit order is cancelled.
For Australian investments, orders will remain on market for up to 30 calendar days before being cancelled.
For cancelled buy limit orders, the money is returned to your Sharesies Wallet.
For cancelled sell limit orders, the investment stays in your Portfolio.
If your limit order is cancelled, you can place it again.
Cancelled order processing times
Although we don’t guarantee an order can always be cancelled, you can cancel an order that hasn’t yet been filled by selecting the investment in your Portfolio and selecting View order > Cancel order.
When an order is cancelled, we look to make the money available in your Sharesies Wallet as soon as we can. If it’s cancelled when the market is closed, the money should appear back in your Sharesies Wallet when the market next reopens. You’ll receive the money back into your Sharesies Wallet in the currency placed when buying an investment, minus any applicable exchange fees.
If you have any questions, get in touch with us at firstname.lastname@example.org.