Market orders
When the market is open and there are shares available, your order will be placed immediately. Market orders, however, come with potential risks as they execute at the best available price, which could vary due to market fluctuations.
There’s no way to confirm when your order for a company or exchange-traded fund (ETF) might fill on Sharesies.
Limit orders
Limit orders give you more control to buy or sell shares at a specific price, or better! They are particularly useful during high market volatility or extended trading hours, ensuring your trades align with your targeted price expectations.
A limit buy order lets you set the maximum price you’re willing to pay per share. For example, if you set a limit buy order at $10, your order will only execute if shares are available at $10 or lower, preventing overpayment during volatile trading conditions.
A limit sell order lets you set the minimum price you want to sell at per share. For instance, if the minimum price in your limit sell order is $15, your shares will only sell if the market price reaches or exceeds $15, safeguarding against undervaluing your investment.
When investing in US shares, you can’t place a limit order for a fractional number of shares—only whole shares can be purchased when placing a limit order. Additionally, for FAASF shares, manual sells must be executed as market orders, meaning you cannot use specific price limits and must accept the best available price.
Limit orders can take a little longer to fill. This is because the market must meet your specified price criteria before the order executes.
Stop loss and trigger buy orders
Stop loss and trigger buy orders give you more control over the price at which your buy or sell order for a US investment gets sent to the market.