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What are the order types available in Brokerage?

Syfe currently offers the below types of orders for trading across different markets:

Market Orders (in Dollars)

  • Buy or sell a stock by specifying the dollar amount (minimum USD 1).
  • Available for US, Singapore, Hong Kong markets.

  • HKEX: Orders are converted to Enhanced Limit Orders (ELO) with a 2% buffer. Execution is not guaranteed.

    Note: There is a chance that HKEX market orders may not be filled, even with the buffer.

Market Orders (in Shares)

  • Buy or sell by specifying the number of shares.
  • Available for US and Singapore markets.

Limit Orders

  • Set a maximum buy price or minimum sell price.
  • If the market price does not meet the limit price set, the order will not be executed.
  • Available for US, Hong Kong, and Singapore markets.

Stop Orders

  • Triggers a market order once the stop price is reached.
  • Useful for limiting losses or locking in profits.
  • Available for US market only.
  • If the stop price isn’t triggered, the order will not execute.

Trailing stop orders: 

  • A trailing stop order is an advanced order type that automatically adjusts the stop price in response to market movements, allowing you to limit losses while allowing profits to grow. 
  • For sell orders, the trailing stop moves up as the price rises, locking in gains. When the price drops by your set amount or percentage, it triggers a market sell to protect your position.

For example:

If you buy a stock at US$100 and set a trailing stop of US$5, your stop price starts at US$95. If the stock price rises to US$110, your stop price automatically adjusts to US$105. If the price then drops to US$105, the system immediately executes a market order to sell at the next available price.

Please note:

The trailing stop price only moves in one direction — upwards for sell orders and downwards for buy orders. The order becomes a market order once triggered and will be executed at the next available price. Execution depends on market liquidity when the stop triggers, so the actual execution price may differ from your stop price in fast-moving markets.

Trailing stop orders are currently available for the US market only.

What’s the difference between Market Orders in Dollars vs. Shares?

  • Market Orders (in Dollars): Specify the amount of money to invest (e.g. USD 10).
  • Market Orders (in Shares): Specify the number of shares to buy or sell (e.g. 2 shares).

Note on Hong Kong (HKEX) Orders

  • HKEX does not support traditional market or limit orders.
  • All orders are submitted as ELOs, which:
    • Match up to 10 price queues
    • Fill only if prices stay within 10 spreads of best bid/ask
  • At-auction Orders (ALO) are not supported

For full details, refer to the HKEX Trading Mechanism Guide.