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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.

Bracket Orders

What is a bracket order and how does it work?
A bracket order lets you buy a US stock or ETF and set your exit plan at the same time. Alongside your buy order (primary order), you set two sell orders: a take-profit order to sell if the price rises to your target, and a stop-loss order to sell if the price falls to a level you choose - these are your attached orders. 
 
Both exit orders become active only after your primary order is completely filled. Once one attached order executes, the other is cancelled automatically.

How a bracket order works: an example
Say you place a bracket order to buy 10 shares of XYZ at a limit price of US$100, with a take-profit at US$110 and a stop-loss at US$95.
  1. Your buy order fills at US$100 (primary order). Your take-profit and stop-loss orders (attached orders) are now active.
  2. If XYZ rises to US$110, your 10 shares are sold at US$110 or better. Your stop-loss order is cancelled.
  3. If XYZ falls to US$95, your stop-loss order is triggered and your shares are sold at the next available market price. Your take-profit order is cancelled.

When are the attached orders (take-profit and stop-loss orders) active?
Both are active only during regular US market hours: Monday to Friday, 9.30 am to 4 pm ET, except on US market holidays. In Singapore time, that is:

  • 9.30 pm to 4 am SGT (mid-March to early November, during US daylight saving time)
  • 10.30 pm to 5 am SGT (early November to mid-March)

These orders will not trigger during pre-market, post-market or overnight (24/5) trading sessions, even if the price reaches your take-profit or stop-loss level during those sessions. For example, if XYZ falls to US$90 in pre-market trading, your US$95 stop-loss will not trigger until the market opens at 9.30 am ET. It will then sell at the next available price.

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.