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Placing an Order

  • What are Publicly Traded Partnerships (US PTP)?

    A publicly traded partnership (PTP) is a business organization owned by two or more co-owners whose shares are regularly traded on an established securities market. It is a type of limited partnership managed by two or more partners (including individuals, corporations, or other partnerships) and is funded by limited partners who provide capital but have no management role in the partnership.

    Are there charges for Publicly Traded Partnerships (US PTP)?

    The US Internal Revenue Service has issued a new provision under Section 1446(f) of the Internal Revenue Code that primarily impacts non-US persons who invest in US Publicly Traded Partnerships (“PTP”) Securities. 

    With effect from 1 January 2023, non-US persons will incur a 10% withholding tax on the amount realised from any disposition of interests in US PTP securities (as compared to 0% currently).

    How does this impact me?

    In view of this update, Syfe Trade will cease buy orders and transfer-in requests on US PTP securities with effect from 19 December 2022. From the same date, only sell orders will be accepted.

    If you currently hold US PTP securities and wish to sell them, you should place your sell orders by 28 December 2022 to ensure sufficient time for the execution of the trade(s) before 1 January 2023. We will continue to support the liquidation of US PTP security positions beyond 31 December 2022.

    Clients who hold US PTP securities after 31 December 2022 may be impacted by the additional withholding tax set out above. Please take note and review your portfolio accordingly to minimise the possible impact from holding these securities.

    For more information, please refer to the US IRS website on the US PTP withholding tax here, and the list of US PTP securities here. Kindly note that the US PTP securities list is non-exhaustive and may change at any time.

     

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  • We currently offer 4 order types: Market Orders (by dollar), Market Orders (by shares), Limit Orders, and Stop Orders.

    Market Orders by dollar: This allows you to buy or sell a stock immediately in the market by entering a minimum dollar value of $1. It will be executed at the current market price rather than a specified price. There is no guarantee on the executed price and due to price fluctuations the executed price may be different from what you expect. 

    Market Orders by shares: This allows you to buy or sell a stock immediately in the market by entering a specific quantity of shares. It will be executed at the current market price rather than a specified price. There is no guarantee on the executed price and due to price fluctuations the executed price may be different from what you expect.

    Limit Order: This allows you to buy or sell a stock at a specific limit price you want. The order will be executed at the limit price or better. Please note that limit orders are not guaranteed to fill. If the stock price does not meet your limit price, your limit order will not be executed.

    You may choose the validity period of your limit order to be either:

    • GTC (Good Till Cancelled) - Your order will remain active and will be executed when price matches and your order is filled, unless you choose to cancel your order. For SG-listed securities, GTC limit orders will be automatically cancelled if not executed within 30 days. 
    • GTD (Good Till Date) - Your order will only remain active and will be executed when price matches and your order is filled within the trading day. Limit GTD orders will be automatically cancelled if not executed by the end of the trading day. 

    Stop Order: This allows you to buy or sell a stock at the market price once the stock is traded at or through the stop price. Once the stop price is reached, the order will become a market order and will be executed at the next available market price. Please note that if the stock price does not reach the stop price, the stop order will not be executed.

    Kindly note that for US-listed securities, all 4 order types are available. However, for SG-listed securities, only Market Orders (by shares) and Limit Orders are available, as fractional trading is not supported.

    Order type US Market SG Market
    Market Order (by dollar) Yes No
    Market Order (by shares) Yes Yes
    Limit Order Yes Yes
    Stop Order Yes No

     

    What is the difference between market orders in dollars and market orders in shares?

    Market orders in dollars allow you to place market orders by specifying the value of the trade in USD while market orders in shares allow you to place market orders by specifying the number of shares you want to trade.

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  • You may choose the validity period of your order to be either GTD (Good 'til Day) or GTC (Good 'til Cancelled). GTD allows you to place a buy or sell order at a particular price and the order will stay active unless executed or till the day ends (8PM EST) while GTC allows you to place a buy or sell order that will stay active until the price is reached or when you choose to cancel the order.

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  • No, there is no limit on the number of orders you can create. But do note that if you placed multiple orders, the buying power will be temporarily be withheld in order for the order to be processed, even though it is not completed yet.

    In some cases, if you have multiple pending orders, you might see your new completed order being charged a commission fee. That is because the system take in consideration the pending orders that has yet to be completed, into your monthly free trade quota.

    If you cancel your pending order, the subsequent order for the month will not be charge a commission fee as your monthly free trade quota will be revert back accordingly.

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  • With Syfe Trade, you can select from over 10,000 US-listed stocks and ETFs and decide how much you want to invest. Through Syfe Trade's fractional shares offering, you can buy any stock you want regardless of share price with as little as USD 1.

    If you wish to buy a stock or ETF, simply select your preferred stock or ETF and click the "Buy" option in the security details page. Follow the instructions in the app to place your buy order.

    To sell a stock or ETF, log in to your Syfe Trade account and view your "Portfolio" page. Select the desired stock you want to sell and click the "Sell" option in the security details page. Follow the instructions in the app to complete your sell order.

     

    For better clarity, you may refer to this guide below:

    Syfe_Guides.png

     

     

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  • You can check the status of your order in the Syfe Trade app under Account > Order details.

    The status of your order can either be Executed, Pending, Pending Cancellation, or Failed.

    • Executed: Your order has been successfully executed and the security has been bought or sold.
    • Pending: Your order is placed but not yet executed. Orders placed outside trading hours will be reflected as 'Pending' until it is executed when the market opens. For limit orders, this may also meant that your limit price has not been reached, thus the order is not yet executed.
    • Pending cancellation: Limit orders cancelled outside trading hours will only be cancelled shortly before the market opens. In the meantime, you may expect to see your order under 'Pending cancellation'.
    • Failed: Your order has failed to be executed. You will receive an in-app notification to inform you should your order fail, kindly create a new order instead. Please reach out to our Customer support for assistance if the order you have placed keeps failing. 

     

     

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  • US Market

    The US market is open Mondays to Fridays from 9.30 am to 4 pm EST (9.30 pm - 4 am SGT) except on US trading holidays. Pre-market and post-market hours are Mondays to Fridays, 4 am - 9.30 am EST and 4 pm - 8 pm EST, respectively.

    Here is a quick summary of the supported time slots for different order types:

    Time

    (in EST)

    Market Order Limit Order Stop Order
    by dollar by shares GTD GTC

    Pre-market hours

    (4 am - 9.30 am)

    Queued Not available Accepted & executed if price matches Queued Not available

    Market hours

    (9.30 am - 4 pm)

    Executed at prevailing prices Executed at prevailing prices Accepted & executed if price matches Accepted & executed if price matches Accepted & executed if price matches

    Post-market hours

    (4 pm - 8 pm)

    Queued Not available Accepted & executed if price matches Queued Not available

    Outside market hours

    (8 pm - 4 am)

    Queued Not available Queued Queued Not available

     

    SG Market

    The Singapore stock exchange is open Mondays to Fridays from 9 am to 12 pm SGT and 1 pm to 5.16 pm SGT, except on Singapore trading holidays.
    In between, there is a mid-day break between 12 pm - 1 pm, where no trades will be executed.
    Kindly note that orders will only be executed on a conditional basis (based on market availability) between 5.05 pm - 5.16 pm.

    Here is a quick summary of the supported time slots for different order types:

    Time (in SGT) Market Order (by shares) Limit Order

    Opening routine

    (8.30 am - 8.59 am)

    Queued Queued

    Trading hours
    (9 am - 12 pm)

    Executed at prevailing prices

    Accepted & executed if price matches

    Mid-day break
    (12 pm - 1 pm)

    Queued Queued

    Trading hours
    (1 am - 5 pm)

    Executed at prevailing prices

    Accepted & executed if price matches

    Closing routine
    (5 pm - 5.05 pm)

    Queued Queued

    Trade at close
    (5.06 pm - 5.16 pm)

    Executed at prevailing prices (conditional)

    Accepted & executed if price matches (conditional)

    Outside market hours 
    (5.17 pm - 8.29 am)

    Not available Queued

    For more information about SGX trading hours, you can refer to the SGX website here.

    Can I trade during exchange holidays?

    There will be no trading during exchange holidays.

    The US stock market observes US public holidays. Any orders you make on these days will not be filled until US stock exchanges re-open.

    On the other hand, the SG stock market observes Singapore public holidays. Any orders placed on these days will also not be filled until the SGX reopens. 

    Additionally, please note that half-day trading will be applicable for SG market on Chinese New Year eve, Christmas eve, and New Year's eve, provided they fall on a trading day. In the case of half-day trading, market will only open from 9 am to 12.16 pm.

    Note: Public holidays do not count as a business day.

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  • What is recurring buy feature?

    Recurring buy feature enables you to set a scheduled day in a week or month to automatically purchase share(s) or ETF(s) of your choice. This way, you may dollar-cost average with ease on Syfe Trade.

    At the moment, you may set recurring buys only for securities that can be traded fractionally, as only market orders by dollar is supported for recurring buy. Thus, kindly note that recurring buy is only applicable to the US market and not available for the SG market.

    You may follow these easy steps below to create a recurring buy order:

    Syfe_Guides__3_.png

     
    What happens after the recurring buy has been set?
    On the scheduled date, an order will be placed automatically four hours before the market opens. Your buying power for the recurring buy order will also be deducted. Once the market opens, your order will get executed at the market price.
     
    Please note that your recurring buy order will not be placed if you do not have sufficient buying power on the scheduled date. In such cases, your recurring buy will be skipped until the next scheduled date.
     
    If your scheduled date falls on a non-trading day (i.e. trading holidays or weekends), your order will be placed on the next trading day instead. Additionally, if you have scheduled a recurring buy on a date that does not exist in a particular month (e.g. 31st of the month), your order will be placed on the last day of that month instead.
     
    Can I amend an existing recurring buy order?
    Once a recurring buy has been set, you will be able to view it under ‘Upcoming recurring buys’ on your ‘Portfolio’ tab. You may skip, amend or delete your recurring buys from here as well.
     
    You may follow these easy steps below to skip, amend or delete a recurring buy order:
    1. Log into your Syfe account and toggle to Syfe Trade.
    2. Click on the 'Portfolio' icon on the bottom left of the screen
    3. Click on 'Upcoming Recurring Buy' in the middle of the page
    4. Click on orange pencil icon on the top left of the tile for the instruction you wish to skip, amend or delete and select the option.
    5. Submit your instruction.
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Still need help?

Reach out to our customer support team at any time
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