Trading stop orders
A stop order directs the purchase or sale of a stock once it reaches a specified stop price. When this price is met, the stop order converts into a market order and executes at the best available price, which may differ from the stop price.
How sell stop orders work
With a sell stop order, you set a stop price below the current market value. If the stock price drops to your stop price, your order becomes a sell market order. The execution price can vary from the stop price.
For instance, if stock X is trading at $5 per share and you set a sell stop order at $4, it triggers if the price drops to $4, executing at the next available price. If the price remains above $4, your order won’t be activated.
Placing a stop order
- Go to 'Invest' on the bottom menu
- Tap 'Trade' and select your desired instrument
- Tap 'Buy' or 'Sell'
- Tap the dropdown menu and select 'Stop order'
- Enter your desired limit price
Good-till-cancelled orders
Good-till-cancelled (GTC) orders are supported, allowing you to set expiry dates up to six months.
You can choose from four options to expire:
- On the same day
- In 90 days
- In six months
- Select a custom date within the next six months