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What are the different order types available on CubePlus and how are they executed?
Order Types on CubePlus:
- Limit Orders With a limit order, you specify the price at which you want to buy or sell shares. The trade occurs at your defined limit price or at a better price.
- Market Orders A market order on CubePlus is to buy or sell shares at the current best available price. It's a quick and efficient way to execute trades.
- Stoploss Orders CubePlus offers stop-loss orders to limit potential losses. This type of order is useful when there's a concern that prices may move unfavorably against the trade. While placing StopLoss order you need to specify both trigger and limit prices. When the trigger price is reached/breached this StopLoss order will be converted into a limit order.
- Stoploss Market Orders This is similar to stoploss order. However you need to specify only the trigger price in this case. When the trigger price is reached/breached this StopLoss market order will be converted into a market order.
Additional Features:
- Good Till Triggered (GTT) CubePlus provides the convenience of GTT, allowing clients to set conditions for order execution even when they are not actively monitoring the market.
- After Market Order (AMO) Clients can use the AMO feature to place orders outside regular market hours, these orders will be auto sent to market during market opening.
Best Possibility of Execution:
- Market Orders have the best possibility of execution. When placed during market hours, they get filled on a first-come, first-served basis, ensuring a swift execution.
- Pre-Market Sessions and AMO Clients can strategically place orders during pre-market sessions or utilize the After Market Order (AMO) feature to stay ahead in the order placement.
For more details, refer to the CubePlus User Guide by Tradejini
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