When you place a market order, you are instructing the broker to buy at the prevailing offer price or to sell at the prevailing bid price at the time the order is executed on the Australian Stock Exchange.
When you place an order, you must indicate whether it is a limit order or a market order.
Limit orders allow you to set a maximum purchase price for your buy orders, or a minimum sale price for your sell orders. If the market doesn’t reach your limit price, your order will not be executed.
Things you should know
This article is intended to provide general information of an educational nature only. It does not have regard to the financial situation or needs of any reader and must not be relied upon as financial product advice. Investors should consult a range of resources, and if necessary, seek professional advice, before making investment decisions in regard to their objectives, financial and taxation situations and needs because these have not been taken into account. You can view the CommSec Share Trading Terms and Conditions and Financial Services Guide, and should consider them before making any decision about these products and services. Any securities or prices used in the examples given are for illustrative purposes only and should not be considered as a recommendation to buy, sell or hold. Past performance is not indicative of future performance.
© Commonwealth Securities Limited ABN 60 067 254 399 AFSL 238814 (CommSec) is a wholly owned but non-guaranteed subsidiary of the Commonwealth Bank of Australia ABN 48 123 123 124 AFSL 234945. CommSec is a Market Participant of ASX Limited and Cboe Australia Pty Limited (formerly CHI-X Australia Pty Limited), a Clearing Participant of ASX Clear Pty Limited and a Settlement Participant of ASX Settlement Pty Limited.
