EasyEquities allows you to place different types of orders when buying and selling on the App or Web Platform. You can change your Order Type settings under the Account Preference menu under the Profile menuYou are displayed a 20 minute delayed price (unless a price update is requested) but your order will always take place at the live market price.
Why would you want to change your order type?
Investors have different needs or objectives when it comes to investing. You may simply just want to tap/click buy or sell and have your transaction go through immediately or you may have made a calculated decision on an exact price you would like to pay for your shares and would like that price or a better price. There's no right or wrong answer to which is the better option and you will need consider your own objectives when placing your order with the different order types.
The different order types are:
Market Orders
This is your account default and means that when you place an order your will get the Buying At or Selling At price that is live in the market at the time of your transaction. You'd use this option if you're happy to pay the current market price when doing your order and want your order to take place immediately.
Basic Orders
These allow you to select either a Market Order or a pre-set Limit Order. The pre-set Limit Order price will be set at the price you see on the App or Web Platform when completing your transaction. You'd use this option if you want to ensure that you get the price (or a better price) that was displayed to you and not the live market price at the time or transaction. If the price is higher (when buying) or lower (when selling) your transaction will pend until that price is reached again or until you cancel the pending transaction.
Advanced Orders
Coming Soon!
Advanced orders will let you set your own Limit Order or Stop Order price.