Lightyear offers 4 order types. It’s important to evaluate which order types fit your investment strategy the best.
An “Order”, in investment speak, simply refers to an instruction that you place to your broker (in this instance, Lightyear). This instruction tells us to either buy or sell a security within a certain set of parameters, depending on the type of order you place.
Why can I only place a Market or only a Limit order but not both?
If an instrument has a very low trading volume, meaning there are not a lot of counterparties who sell and trade at the time, we may offer only Limit orders to avoid rejected orders. We continue monitoring these instruments and may update the notice that's left on them in the app – keep a keen eye on the notice for further information
How to change the order type in the app?
By default, all orders you start creating are Market orders but you can change the type at the top right corner when starting to place an order