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Stake AUS market orders
ausWhat is a market order on Stake AUS?
A market order is an instruction to buy or sell shares at the best available price when the order is placed.
On the ASX, market orders are entered as limit orders with a slight price buffer to increase the chance of immediate execution, while protecting you from unexpected price swings.
For buy orders, the limit is set slightly above the last traded price
For sell orders, the limit is set slightly below
If the order doesn’t fully fill straight away, the remaining shares stay in the market as a limit order until the end of the trading day.
How is the limit price for a market order set?
Your market order is submitted with a limit price based on a percentage (%) buffer from the last traded price.
Share price |
Limit buffer applied |
|---|---|
$0.000 – $0.005 |
12.50% |
$0.005 – $0.02 |
7.50% |
$0.02 – $0.05 |
6.25% |
$0.05 – $0.20 |
4.00% |
$0.20 – $0.50 |
3.00% |
$0.50 – $2.00 |
1.25% |
$2.00 – $5.00 |
1.00% |
$5.00 – $15.00 |
0.75% |
$15.00 – $30.00 |
0.50% |
$30.00+ |
0.25% |
Example: Market buy order
Let’s say:
The last traded price of stock ABC is $100.00
The best ask (lowest price a seller is offering) is $100.01
You place a market buy order. It enters the order book as a limit order at $100.25 (0.25% above the reference price). Your order is filled at $100.01, the best available price. You’re protected from paying more than $100.25.
The same applies in reverse for market sell orders.
Market volatility
In fast-moving markets, the share price might jump past your limit, and the order may:
Not execute at all, or
Execute later, if the price returns to your set limit
This mechanism helps reduce the risk of trades executing at unexpected or extreme prices.
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