You can purchase or sell securities on the MeDirect trading platform by placing market orders or limit orders.
Market Orders: If you place a market order, your order will be executed at the best available market price, and this according to MeDirect’s Best Execution which is included as Appendix 4 of MeDirect ’s General terms and conditions.
Limit Orders: Limit orders are available only for shares and trackers (ETFs). When submitting a limit order, you will have to provide a limit price. Buy orders will only be executed at a price equal or lower than the limit price, while sell orders will be executed at a market price equal or higher than the limit price. You can choose between three different types of limit orders:
- Fill or Kill: your order will be executed immediately in its entirety or cancelled
- Immediate or Cancel: your order will be executed immediately in whole or in part, otherwise the order (or any unfilled parts of it) will be cancelled. Partial fills are accepted with this type of order, unlike a Fill or Kill order, which must be filled immediately in its entirety or cancelled.
- Good for the Day: your order will automatically expire if not executed at the end of the day when the order was placed. A “Good for Day” order is an order that is good for that day only, during which time partial fills can take place. If it is not filled, the order (or any unfilled parts of the order) will be cancelled. If you wish, you can re-input the order on the next working day.
All limit orders expire at the end of the trading day. If you want the order to run longer, you need to enter it again.