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Help Center Trading in SG Market Order Type Stop limit order

Stop limit order

A stop limit order is an instruction to place a buy or sell limit order when the user-specified stop price is hit. A stop limit order guarantees the execution price but does not guarantee the order's execution.

Clients need to follow the "buy high and sell low" rule when placing a stop limit order. The buy stop price needs to be higher than the current market price, and the sell trigger price needs to be lower than the current market price.

A sell stop limit order is always placed below the current market price and is typically used to limit the loss or protect the profit on a long position.

A buy stop limit order is always placed above the current market price and is typically used to limit the loss or protect the profit on a short sale.

 

1. Examples

1.1 Buy stop limit order

Assuming stock XYZ has a current price of 10, you submit a buy stop limit order with a stop price of 15 and an order price of 16. If XYZ's market price rises to 15 or higher, a limit order will be submitted automatically to the clearing broker and filled at 16 or lower.

 

1.2 Sell stop limit order

Assuming you hold stock XYZ with a cost price of 10. In case the stock price falls sharply in the future, you submit a sell stop limit order with a stop price of 15 and an order price of 14 when the market price is 20. If XYZ's market price falls to 15 or lower, a limit order will be submitted automatically to the clearing broker and filled at 14 or higher.

 

2. Order time 

Clients can place stop limit orders at any time via the app.

 

3. Time in force

Clients can set a stop limit order's time in force. If the order is not fully filled upon expiration, the unfilled portion will be cancelled automatically by the system.

If the order fails to be executed due to risk management or other reasons, the order status will become "failed" and the system will not continue to place the order.

 

4. Trigger time

If the trigger condition is met during the preset trading session, the stop limit order will be triggered, and the system will automatically submit a preset order to the clearing broker.

The order will not be triggered if the trigger condition is met outside the preset trading session.

 

5. Notes

  1. After a stop limit order is triggered, it is not guaranteed to be submitted successfully. It may be rejected due to reasons such as insufficient buying power or positions.
  2. After a stop limit order is triggered, the system will place a limit order automatically. However, the order is not guaranteed to be filled. If it is not filled upon expiration, it will be cancelled automatically by the system.
  3. After a stop limit order is triggered, the condition cannot be triggered again, regardless of whether the order is filled or remains unfilled. You will need to place a new order.
  4. After a stop limit order is triggered, the system will place a limit order. For your convenience, the order details will be displayed in the original stop limit order.
  5. After a stop limit order is triggered, the system will not submit it unless there is enough buying power or positions in your account. Margin may be used for the transaction.
  6. Stop limit orders cannot be executed in multiple directions at the same time. You cannot sell and short sell, or buy and buy back, the same stock at the same time through a stop limit order. Suppose you hold a long position in a stock and place a sell order for the stock. If the order quantity is greater than the position quantity when the order is triggered, the order will not be executed.
  7. Stop limit orders will only be triggered during the preset trading session.
  8. If a stock supports short selling, you can select short selling when placing an order. If you do not hold any long position in the stock when the order is triggered, short selling will be executed.
  9. Our advanced orders are simulated by FUTU HK based on basic orders and irrelevant to the exchanges' advanced orders. Please refer to the actual order page for more details.

Disclaimer

FUTU HK offers advanced orders as an easy online trading option for its customers. Although we strive to ensure a stable service, we cannot promise it will be perfect. We are not liable for any financial losses or damages if an advanced order fails because of issues like network problems, server errors, or external factors.