In Hapi you can find the following types of orders trading shares:
1. Market Order
A Market Order is a type of order that is executed at the current market price. Market orders take precedence over other types of orders, so they are generally executed immediately during regular market hours and extended hours. These orders are usually used when the investor wants to trade stocks quickly or avoid partial executions.
Keep in mind that when you use a market order, you are not guaranteeing a price.
2. Limit Order
An order that can only be executed at a specific price or better. Investors usually use limit orders to have more control over the execution price. The limit price allows you to choose a specific price to buy or receive for an asset.
On a purchase order, the limit price would be the maximum amount you are willing to pay for each share.
On a sell order, the limit price would be the minimum amount you are willing to receive per share.
☝️ Important: The execution of limit orders is not guaranteed. There must be a buyer and a seller on each side of the transaction. It is executed if the market price of the stock reaches the limit price, and if there is not enough stock in the market at your limit price, it may take several trades to complete the entire order, or the order may not complete at all.
Note: Some orders can be placed as valid until the close of the day (Good-for-day (GFD)) or until it is canceled Good-til-Canceled (GTC)). and in some order you can select to execute them while the market is open or in extended hours. Make sure you fully understand in detail the implications or your selection of these options and the risks involved in each case.
We currently do not support crypto, trailing stop order, bracket orders, market-on-close orders, or market-on-open orders.
3. Recurring Investments
Recurring investments allow you to schedule automatic buy or sell orders of stocks, ETFs, and cryptocurrencies. You can customize the frequency, amount, and time period in which you want these transactions to be executed.
How do recurring investments work? Recurring investments allow you to create an automated investment strategy. For example, you can set an order to buy $20 of the stock "HAPIS" every Friday for the next 10 weeks. These transactions will be executed automatically according to your preferences, allowing you to average prices and maintain a planned investment strategy without the need for daily intervention.
For more information on the functionality of Recurring Investments, click here.
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