Advanced Order Types

Trade with precision and leverage market movements effectively with a host of advanced order types available on the award-winning POEMS suite of trading platforms.

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Recurring Plan
Available in selected markets (Singapore, US, HK) on POEMS 2.0

What is a Recurring Plan?

Recurring Plan gives you more control over your investments. It aims to manage market risk through the use of Dollar Cost Averaging. You gradually build your portfolio over a period of time with a fixed amount of regular investment that is determined by you, purchasing more units when the price is low and fewer units when price is high.

Recurring Plan helps you to take care of repetitive investments at the click of a button. Choose the Stock or ETF, an amount that you would like to invest, and the investment interval. Your chosen amount will then be invested at every interval.

Why should I start a Recurring Plan?

You may consider placing a Recurring Plan if you are:
  • A long term investor looking to accumulate Blue Chips using Dollar Cost Averaging (DCA)
  • An investor looking to build your portfolio through regular investments
  • A trader who wishes to place trade(s) on fixed trading days of the week or month

Which markets and products can I start a Recurring Plan for?

Markets Products
Singapore All Stocks & ETFs
U.S.
Hong Kong
Charges vary by account types and follow standard brokerage fees. Learn more about brokerage fees.
For more information, please visit: https://www.poems.com.sg/rsp/#recurringplan
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Limit Order
Available across all markets on POEMS 2.0, POEMS Mobile 2.0 and POEMS Mercury

What is a Limit Order?

A Limit Order is an order to buy or sell a stock at a specific price or lower / higher.

A Buy Limit Order can only be executed at the limit price or lower, and a Sell Limit Order can only be executed at the limit price or higher. A Limit Order can only be filled if the stock’s market price reaches the limit price. While limit orders do not guarantee execution, they help ensure that an investor does not pay more than a pre-determined price for a stock.

Frequently Asked Questions (FAQ)

Example: An investor wants to purchase shares of ABC stock for no more than $10. The investor could submit a Buy Limit Order for this amount, and the order will only be executed if the price of ABC stock is $10 or lower. The same concept can be applied to Sell Limit Orders.
Limit Orders let you enter and exit trades with precision. Traders typically use Limit Orders to improve price and take advantage of pullbacks in price. However, you have to enter them correctly to ensure they accomplish the goal of improving price – that is, to get a specified price or better.
Market Orders are transactions meant to execute as quickly as possible at the present or market price. Conversely, a Limit Order sets the maximum or minimum price at which you are willing to buy or sell.

Learn more about Market Orders
Step 1: Under the trade ticket, click on the dropdown menu under “Order Type” / “Type” and select “Limit Order”

Step 2: Key in your Limit Price, Quantity and other required information

Step 3: Confirm your trade details, then click on the “Buy” or “Sell” / “Submit” button to submit your order
POEMS 2.0
POEMS Mobile 2.0
POEMS Mercury
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Stop Limit Order
Available in selected exchanges on POEMS 2.0, POEMS Mobile and POEMS Mercury

What is a Stop Limit Order?

A Stop Limit order is an order to buy or sell a stock once the price of the stock reaches a specified price, known as the Trigger Price. Once the trigger price is reached, a Stop Limit order becomes a limit order that will be executed at a specified price (or better).

Are Stop Limit Orders available on POEMS?

POEMS 2.0, POEMS Mobile 2.0
Stop Limit orders are currently supported for orders on NASDAQ, NYSE, NYSE-MKT, SGX

POEMS Mercury
Stop Limit orders are supported for orders on HKEX, NASDAQ, NYSE, NYSE-MKT, SGX

Frequently Asked Questions (FAQ)

Depending on what position you are holding (long or short), there are two types of Stop Limit orders:
Sell Stop Limit

This is the Stop Limit order when you have a long position on a security. In this case, the trigger price is placed below current market price of the security.
Buy Stop Limit

This is the Stop Limit order when you have a short position on a security. In this case, the trigger price is placed above current market price of the security.
The benefit of a Stop Limit order is that it allows the investor to enter a new position or exit an outstanding position when the price surpasses a particular price level. It also allows one to minimise losses on an existing long or short position.

The disadvantage is that there will be no guarantee that the order will be filled in the event the price gaps through the limit price. In such an event, the order will not be filled.

Example: Assume that stock SGX is trading at $6.81 and an investor wants to BUY once it begins to show an upward momentum. The investor places a Stop Limit order to BUY with trigger price at $6.83 and limit price at $6.84. If the price of SGX reaches the trigger price of $6.83, the order is activated and turns into a limit order. As long as the order can be filled under $6.84 (the limit price), then the trade will be done/part done. If the stock gaps above $6.84, the order may not be filled.
Before using a Stop Limit order, investors should consider the following:

As with all limit orders, a Stop Limit order may not be executed if the stock’s price moves away from the specified limit price, which may occur in a fast-moving market.

Short-term market fluctuations in a stock’s price can activate a Stop Limit order, so trigger price and limit price should be selected carefully.
Step 1: Under the trade ticket, select “Stop Limit Order” from the dropdown menu under “Order Type” / “Type”, then choose the “Trigger based on” / “Stop Trigger”

Step 2: Key in your Limit Price, Trigger Price, Quantity and other required information

Step 3: Confirm your trade details, then click on the “Buy” or “Sell” / “Submit” button to submit your order
POEMS 2.0
POEMS Mobile 2.0
POEMS Mercury
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Limit-if-Touched (LIT)
Available in selected exchanges on POEMS 2.0, POEMS Mobile and POEMS Mercury

What is a Limit-if-Touched (LIT) order?

A Limit-if-Touched is an order to buy (or sell) a contract at a specified price or better, below (or above) the market. This order is held in the system until the trigger price is touched. An LIT order is similar to a Stop Limit order, except that an LIT sell order is placed above the current market price, and a Stop Limit sell order is placed below.

A LIT order is similar to a Limit order except that a LIT Buy order allows the trader to ensure market support (trigger price) is reached before entering a Limit Buy order with such a price that the buy order has a high probability to be filled, while a limit buy order may or may not be filled when last done price is traded at this price.

Are Limit-if-Touched orders available on POEMS?

POEMS 2.0, POEMS Mobile 2.0
LIT Orders are currently supported for orders on SGX only.

POEMS Mercury
LIT Orders are supported for orders on SGX, HKEX, NASDAQ, NYSE, NYSE-MKT.

Frequently Asked Questions (FAQ)

Example 1: ABC shares are currently trading at $2.60. An investor wants to open a long position to buy 10 lots of ABC shares only when the price of ABC shares falls back to $2.50. However, he also wants to buy at a better price than $2.50, for instance $2.40. In this case, the investor can enter a LIT buy order with an order trigger price of $2.50 and a limit price of $2.40. During the day, if the price of ABC shares starts falling from $2.60 and reaches $2.50, the LIT buy order is converted into a limit buy order for 10 lots of ABC shares at $2.40. The buy limit order will only be executed at $2.40 or better price. If the market price never goes down to $2.40 or better, the order will not be executed.

Example 2: An investor enters a Limit-if-Touched sell order at $3.45 for 10 lots of ABC shares with trigger price $3.50. The price of ABC shares starts rising from an opening price of $3.30 and reaches $3.50 intraday. Upon the price of ABC shares reaching $3.50, the Limit-if-touched order is triggered, and is converted into a limit sell order of $3.45 for 10 lots of ABC shares to make sure the sell order has a high probability to be done.
Limit-if-Touched order benefits investors by providing the flexibility to buy and sell at specific price levels without investors having to constantly monitor market movements. It is particularly of use in fast-moving markets, when investors may not be able to react in time to take advantage of buying or selling opportunities.
The difference between a Stop Limit order and a Limit-if-Touched order is that a Stop Limit order is typically used as a loss-limiting mechanism in respect of open positions, while a Limit-if-Touched order is used to create new positions in anticipation of a particular reversing trend.
Do take note of the following:
  1. For Advanced Orders, customers are to ensure that their trading accounts have sufficient buy or sell trading limits to allow orders to be submitted when the Stop Limit Order’s triggering conditions are met. Otherwise, the order triggered may be rejected due to insufficient trading limit.
  2. Please take note that the Trigger Price cannot exceed 30 bids from the Last Done Price and the Limit Price cannot exceed 30 bids from the Trigger Price.
  3. There is no guarantee that the Stop Limit Order/Limit-if-Touched Order will be filled in the event the price exceeds the Limit Price.
  4. Please note that Advanced Orders can only be triggered during the market open phase. Overnight Advanced Orders may get rejected by the exchange after the market is open if the limit price is outside of the allowed price range when the Advanced Order is triggered.
Step 1: Under the trade ticket, select “Limit-if-Touched” from the dropdown menu under “Order Type” / “Type”, then choose the “Trigger based on” / “Stop Trigger”

Step 2: Key in your Limit Price, Trigger Price, Quantity and other required information

Step 3: Confirm your trade details, then click on the “Buy” or “Sell” / “Submit” button to submit your order
POEMS 2.0
POEMS Mobile 2.0
POEMS Mercury
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If-Done Order
Available across all markets on POEMS Mercury

What is an If-Done order?

It is an order that is structured of two or more steps that must occur in a specified sequence. Only after the first step in the sequence is completed, then will the second step be activated. This related order can be used if you are unable to continuously monitor the market but want to participate in the market movements in your favour and/or exit a move against you. Currently, only Limit Orders can be used for an If-Done related order.

Frequently Asked Questions (FAQ)

The If-Done Order allows automatic management of trades that mirror your trade management if you were watching the price action unfold and can be utilized to wait for the market to come to you.
Step 1: Under the trade ticket, click on the dropdown menu under “Type” and select your desired order type

Step 2: Key in your Limit Price, Quantity and other required information

Step 3: Under “More Trading Options”, select the “IF-Done” option and key in other necessary information

Step 4: Confirm your trade details, then click on the “Submit” button
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One-Cancels-The-Other (OCO)
Available in selected exchanges (AMEX, NASD, NYSE, HKSE) on POEMS Mercury

What is a One-Cancels-The-Other (OCO) Order?

It is an order that allows the submission of 2 orders simultaneously to either take profit or cut loss. If one part of the order is executed, the other is automatically cancelled. OCO orders are generally used by traders for volatile stocks that trade in a wide price range.

Frequently Asked Questions (FAQ)

Example: An investor owns shares of company XYZ, currently trading for $25 per share. He believes the shares are undervalued, and expects the price to climb another $20. To make sure he locks in the gain, the investor places a Sell Limit Order for $45, the maximum price at which he wishes to hold the stock. He also places a Stop Order for $10, which will sell the shares if it drops $10 from its current high. As the prices climb to $45, the investor’s Sell Limit Order is triggered, selling his shares, and cancelling his Stop Limit.
Step 1: Under the trade ticket, click on the dropdown menu under “Type” and select your desired order type

Step 2: Key in your Limit Price, Quantity and other required information

Step 3: Under “More Trading Options”, select the “O.C.O” option and key in other necessary information

Step 4: Confirm your trade details, then click on the “Submit” button
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Market Order
Available in US market only on POEMS 2.0

What is a Market order?

A Market Order is an order placement with a defined quantity but without a price. It will be traded at the best price currently available in the market.

Frequently Asked Questions (FAQ)

A Market, MOO and MOC Order can only be placed within 80 minutes before the start of a market session. The purpose is for better risk management as the pre-market prices indicated then will be a better and more accurate reflection of the asset price at open.
Your orders will be rejected and you will need to replace them while adhering to the stipulated time. (within 80 mins before open)
A Market, MOO and MOC order allows immediate execution of a trade. The functions allow a trader to complete a trade quickly and completely.
Market Orders seek to execute at the prevailing prices and as such, a buy market order can be filled at a much higher price while a sell market order can be filled at a much lower price.

This will be magnified for illiquid counters that have large bid and ask spreads. There is a lack of control in terms of price precision.
A Limit Order requires a price specification and the trade may or may not fill. A Market/MOO/MOC order does not need a price specification and seeks to execute the trade at current trading price, opening price and closing price respectively.
A Market/MOO/MOC order, once executed, cannot be rejected and voided as it is a fair and valid trade.
No. Market & MOO orders are not applicable for new IPO counters before the start of a trading session. Only Limit Orders are accepted.
A MOO Order, placed before the opening of a market session, will fill you with the opening price. On the other hand, a Market order may not necessarily fill you with the opening prices if they are placed too close to the market opening session, for example 2 minutes before the opening of a market session.
Market, MOO and MOC orders placed during a stock suspension will resume its trading status after the suspension is lifted unless otherwise indicated.
Step 1: Under the trade ticket, click on the dropdown menu under “Order Type”

Step 2: Select “Market Order”

Step 3: Key in your desired Quantity and other required information

Step 4: Confirm your trade details, then click on the “Buy” or “Sell” button to submit your order
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Market-On-Open (MOO)
Available in US market only on POEMS 2.0

What is a Market-On-Open (MOO) Order?

A MOO Order is an order placement with a defined quantity but without a price. It is placed before a market is opened and will trade at the best price when the exchange starts trading. It is an order to execute at the day’s opening price.

What is the cut-off time to place/cancel a MOO Order?

NYSE – 2mins before market opens (by 09:28 ET)

NASDAQ – 2mins before market opens (by 09:28 ET)

NYSE MKT (former AMEX) – 2 mins before market opens (by 09:28 ET)

All order entries/withdrawals after cut off time may be accepted/rejected by the exchange for balancing of the opening/closing order.

Frequently Asked Questions (FAQ)

A Market, MOO and MOC Order can only be placed 80 minutes before the start of a market session. The purpose is for better risk management as the pre-market prices indicated then will be a better and more accurate reflection of the asset price at open.
Your orders will be rejected and you will need to replace them while adhering to the stipulated time. (80 mins before open)
A Market, MOO and MOC order allows immediate execution of a trade. The functions allow a trader to complete a trade quickly and completely.
Market Orders seek to execute at the prevailing prices and as such, a buy market order can be filled at a much higher price while a sell market order can be filled at a much lower price.

This will be magnified for illiquid counters that have large bid and ask spreads. There is a lack of control in terms of price precision.
A Limit Order requires a price specification and the trade may or may not fill. A Market/MOO/MOC order does not need a price specification and seeks to execute the trade at current trading price, opening price and closing price respectively.
A Market/MOO/MOC order, once executed, cannot be rejected and voided as it is a fair and valid trade.
No. Market & MOO orders are not applicable for new IPO counters before the start of a trading session. Only Limit Orders are accepted.
A MOO Order, placed before the opening of a market session, will fill you with the opening price. On the other hand, a Market order may not necessarily fill you with the opening prices if they are placed too close to the market opening session, for example 2 minutes before the opening of a market session.
Market, MOO and MOC orders placed during a stock suspension will resume its trading status after the suspension is lifted unless otherwise indicated.
Step 1: Under the trade ticket, click on the dropdown menu under “Order Type”

Step 2: Select “Market On Open (MOO)”

Step 3: Key in your desired Quantity and other required information

Step 4: Confirm your trade details, then click on the “Buy” or “Sell” button to submit your order
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Market-On-Close (MOC)
Available in US market only on POEMS 2.0

What is a Market-On-Close (MOC) Order?

A MOC order is an order placement with a defined quantity but without a price. It is placed during the market trading session and will be executed at the closing. It is an order to execute at the day’s closing price.

What is the cut-off time to place/cancel a MOC Order?

NYSE – 15min before market close (by 15:45 ET)

NASDAQ – 5min before market close (by 15:55 ET)

NYSE MKT (former AMEX) – 15 min before market close (by 15:45 ET)

Frequently Asked Questions (FAQ)

A Market, MOO and MOC Order can only be placed 80 minutes before the start of a market session. The purpose is for better risk management as the pre-market prices indicated then will be a better and more accurate reflection of the asset price at open.
Your orders will be rejected and you will need to replace them while adhering to the stipulated time. (80 mins before open)
A Market, MOO and MOC order allows immediate execution of a trade. The functions allow a trader to complete a trade quickly and completely.
Market Orders seek to execute at the prevailing prices and as such, a buy market order can be filled at a much higher price while a sell market order can be filled at a much lower price.

This will be magnified for illiquid counters that have large bid and ask spreads. There is a lack of control in terms of price precision.
A Limit Order requires a price specification and the trade may or may not fill. A Market/MOO/MOC order does not need a price specification and seeks to execute the trade at current trading price, opening price and closing price respectively.
A Market/MOO/MOC order, once executed, cannot be rejected and voided as it is a fair and valid trade.
No. Market & MOO orders are not applicable for new IPO counters before the start of a trading session. Only Limit Orders are accepted.
A MOO Order, placed before the opening of a market session, will fill you with the opening price. On the other hand, a Market order may not necessarily fill you with the opening prices if they are placed too close to the market opening session, for example 2 minutes before the opening of a market session.
Market, MOO and MOC orders placed during a stock suspension will resume its trading status after the suspension is lifted unless otherwise indicated.
Step 1: Under the trade ticket, click on the dropdown menu under “Order Type”

Step 2: Select “Market On Close (MOC)”

Step 3: Key in your desired Quantity and other required information

Step 4: Confirm your trade details, then click on the “Buy” or “Sell” button to submit your order
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Good-Till-Date (GTD)
Available in SGX only on POEMS 2.0, POEMS Mobile 2.0 and POEMS Mercury

What is a Good-Till-Date (GTD) Order?

A GTD Order is a type of order that is active until its specified date, unless it has already been fulfilled or cancelled.

If they haven’t been executed, all orders are cancelled at the end of the trading day on the date specified on the order, so GTD orders are used to cover longer periods of time. GTD orders are commonly used by long term investors who may want to buy or sell a lot of securities at a set price.

Frequently Asked Questions (FAQ)

GTD orders stay in order book in SGX REACH for the number of days you specify, up to a maximum of 30 calendar days, or until order is filled/ order is cancelled/ stock is delisted/ stock is suspended/ stock has corporate actions.

The calendar day is effective from the day when the order is received by SGX. For example, orders submitted in POEMS platform on Saturday will be release to SGX on the following Monday.
No, GTD is available in SGX market only.

A GTD order that is filled will be displayed as “Done” under the Order Status. You may refer to the table below to check the status of your GTD orders on the respective POEMS platforms.

PlatformCurrent DayNext Day
POEMS 2.0 Today’s Orders > Trade Done Past Orders > GTD Orders (Past 7 days)
POEMS Mobile 2.0 Today Orders Order History > GTD (Past 7 days)
POEMS Mercury Done Orders Order History
GTD orders that are in the order book are displayed under the “All Orders or Working Orders” screen in POEMS 2.0 and POEMS Mercury and under “Today Orders” in POEMS Mobile 2.0.
Orders with Good-Till validity will retain their queue priority based on their entry date and time. Currently only order quantity can be adjusted downward, therefore queue position is maintained.
Order is forgotten, order becomes unfavourable when market conditions change.

Higher commission charges if order is partially filled each day.
No. Both these order types are not stored in the order book.
GTD orders are validated against price limit (force-key range) upon order entry. If they are outside the force-key range and the force key indicator is not specified, they will be rejected.
Price limit for GTD orders is same as day orders.
  • No charge if order price is within force-key range upon order entry even if order prices are outside the force-key range on subsequent days reload.
  • There are force-key charges if order price is outside of force-key range upon order entry, force-key fee charges will not be calculated again on subsequent days reload
  • For each force key entered, there will be a deduction of 20 reward points. Depending on the number of rewards points you have accumulated, the following apply:

    Rewards Points Entitlements
    0 – 100 No force key
    101 – 1000 25 force keys per month*
    1001 onwards 50 force keys per month**

    *You need to have a balance of at least 101 rewards points so you can use up to 25 force keys.
    **You need to have a balance of at least 1,001 rewards points so you can use up to 50 force keys
GTD order entered prior to ex-date will be purged on ex-date of corporate actions (dividends, rights issues, bonus issues)

Exception: structured warrants will not be purged when there is corporate action declared for the mother share.
Step 1: Under the trade ticket, select your desired order type from the dropdown menu under “Order Type” (note: GTD Orders are only available for Limit Orders on POEMS 2.0)

Step 2: Key in your Limit Price, Quantity and other required information

Step 3: Under “Validity” / “Duration”, select “GTD” and indicate your desired GTD

Step 5: Confirm your trade details, then click on the “Buy” or “Sell” / “Submit” button to submit your order
POEMS 2.0
POEMS Mobile 2.0
POEMS Mercury
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Fill-Or-Kill (FOK)
Available in SGX only on POEMS Mercury

What is a Fill-Or-Kill Order?

A Fill-Or-Kill (FOK) order is an order to buy or sell a stock that must be executed immediately in its entirety; otherwise, the entire order will be cancelled (i.e., no partial execution of the order is allowed).

Frequently Asked Questions (FAQ)

Step 1: Under the trade ticket, click on the dropdown menu under “Type”

Step 2: Select your desired order type

Step 3: Key in your Limit Price, Quantity and other required information

Step 4: Under “Duration”, select “FOK”

Step 5: Confirm your trade details, then click on the “Submit” button
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Immediate-Or-Cancel (IOC)
Available in SGX only on POEMS Mercury

What is an Immediate-Or-Cancel (IOC) Order?

An Immediate-or-Cancel (IOC) order is an order to buy or sell a stock that must be executed immediately. Any portion of the order that cannot be filled immediately will be cancelled. This order is different from Fill-Or-Kill (FOK) order whereby this order allows partial filling, while Fill-Or-Kill (FOK) order does not allow partial filling.

Frequently Asked Questions (FAQ)

Step 1: Under the trade ticket, click on the dropdown menu under “Type”

Step 2: Select your desired order type

Step 3: Key in your Limit Price, Quantity and other required information

Step 4: Under “Duration”, select “IOC”

Step 5: Confirm your trade details, then click on the “Submit” button
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