Orders & Execution

IG Markets supports two primary order types: Market orders and Limit orders.

A market order fills immediately at the best available price during market hours. Execution is typically within seconds for liquid stocks.
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No price is guaranteed. The price you see when placing the order may differ slightly from the price you're filled at, due to market movements between the two moments. This difference is more noticeable with volatile or thinly traded stocks.

Market orders work best when:

Market orders can only be placed during market hours. If the market is closed, use a limit order instead.

A limit order lets you set the price you want to buy or sell at. Unlike a market order, it will only execute if the market reaches your specified price or better.

Limit orders can be placed at any time — including outside market hours. Orders placed when the market is closed are queued and will be considered for execution when the market opens.
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All limit orders on IG Markets are Good Till Cancelled (GTC), meaning the order remains active until it is fully filled or you cancel it manually.
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If you have a specific price in mind and aren't in a hurry, a limit order gives you more control over your execution price than a market order.

Yes. In the event of insufficient funds in your IG Markets Share account at the time of placing a limit order, the system may automatically cancel one or more existing orders based on priority level. Existing orders with furthest order level from the current market price are considered the lowest priority and may be cancelled without notification.

Regularly reviewing your active orders by navigating to Portfolio > Open Orders to ensure they remain in place.

Yes, you can trade based on the value of the estimated assets (crypto / equity) by entering the amount you would like to invest in instead of the number of the units.

Depending on the markets you are trading,

Yes. The system calculates an estimated number of units based on the quoted price or order level you have entered, which is displayed on the confirmation page prior to submission. Please note that the final number of shares received may differ depending on the actual execution price.
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For example, if you place a limit order to buy AUD $2,000 worth of ABC shares at an order level of $10.00 per share, the estimated number of shares displayed will be 200. However, if the order is executed at a more favourable price of $9.50 per share, your AUD $2,000 investment would result in 210 shares instead.

To trade US stocks, we are required to document all holders of securities which might pay US-incorporated income (e.g. dividends) in accordance with our obligations to the US tax authorities, the Internal Revenue Service (IRS).
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As part of the online application, you'll be guided through a few questions to fill out a W-8BEN form during Share account application journey. This confirms your foreign status and protects you from being taxed twice on any US dividends.

When selling equities on a share account, there is a 'settlement period' of 1 or 2 days before your funds become available to withdraw.

This time is used to exchange, clear and settle your trade and is a function of the underlying market we must follow.
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Within the settlement period:

This normally takes two days for AU equities (T+2) and one days for US equities (T+1). Once you've sold your shares you can use the cash to trade more shares immediately, you just won't be able to withdraw your funds until we've physically received them from our broker.

Yes, unsettled funds can be reinvested into a different stock within the same account. However, please note that funds cannot be transferred to another account or withdrawn prior to settlement being completed. This also applies to internal transfers to your Crypto account, which will not be available until the settlement process is finalised.

No, our settlements reflect the market settlement status of your trades on your Share account. While the vast majority of trades settle on time, there is the possibility of a delay that can cause the trade to remain unsettled on your account until it is settled in the market.

The settlement of your share / ETF may be delayed if:

Settlement for share / ETF positions typically takes between one and three business days, depending on the exchange. Should you require a status update, please do not hesitate to contact us and we will be happy to investigate further.

Yes, unsettled funds can be reinvested into a different stock within the same account. However, there are restrictions based on the settlement period of the original trade:

US shares (T+1) settle within one business day. Unsettled funds from US share sales can be used to trade other US shares while awaiting settlement.
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All other markets including ASX (T+2) settle within two business days. Unsettled funds from these sales cannot be used to trade US shares, as US trades require funds to be available within T+1.
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Please note that unsettled funds cannot be transferred to another account or withdrawn prior to settlement being completed. This also applies to internal transfers to your Crypto account.

If you attempt to cancel a market order when the market is closed, the cancellation will not take effect.

Like a GTC limit order, the market order will remain valid and carry over to the next trading day, where it will be eligible for execution when the market reopens.

Yes. The minimum order size depends on which ASX shares you're buying.