Place order to Purchase 'at market' at open

[Spottz]

Is it possible for me to place a CFD order to open a position at the market price at the open of the market.  ie. place the order while the market is closed, to be executed at market open?

 

 

[JakubIG]

On 01/07/2021 at 01:19, Spottz said:

Is it possible for me to place a CFD order to open a position at the market price at the open of the market.  ie. place the order while the market is closed, to be executed at market open?

 

 

Hi @Spottz, 

When the market is closed you can place a limit/stop order to buy/sell. 

In my example, I'm placing a stop order to buy 100 shares at the price of 249. This means that I'm willing to buy 100 shares at the price of 249 or higher. 

If the market will open at 248, my order will NOT be executed. If it will open at 249.01 or 380 it will be executed. 

If you are looking to place an order which will buy the shares at whatever price it will be at the opening, this is not possible.

Thanks,

Jakub

[Spottz]

@jakubIG thanks for yr reply, but I am a little confused. Why would yr order to buy not be executed when the market open lower than yr buy price, that would be to yr advantage.  I would expect all buy orders greater than market price to execute.