Only part of order filled

[gav]

I put in a buy order this morning for 8000 shares. However, only 1300 of these were filled. What happens if my buy order expires and the rest of my order isnt filled? Does that mean I only own 1300 and still have to pay brokerage? The cost of brokerage would be the same as the total amount is under 10K as im with Commsec. But purchasing just 1300 really wouldnt be worth it considering cost of brokerage...

 

[Whiskers]

I put in a buy order this morning for 8000 shares. However, only 1300 of these were filled. What happens if my buy order expires and the rest of my order isnt filled? Does that mean I only own 1300 and still have to pay brokerage? The cost of brokerage would be the same as the total amount is under 10K as im with Commsec. But purchasing just 1300 really wouldnt be worth it considering cost of brokerage...

With E*trade what I do when an order doesn't look like filling at my price, I can adjust my ordered number of shares and price, being careful to stay on or under the original amount of money and the order goes through with two or some times three different buy prices and only the one original lot of brokerage.

Calculate the cost of the shares you have plus the full brokerage, subtract that from your original order amount, then divide the balance by the price you want to pay, rounding down to meet or under your original amount.

Might work on other platforms too.

 

[gav]

With E*trade what I do when an order doesn't look like filling at my price, I can adjust my ordered number of shares and price, being careful to stay on or under the original amount of money and the order goes through with two or some times three different buy prices and only the one original lot of brokerage.

Calculate the cost of the shares you have plus the full brokerage, subtract that from your original order amount, then divide the balance by the price you want to pay, rounding down to meet or under your original amount.

Might work on other platforms too.

Thank-you Whiskers, I did not think of that. However, if the buy order expires will I still be charged brokerage on those 1300 shares?

 

[Whiskers]

Thank-you Whiskers, I did not think of that. However, if the buy order expires will I still be charged brokerage on those 1300 shares?

I suspect you will be charged the minimum... but your order should be good for about a month I think.

 

[cutz]

I could vaguely recall that happening to me once, I put an order through on a Friday, was partially filled, then the following Monday the order was complete. I received two contract notes but the total of the brokerage was the same as if it would have been a single contract note.

Cutz.

 

[gav]

Thank-you for your replies. This was my first "short term trade" so to speak, and with not a whole lot of volume I ended up paying a bit more than I had hoped. Never the less I have sold already, and made a nice little profit

 

[steve80]

Hi. Many times brokers will only charge you for one order price if the order is completely filled in one trading day. Other way to be sure your order is filled completely is to select all or none feature when placing your stock market order. That way your order will be executed when all share can be bought at the same time. I do that when buying thousands of stock shares at the same time.

 

[Prospector]

I dont think NAB offers that all or none feature; but even if it did, many of my orders have been filled through buying in different 'batches' (they appear as batches on the contract note) so by clicking that option, I wouldnt have as many orders filled overall.

 

[Whiskers]

I suspect you will be charged the minimum... but your order should be good for about a month I think.

... unless you tick the 'good for the day' box or your system defaults to good for the day.

 

[gav]

Yes, I clicked 'good for day' Whiskers. Thats why I was worried, it wasnt worth purchasing just over 1000 shares considering the brokerage. Although, it was MPO that I traded yesterday, so I would have had a win anyway!