Market if Touched order

Market (MKT) if Touched order is a type of order that is automatically submitted by the system when the market price reaches the trigger price. The trigger price can be set as the current market price, bid price, or ask price. MKT if Touched order does not guarantee execution at a specific price and may deviate from the trigger price. It is similar to a Stop order, but MKT if Touched order is placed above (below) the current market price, whereas a sell stop order is placed below the current market price.

● A sell MKT if Touched order is always placed above the current market price and is usually used to lock in profits from a long position.

● A buy MKT if Touched order is always placed below the current market price and is usually used to lock in profits from a short position.

Features:

• Your purchasing power or position will not be verified when placing an order, only verified when the conditions are met.

• If the pending trigger order is equal to or greater than 50 orders, you cannot continue placing trigger condition orders.

• For cash accounts: The amount of pending trigger orders must be less than twice the account's net assets.• For margin accounts: The amount of pending trigger orders must be less than five times the account's net assets.• Orders are limited to U.S. stocks and U.S. stock options.

1. Example:

1.1 Buy Direction:

Assume you have a short position with a cost price of USD40. If you submit a buy MKT if Touched order with a trigger price of USD30 when the market price is USD50, the order will be automatically submitted to the market at market price when the market price reaches USD30 or below (but execution price is not guaranteed).

1.2 Sell Direction:

Assume you have a long position with a cost price of USD10

If you submit a sell MKT if Touched order with a trigger price of USD25 when the market price is USD20, the order will be automatically submitted to the market at market price when the market price reaches USD25 or above (but execution price is not guaranteed).

2. Order Time:

Orders can be placed anytime through our mobile app

3. Order Duration:

Clients can choose to have their orders valid until the end of the day or valid until canceled (GTC). If an order is not fully executed within the order expiry period, the system will automatically cancel the order. .

If an order fails before the order was transmitted due to risk control, corporate actions, or other reasons, the order status will be updated as order failure, and the system will no longer continue submit the order.

4. Trigger Time

The trading session can be set as "Include Extended Hours" or " Only Regular Hours” The order will have trigger conditions based on the different set time periods. Once the conditions are triggered, the system will automatically submit the default order to the market.

5. Explanation and Notes

5.1 Placing a conditional order does not immediately freeze purchasing power or positions. Validation will only occur when the order meets the trigger conditions. Please note that triggering a conditional order does not guarantee successful submission to the upstream broker or exchange and It is possible for the failure of order placing due to insufficient purchasing power or positions in the account.

5.2 After triggering an order, there is no guarantee of execution. Triggering a MKT if Touched order means the system automatically submits a market order once the trigger price is reached during the validation process. The order processing logic for triggered orders is the same as regular orders. If there is no matching, the order will be automatically canceled after the expiry period.

5.3 After triggering an order, whether the corresponding order is executed, the trigger conditions will not be activated again. If needed, please place a new order.

5.4 After triggering an order, the system will submit a market order. For the convenience of client’s order management,, the order type will remain unchanged and still be displayed as a triggered MKT if Touched order.

5.5 After triggering an order, the maximum purchasing power of the account will be used to determine if the order can be submitted to the market, and financing may be used.. Placing a trigger order does not freeze the purchasing power. However, if the order amount in the cash account exceeds twice the net asset value of the account, the order cannot be placed. Similarly, if the order amount in the margin account exceeds five times the net asset value of the account, the order cannot be placed.

5.6 Orders do not support executing multiple directions simultaneously. If the order quantity is higher than the product’s current position when triggering, the order will not be executed. In other words, the order cannot simultaneously buy and buy-to-cover, or simultaneously sell and short selling. .

5.7 If there are 50 or more pending trigger orders, client cannot continue placing trigger orders.