How do I place, track and amend a free conditional order?

Access to Conditional orders must be approved by your licensee. 

If you don’t see the ‘Conditional orders’ button on the left hand navigation panel please contact us at support@desktopbroker.com.au and we will contact the licensee to organise access.

Conditional orders allow you to create an order for equities, interest rate securities and warrants in advance with pre-defined trigger conditions. Once those conditions are triggered, the order is automatically entered into the market.

Conditional orders are free of charge and you can amend your active conditional orders as many times as you like at no cost.

Once a triggered conditional order is placed in the market, standard brokerage fees will apply.

Placing a conditional order

To access conditional orders, you need to login to your account, click on the 'Conditional Orders' button to activate conditional orders trading for the first time.

Trigger conditions (called conditional order parameters) include:

• Mandatory: Specified Limit trigger price or a Derived trigger price based on a percentage of the previous day's open/high/low/close price or an index value or index % change
• Option: Volume and Time triggers. Volume trigger allows you to benefit from increases in volume while Time triggers allow you to prevent your conditional orders from triggering during certain periods (e.g. during market open and close)

Your conditional order triggers only once: the first time the condition is met.

You can specify a trigger expiry date of up to three months. If the condition is not met within the time period you specify, your trigger will expire.

Tracking a conditional order

To view all active and historical conditional orders, go to ‘Trading & portfolio’ from the top menu – select the 'Conditional Orders' page.

From this page, you can view further details on a specific conditional order, check the status, amend and cancel individual or all active conditional orders.

Once your conditional order has been triggered you will receive an email.

Amending a conditional order or reinstating an expired order

You can amend or cancel your active conditional order at any time.

Go to ‘Trading & portfolio’ from the top menu, select 'Conditional orders' and you'll see your 'Conditional orders history'

Find the old conditional order you want to reinstate then under the status column click 'Reset'. The conditional order pad will display with pre-filled fields

Review all the trigger conditions and order instructions, then click 'Confirm' to create a new conditional order with a new ID

Stocks and funds are not locked after creating a conditional order. This gives you greater flexibility to plan future orders and manage existing positions. 

Please ensure you keep sufficient funds and stocks in your clients' account to support the order when triggered.

Cross stock conditional order

A cross-stock conditional order enables you to set trigger conditions based on a different stock than the one you wish to buy or sell. This is a useful trading tool when you believe movement in one stock is closely linked to or will lead to the movement in another stock.