Ustocktrade currently only offers cash accounts and the following order types are available to users.
Market Order: A market order is a type of order that is priced at the current bid (sell order) or offer (buy orders) for that particular stock, within 10% of the current price.
Limit Order: A limit is a type of order that enables you to pick a specific price you wish to buy or sell a stock at.
Price Alerts: Automatic alerts when a price has reached your specified Buy or Sell price.
Strategies: You can place three types of strategies:
Buy Stratergy– to buy more stock at a specific limit price; Good for 30 days or until canceled
Sell Strategy- to sell stock you own at a higher limit price; Good for 30 days or until canceled
Get Out – a sell order at a lower price to limit your loss.; Good for 30 days or until canceled
Get Out Strategy vs Alert Strategy
- With a Sell Alert Strategy, you enter an Alert price below the market where you want to get out if the stock drops. If the stock trades at that price or lower you will be notified so that you can enter your sell order.
- With a Get Out strategy, you enter a quantity of shares and an Alert price below the market where you want to get out if the stock drops. If the stock trades at that price or lower you will be notified, and we will automatically sell your shares at the market for you.
- A Get Out Strategy is similar to a stop-loss order. It allows you to set up a sell order, set at a price lower than the current price, to limit your losses if the price of the stock drops. A stop loss order, however, is a special type of order that is entered into the market at the time it was created, the order contains both the trigger price and the order price (i.e. sell at market). With a Get Out Strategy, no order is entered into the market until the alert is triggered, once the Alert is triggered, then a new order is created to sell the shares at the market. Note that that for both a stop-loss order and a Get Out Strategy, a market order will be placed once the get out or stop price is reached, and it is not guaranteed that the execution will be at Get Out or stop price.
$10,000 per Trade Order Limit
As the first retail stock trading network, Ustocktrade operates as an ATS that allows users to directly trade with each other. A 10,000 share and $10,000 order value limit on each buy or sell order ensures that users in the network are the types of “retail investor” Ustocktrade is aimed at.
This limit is per order only, not for your total buy or sell order value per day.