An ordinary order, or a limit order for the purpose of Hong Kong stocks, allows you to buy or sell at a specified price.
You can choose whether to allow pre-market auction on the limit order page, which will affect the order submission logic.
A limit order placed from 4:10 PM on day T to 9:00 AM on day T+1 is a preset order, and will be submitted to the exchange as an at-auction limit order during the morning auction period for auction and matching. A limit order placed from 9:00 AM to 9:15 AM will be directly submitted to the exchange as an at-auction limit order for auction and matching. It cannot be changed or cancelled during 9:15 AM to 9:30 AM.
A limit order placed from 9:15 AM to 9:30 AM on Day T is a preset order and will be queued for submission to the exchange after 9:30 AM.
* Other notes: If pre-market auction is allowed, a limit order placed before 9:15 AM on Day T will be submitted as an at-auction limit order. However, the time period during which it can be submitted is inconsistent with that stipulated by the HKEX for at-auction limit orders. If you want to participate in auction according to the latest auction sessions stipulated by the HKEX, please use at-auction market orders or at-auction limit orders directly.
A limit order placed from 4:10 PM on day T to 9:30 AM on day T+1 is a preset order, and will be queued for submission to the exchange after 9:30 AM, and the queue may last for several minutes. If you want the order to be submitted faster, it is recommended to allow pre-market auction, or cancel the order and place a new one after 9:30 AM.
Normal trading hours (9:30 AM - 12:00 PM & 1:00 PM - 4:00 PM)
(1) An order will not be executed if the stock price has not reached or exceeded the limit price, and any unfilled limit order will be converted into an at-auction limit order after 4:01 PM.
(2) A limit order allows matching of up to 10 price queues at a time (you can buy or sell at a better price).
(3) The sell price cannot be lower than the best buy price by 9 spreads, and cannot be higher than the best sell price by 24 spreads (such spread depends on the share price of each stock).
(4) The buy price cannot be higher than the best sell price by 9 spreads, and cannot be lower than the best buy price by 24 spreads (such spread depends on the share price of each stock).
(5) For partially filled limit orders, only unfilled part can be cancelled or changed.
(6) During the process of change or cancellation, the original order is still in effect. There may be cases where the original order cannot be changed or canceled due to the fact that the original order has been fully filled during the process of change.
(7) An order will be filled at the best price in the market (i.e. market price) if the order price is higher than the market price in the case of a buy order, or is lower than the market price in the case if a sell order.
(8) You are not allowed to change any order during the lunch break, and cancellation is also not allowed during the period from 12:00 PM to 12:30 PM.
Placing limit orders is a convenient online trading method provided by Futu for clients. Futu works hard to provide stable services, but cannot guarantee their absolute reliability. Futu is not liable for any loss or damage arising from any failure to execute limit orders due to network interruption, server abnormality, and other physical factors.