Buy a set number of shares
under review
Pasqual Carstens
Merged in a post:
Purchase share by quantity
Bill Kong
Would be great if we could just allow to purchase by quantity, so I don't need to change the calculator in the middle of placing an order.
I understand most users are happy to invest by dollar value, but for people who is buying and selling the same stock in portion, buy and sell by quantity the best way to go around.
Also selling the exact quantity for each transaction will make book keeping and tax filing much easier.
Pasqual Carstens
Merged in a post:
Buy and sell shares by quantities
Bill Kong
Buy and sell shares by quantities besides by value.
Pasqual Carstens
Merged in a post:
Buying ASX shares - change it to units or how many shares you want to buy
W
WayneChan
When buying ASX shares, at the moment you can only type in the $ amount, can you change it to units or how many shares you want to buy; other brokers have how many units/shares you want to buy.
Hayden Smith
under review
Hayden Smith
Hi everyone, can you help me understand the value this feature would bring?
C
Cameron McCay
Hayden Smith: The benefits of using share units instead of dollar values are evident when scheduling trades before the market opens or after it closes, or when prices fluctuate between initiating a trade or its execution. Currently, when using dollar values, I need to calculate the current price multiplied by the number of shares or the total value I wish to purchase. I then add a margin of safety (MOS) to the trade for potential price fluctuations during my market order.
However, this approach becomes particularly problematic when dealing with high-priced shares. If the margin of safety is insufficient, there's a possibility of having several hundred dollars remaining uninvested. This occurs because the MOS did not cover the purchase of the final share due to insufficient funds in the order caused by the price fluctuation.
For example, without a MOS, let's say I have $5,000 in my account want to buy approx $3,000 of a VTS priced at $300 each and approx $2,000 of VAS. If I initiate my first trade at $3,000 of VTS I should have 10 shares. However, if the price fluctuates and reaches $300.05 before the order executes, I would only end up with $2,700.45 ($300.05 x 9) invested in VTS which would then leave me $2,299.55 to invest in VAS, which has significant altered the amounts I wanted in VTS and VAS due to a tiny price fluctuation.
If I were able to select the number of shares I wanted to buy, 10, my trade would have executed at $3,000.50 which is much closer to my target of $3,000 in VTS and $2,000 in VAS.
By enabling the purchase of shares in units, I eliminate the need to calculate a margin of safety based on dollar values. Consequently, any price fluctuations would not hinder my trades as long as I have sufficient funds in my account.
Hayden Smith
Cameron McCay: Hey Cameron, thanks for this! It makes sense why you wouldn't want an order to go through with N-1 share units instead of N.
In the scenarios where we can't fulfil an order for N units with available funds, would you be happy if the order failed?
C
Cameron McCay
Hayden Smith: In this scenario I would still prefer to purchase N-1 units. However, if the order would fail instead of purchasing N-1 units, I would still use this feature and try to make sure I have the funds available.
V
Vijay Trivedi
Should have been included since inception. Not sure why it was not.
Claude Sortwell
Merged in a post:
Quantity of stock transacted
D
Dicky Lai
Please can we specify the quantity of stocks transacted instead of inversely working it out by the dollar value? It’d be great if the same can apply to US stocks as well (once limit order is available). Thanks.
Claude Sortwell
Merged in a post:
Purchase number of shares
Alexic Carlos
I would love it if we could specify the number of shares to purchase rather than the dollar value when making a trade.
Claude Sortwell
Merged in a post:
Purchase a set number of shares
D
Duncan Fairley
Vanguard has both options
Claude Sortwell
Merged in a post:
Be able to purchase stocks/ETFs in number of units instead of amount in dollars?
S
SimonDemler
Title of the post. I'd like to have a different option when purchasing a stock to be able to purchase in units instead of calculating it myself based on how much $$ is in my wallet
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