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Topics: Trade Stocks
When placing a market order, you will have the option to execute it in real-time or at the “next market open”. When selecting “Next market open” or if the trade is placed after market hours, it will be scheduled to be executed when the market opens on the next trading day (9:30am ET).
The benefit for selecting this option is that these trades carry no or reduced commission fees. All automated trades (e.g. auto-invest, auto-rebalance) are also executed at the next market open.
Keep in mind, placing market orders at market open can be considered risky because a lot can change from market close one day to market open the next. For example, company’s earnings announcement with significant news, world events, and activity in international markets can all create volatility in overnight stock prices.
Commission-free trades are motif or single stock trades that carry no commission fees when executed.
In a Motif Impact account, all trades are commission free.
In a Motif trading account, all professional motif and single stock trades are commission-free when you select the option to trade at next market open. All auto-invest and auto-rebalance trades are also commission free.
With an optional Motif BLUE subscription, you get three commission-free real-time trades per month. Unused commission-free trades do not roll over to subsequent months.
If the stock in the motif you own pays a stock dividend, we will credit the additional stock shares to that motif. If the dividend is in cash, we will credit the money to your account and it will be reflected in your account balance.
We do not offer dividend reinvestment (DRIP) at this time, but are actively working on a solution. In the meantime, you may invest your cash from dividends into a stock at the next market open with no commissions.
Definitely! You can buy any motif or stock in real time with just one click during market hours. And, if you decide to sell the security, those orders will be sent to the market for execution in real-time.
When placing a market order, you may have the option to execute it in real-time or at the next market open. Choose the real-time option if you want your trade to be executed immediately during market hours. A commission fee may apply — see Fee & Commission Schedule for details.
After you buy or sell securities, settlement occurs when the security or cash proceeds is transferred to your account. This is commonly referred to as “T+2″ which stands for “trade date plus two days.” It can take up two days after the order executes for the transaction to settle and is the industry standard.
From your Motif dashboard go to “Account” and select “Orders”. You’ll see two tabs:
- Current Status
You’ll find your order in the corresponding tab and see a summary of the order (i.e. current status, fill dollar amount, etc.). Click on a motif order and you’ll see the details of each individual stock inside the motif.
You can buy or sell as little as .01 shares of a stock. And in the case where you own less than .01 shares, you can sell the entire position by selecting the option to “Sell All”.
You can choose to have these orders remain open for the following durations:
- Day. Your order remains open through the end of the trading day, and then will expire if it does not execute during the trading day. If you place a stop or limit order after market close, the order will carry over to the next trading day.
- Good ‘Til Canceled. Your order remains open until your order fills completely, you cancel the order, or 60 calendar days have passed and the order expires.
As a Motif customer, you can trade the following:
- Professional motifs
- Community motifs
- Single name stocks
- Initial public offerings (IPOs)
Note: Mutual funds and OTC/OTCBB securities trades are currently not supported on our platform
Motif offers these order types:
- Market. Buy or sell a motif at the current, best market price. A market order guarantees an execution but not a price. The order will execute on the best available price at the time.
- Limit. Buy or sell a stock at a specified price or better. A limit order guarantees a price but not an execution
- Stop*. Sell a stock only when the price reaches the stop price you specified. If the stop price is triggered, the order becomes a market order. At that point, the execution is guaranteed but not the price.
- Stop-Limit*. Sell a stock using the features of a stop order and a limit order. Limit price should be placed at or below the stop price. If stop is triggered then the order becomes a limit order to sell at specified limit price. Execution is not certain and depends on the spread between limit and the stop.
* Supported for sell orders at this time
No, at this time we do not support option transactions.