A conditional order can be placed online by logging into your CommSec account and navigating to Trading > Conditional Orders > Placed Conditional Order.

Please take note of below when placing your conditional order:

Trigger and limit prices
When you place a conditional order, you set a 'trigger price' and a 'limit price'. When the share price rises or falls to your trigger price, CommSec endeavours to place a limit order into the market on your behalf. This limit order will be subject to the CommSec Trading Terms and Conditions (T&Cs) including the general conditions of trade and trading rules (expiry after 20 trading days or 'good for day' for standard accounts, or five trading days for Margin Loan accounts, or as otherwise cancelled in accordance with the T&Cs). A Conditional Order Instruction remains valid in the event of a Trading halt unless the ASX purges orders for the security from the market.

Is the placement of the order guaranteed?
No, there is no guarantee that CommSec will sell or buy the stock if the trigger has been fired. The limit order must satisfy regular market rules prior to placement. There are a number of limitations on the placement of orders, into the market as set out in the CommSec Trading Terms and Conditions.

What if a conditional order is not triggered?
If your conditional order is not triggered, it will expire after 12 months. They are automatically removed, and you will have to place a new trigger.

Please note: Conditional orders may also be purged by the ASX as a result of a corporate action. Conditional Trading triggers are also removed from the system at any time if the ASX purges orders for that share from the market. This usually happens only if there is a change in the basis of quotation or some other corporate action.

You can find more information about conditional trading by clicking here.

Conditional orders are subject to CommSec Trading Terms and Conditions, including the Conditional Order Instruction terms and conditions, available from commsec.com.au, please review before placing a conditional order.