Conditional orders are a risk-management tool that can be most effective if markets move rapidly. These orders trigger buys and sells automatically under conditions set by the trader which means investors can lock-in possible gains or minimise losses even if they are not watching the market.

“Conditional orders can help take the emotion out of trading as well as keep investors on course with their trading strategies,” said Darren Moglia, head of broking at Westpac Online Investing.

“By making these conditional orders free to all of our investors, we are providing practical and effective tools to manage their trades and protect their potential profits,” Mr Moglia added.

Westpac Online Investing is the first to offer a full range of conditional orders free of charge. Other trading platforms offer these orders, but they usually come at a price. The price investors pay can be higher than any gains made on shares traded.

“Conditional orders are not new to the market but we believe offering them free of charge will encourage investors to employ sound risk-management trading strategies that provide peace of mind,” Mr Moglia said.

Two of the most popular conditional orders are:

Trailing Sell Order – allows you to protect your profit on a rising stock by trailing the market as it moves up and automatically selling your holding should the share price drop suddenly to, or below, your trail stop value

Trailing Buy Order – can maximise value when purchasing a stock that is trending down by hitting a trigger when the market falls to, or below, your start price and purchasing the stock should it subsequently rise to, or above, your trail stop value.

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The AFR Smart Investor SMILES survey allows subscribers to nominate which organisations are offering them the best service. 

Westpac Online Investing scored particularly well for website speed, reliability, layout and navigation. James Staltari Head of Westpac Online Investing noted that while pricing is important to customers, the overall service and reliability is what really counts.

“This award is exciting, as it is recognition by our customers that we are listening to them, and are able to deliver a market-leading product based on their ever increasing sophistication and investment requirements,’ Mr Staltari said. 

“The award also reflects the commitment shown by the team at Westpac Online Investing to offer a market-leading product in an increasingly competitive market place,” Mr Staltari said. 

In March, Westpac Online Investing launched the new Westpac Cash Investment Account and sharply reduced brokerage to as low as $19.95. 

Significant upgrades to Westpac Online Investing over the past 12 months have added a broader range of investments including a managed funds supermarket and international shares. 

“We remain committed to increasing our market share and are considering a range of further upgrades to the product so that more customers will turn to Westpac Online Investing for its breadth of investment options, unrivalled research and value for money,” Mr Staltari said.

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