ETFs or ASX direct shares can be sold either at a) ‘market price’ or as b) ‘limit order’.

a) Market price orders can be placed during market trading hours, between 10am and 4pm (AET) from Monday to Friday (excluding national public holidays). During these times, the ETF will be sell order will be made immediately at the current market price.

b) Limit orders can be placed any time. You’ll be able to choose a price at which you’d like to sell the investment (this can be set at a maximum of 3% above or below the prevailing market price.) If you choose a limit order, you’ll need to select your order expiry to either be the next trading day or within four weeks of the order date. Your transaction will be listed as pending until your limit order price is reached. While pending, you can cancel your order in Transaction History in your account menu. If your limit price order expires before it can be sold the transaction will be cancelled and listed in your Transaction History as cancelled.

How to sell units in an ETF or ASX direct shares