The Swap button provides an efficient way for you to close a position in one asset and open a position in another, all with a single order. You will see the swap button along with the Buy and Sell buttons when you tap an instrument in the Watchlist or in your Portfolio. Tap Swap, then tap Select and use the Search field to choose the replacement instrument. The Swap tool calculates how much of the new asset to buy based on the sell proceeds of the original instrument.
The Swap order is automated for your convenience, and consists of two legs: the SELL leg (the instrument you want to swap) and the BUY leg (the instrument you want to purchase).
Please Note
- You will sell ALL of the position you choose to swap.
- The buy leg of the swap is not submitted until the sell order executes completely.
- The quantity of the buy leg is contingent on the amount of cash proceeds from the sell order.
- Both legs use market orders.
- You cannot modify any order parameters of the swap.
- You can cancel both legs of the swap, or just the buy leg of the swap order.