Web Trading F A Qs
Get answers to frequently asked questions about trading securities online through M&T Web Trading.
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When will an order be executed?
Orders are executed only during market hours. During market hours, orders may be reviewed by an M&T Securities, Inc. Brokerage Representative. After your order has been received and accepted, it will be released to the appropriate stock exchange for execution. Afterwards, it will appear on the Order Status screen for online viewing.
NOTE: Orders placed between close of trading one day and the open of trading the next day are queued for execution during the next regular trading session. Equity orders placed online at or near the regular trading session's close (between 3:45pm and 4:00pm ET) may be held until trading resumes during the next regular trading session. You should not assume that these orders have been executed or canceled. Be sure to review the Order Status page.
How do I enroll in M&T Web Trading?
To access M&T Web Trading, you will need an M&T Securities, Inc. brokerage account and Internet access (please see system requirements). If you already have a brokerage account, you can enroll in M&T Web Trading online.
How do I receive confirmation if an order has been executed?
Order Status will indicate “Executed.” Any orders that cannot be accepted are listed as "Rejected." If an order is rejected, the M&T Securities, Inc. Brokerage Services Desk will attempt to contact you at the primary telephone number on file. However, you, as a user of M&T Web Trading, agree to monitor the status of your “Open/Pending” order on the Order Status page until the transaction is rejected or an execution is confirmed as having been "Executed."
What does it mean if an order has the status "executed," "pending," "open" or rejected"?
An order is "Executed" when a released order to buy or sell securities has been completed.
"Pending" is the status of an order between the time a client enters an order to buy or sell securities in M&T Web Trading and the time an M&T Securities, Inc. Brokerage Representative reviews, accepts and releases or rejects the trade to the market for execution.
An "Open” order is an order to buy or sell securities that has been released to the market but has not yet executed.
Orders that cannot be accepted are listed as "Rejected." If an order is rejected, the M&T Securities Brokerage Services Desk will attempt to contact you at your primary telephone number.
What if I need to cancel an order?
You can attempt to modify or cancel unexecuted orders on the Order Detail page. Off-hour orders may be modified or canceled before the market opens. Please note that all cancelations and modifications to open orders are subject to prior execution. To be certain that an open order can be modified or canceled, please call 1-800-724-7788, option 2 Monday–Friday 8:30am–5:00pm ET to speak with a Brokerage Representative.
Are there orders that connot be modified?
Yes, market orders placed during market hours cannot be modified.
What happens to orders placed during extremely volatile markets?
Periods of market volatility and high volumes of trading, heavy Internet traffic or technical problems (such as problems with your modem, computer or Internet service provider) may delay or prevent the execution of your order.
As a result, your order may be executed at a price significantly different than the market price displayed at the time you entered your order. You can protect yourself and limit your losses if you know what you are buying and the risks of your investments, and can take additional steps to guard against typical problems investors face in volatile markets.
The following examples explain how market volume, volatility and the type of order you place can affect the price at which your order is executed.
Most days, more than a billion shares of stock are traded on the New York Stock Exchange. Stock prices can move very quickly – up and down. This is especially true in volatile market situations when securities prices can fluctuate dramatically in a very short period of time.
Placing Market Orders
If you place a market order to either buy or sell securities, you cannot be assured of the price at which your order will ultimately be executed. Market orders are executed at the "best available price."
Placing Limit Orders
A limit order allows you to avoid buying at a price higher than you want or selling at a price lower than you want. A limit order is an order to buy or sell a security at a "specific price or better." The trade will only be executed within the price restriction.
Example of a Buy Limit Order
A client puts in a limit order to buy XYZ Corporation at $30 when the stock is selling for $32. Even if the stock reached $30.01, the trade will not be executed. The trade would only be executed if the stock had moved to a price of $30 a share or lower.
Example of a Sell Limit Order
Similarly, a client puts in a limit order to sell XYZ Corporation at $33 when the price is $31. In this case, the trade will not be executed until the stock is bid at $33.
What should I do if I have trouble accessing the M&T Web Trading site? In that case, how do I get my order executed?
Please contact us at 1-800-724-7788, Monday–Friday 8:30am–5:00pm ET. A Client Service Representative will assist you. NOTE: Trades placed with a Financial Advisor may not be entitled to the M&T Web Trading commission schedule.