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Order Types

ORDER TYPES

The term "Order" refers to how you will enter or exit a trade. There are many different types of Orders that can be placed into the market. You can execute a trade at current price, create a conditional order to execute a trade when the rate hits a certain price above/below the current price or even create advanced orders. Below are the most common types of Orders used in trading:

  • Market (M)
  • Limit (L)
  • Entry Limit (EL)
  • Stop Loss (SL)
  • Entry Stop (ES)
  • Trailing Stop (TS)
  • IF Done (ID)
  • One Cancels Other (OCO)

Conditional Orders/Distance

Please note conditional orders are subject to conditional distance settings. Conditional distance is the distance from the market (in pips) that a conditional order can be placed. Conditional orders include all above listed order types. A Market (M) order is not a conditional order but can include a conditional order which is subject to conditional distance settings and therefore can affect its execution. Conditional distance settings differ per Instrument and per Platform and are a minimum of the stated standard spread. Conditional distance settings are not fixed and may increase to a multiple of the minimum conditional distance setting throughout the trading day.

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