Description:

So, you’re ready to place your first trade. That’s great! But how exactly do you do it? You need a way to convey all the information about your trade so that it can be executed on the market. In forex trading, this is known as ‘placing an order’. So, what order types are there? Some of the most popular are market orders and pending orders. A market order is the most common. If you want to open or close a trade immediately, you can use a market order. A pending order, meanwhile, will only execute if certain conditions you set are met.