Description:

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