Order types

Flexibility is important to every trader, regardless of strategy. You want to be able to place a trade at a moment’s notice or analyze and plan ahead. The order types we offer help you do just that.

Market Order

A market order is the most basic order type and the most common.

You’d use it when wanting to place a trade immediately by either buying or selling a currency pair. Once placed, your order will be filled at the best available price.

A market order can be used to open a new trade or close or reduce an existing one.

Limit Order

A limit order is a type of pending order that only executes at the specified price or better.

To sell a currency pair at a specified price or higher, you’d use a sell limit order. To buy a currency pair at a specified price or lower, you’d use a buy limit order.

A limit order can help you be more precise about when you enter the market. Bear in mind though, if the price you specify is not reached, your order will never be executed.

You can choose how long your limit order remains open with various duration types. These include GTC (Good Till Cancelled), where your order remains open until you cancel it, and GTD (Good Till Date), where it remains open until a date you specify.

Stop Order

A stop order is a type of pending order that only executes when the specified price is reached.

To buy a currency pair at a specified price, you’d place a buy stop order. To sell at a specified price, you’d use a sell stop order.

Stop orders are also known as stop-loss orders and can be used to manage risk when trading.

Bear in mind, stop orders are always executed at the best available price depending on market conditions.

Why is execution important?

We’ve invested heavily in technology to try and provide you with the best possible execution when you enter the market. We firmly believe that every trader should have access to quality execution and competitive pricing, each time they place a trade.

Read our Order Execution Policy >