An order to buy or sell a set quantity at a sepcified price or better.
|Stop Loss||A resting order that becomes a market order if the bid or offer for a currency pair reaches the predefined stop price. This order type is designed to limit an investor's loss on position.||X||X||X||X|
|Stop Limit||A resting order the combines the features of stop order with those of a limit order. A stop-limit order will be executed at a specified price (or better) after a given stop price has been reached. Once the stop price is reached, the stop limit order becomes a limit order to buy (or sell) at the lmiit price or better.||X||X||X||X|
|Trailing Stop||A complex stop-loss order where the stop loss price is set at a fixed percentage or number of points below the market price. On a buy order, if the market prices rises, the stop loss price rises proportionately. On a sell order, the stop loss price doesn't change.||X||X||X||X|
|If Done (IFD)||A conditional order which consists of two separate orders. This order type is used where a Good-Til-Cancel order is entered. If that order is executed, a take profit or stop loss order is subsequently submitted.||X||X||X||X|
|One Cancels the Other (OCO)||A resting order that assumes the user already has a position in the market. An OCO order allows the user to enter both a take profit AND a stop loss order in the market at the same time; Once an OCO order is submitted, both legs are active. When one of the orders is executed in full, the other order is auotmatically cancelled. Each leg must have the same quantity and be for the same currency pair.||X||X||X||X|
|If Done, One Cancels the Other (IFD/OCO)||If Done and OCO orders can be utilized in combination with an IFD order, providing the user has a combined market entry and exit strategy submitted. The execution of the IFD order will trigger the second pair of orders, OCO (which combines take profit AND stop loss order) to be submitted.||X||X||X||X|
|Market||An order immediately executed at the current market rate.||X||X|