A market order is an order to buy or sell which is to be filled at the current exchange rate quotation. If your order is unable to be filled, you may utilize the "at best" feature which will execute your order at the next best available price.
An
entry order is an order that is executed when
a particular price level is reached and/or broken.
The execution of these orders remains in effect until the client cancels the order.
Stop entry orders are executed when the exchange
rate breaks through a specific level. The client
placing a stop entry order believes that when
the market's momentum breaks through a specified
level, the rate will continue in that direction.
Limit entry orders are executed
when the exchange rate touches (not breaks)
a specific level. The client placing a limit
entry order believes that after touching a specific
level, the rate will bounce in the opposite
direction of its previous momentum.
A
stop-loss is an entry order linked to a specific
position for the purpose of stopping the position
from accruing additional losses. A stop-loss
order placed on a Buy position is a stop entry
order to Sell linked to that position. A stop-loss
order remains in effect until the position is
liquidated or the client cancels the stop-loss
order.
A limit order is a limit entry order linked
to a specific position for the purpose of locking
in the gains on an existing position. A limit
order placed on a Buy position is a limit entry
order to Sell that position. A stop-limit order
remains in effect until the position is liquidated
or the client cancels the stop-limit order.
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Type
of Forex Orders