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Order Types Order Types

There are many different types of orders that traders can place with their brokers. These include market orders, that fill instantly at the market price, limit orders, where the trader specifies the exact execution price and the order will not fill unless it fills at that price, and many others, including complex orders such as OCO orders (one-cancels-other). This category includes in-depth information about most of the various types of orders supported by US brokers.

  • Order Types

    Types of Trading Orders 

    There are many types of trading orders used by traders to execute trades in financial markets. Here are some common types of trading orders: Market Order A market order is an order to buy or sell a security at the best available price. This type of order is generally executed quickly and is used when …
    Types of Trading Orders
  • Order Types

    What Is a Limit Order? 

    A limit order is a type of order used in trading securities that allows the investor to set a maximum buy price or minimum sell price for a security. When placing a limit order, the investor specifies the price at which they are willing to buy or sell the security, and the order will only …
    What Is a Limit Order?
  • Order Types

    What Is a Market Order? 

    A market order is a type of order used in trading to buy or sell a security immediately at the prevailing market price. In other words, when a trader places a market order, they are requesting to buy or sell a stock, bond, or other financial asset at the best price currently available in the …
    What Is a Market Order?
  • Order Types

    What Is a Stop Order? 

    A stop order, also known as a stop market order or stop-loss order, is a type of order used in trading to enter or exit a position once the market price reaches a specific level known as the “stop price”. A stop order is triggered when the market price reaches the stop price, and it …
    What Is a Stop Order?
  • Order Types

    What Is a Stop Limit Order? 

    A stop limit order is a type of order used in trading that combines a stop order and a limit order. A stop order is an order to buy or sell a security once it reaches a certain price, known as the stop price. A limit order is an order to buy or sell a …
    What Is a Stop Limit Order?
  • Order Types

    What Is a Trailing Stop Order? 

    A trailing stop order is a type of order used in trading that allows traders to set a stop loss at a certain percentage or dollar amount below the market’s most recent high price. Unlike a regular stop loss order, which remains fixed at a certain price level, a trailing stop order adjusts the stop …
    What Is a Trailing Stop Order?
  • Order Types

    What Is a Market-On-Close (MOC) Order? 

    A market-on-close (MOC) order is a type of stock order that instructs the broker to buy or sell a security at the closing price of the trading day. This means that if you place an MOC order, your trade will be executed at the prevailing market price at the end of the trading day. Pros …
    What Is a Market-On-Close (MOC) Order?
  • Order Types

    What Is a Limit-On-Close Order? 

    A limit-on-close (LOC) order is a type of order that instructs a broker to buy or sell a security at a specified price or better, but only if the trade can be executed at or near the closing price of the trading day. When a trader places an LOC order, they specify a limit price …
    What Is a Limit-On-Close Order?
  • Order Types

    What Is a Good ‘Til Canceled (GTC) Order? 

    The good ’til canceled (GTC) order type is often the default order type in many brokerage accounts and is used by traders who are looking to capitalize on long-term market movements. GTC orders allow traders to specify a purchase or sell order that will remain in effect until the trader manually cancels the order or …
    What Is a Good ‘Til Canceled (GTC) Order?
  • Order Types

    What Is an Immediate or Cancel (IOC) Order? 

    An immediate or cancel (IOC) order is a type of order that requires that all or part of the order be executed immediately or canceled. If the order cannot be fully executed immediately, then any portion of the order that cannot be filled will be automatically canceled. Pros and Cons of Immediate or Cancel Orders …
    What Is an Immediate or Cancel (IOC) Order?
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