Order Types

We generally recommend setting a limit for your order. Caution is called for 'Market' orders, particularly for relatively illiquid securities.
Exception: Odd Lot (see Help, glossary) orders. These orders must usually be entered at Market.

Market Order

A market order is executed at the best bid or ask price available on the order book at the time of entry.

Limit Order

A price specified by the client for the sale or purchase of securities.

On Stop Order

Buy order. If the trigger price is reached, the order becomes a market order and will be executed at the next best price.

Stop Loss Order

Limited selling order. If the trigger price is reached, the order is converted into a market order and executed at the next best price.

Stop Limit Orders

If the trigger price is reached, the order becomes a limit order.