Forex Order Types
Understand how to make money and manage your risk exposure through Market Orders, Take-Profit Orders and Stop Loss orders.
This blog is reader-supported. Please open a trading account through our links to buy us a coffee. Affiliate commissions keep our reviews impartial and ad-free.
What is a Market Order?
With a market order, you instruct a broker to execute a trade as soon as possible at the prevailing market price.
What is a Limit Order?
With a limit order, you set the maximum purchase price or the minimum sale price at which a trade is to be executed.
What is a Stop Order?
You can think of a stop order as the reverse of a limit order. A stop order allows selling below the current market price or buying above the current market price if the stop price is reached or breached.
What is a Trailing Stop Order?
A trailing stop order is a variation on a stop order: the stop price moves according to parameters you set instead of staying fixed.
Best Execution
MT5 Floating - Market Execution
Trade 70+ currency pairs, indices, energies and metals on floating spreads with market execution. ... More
- $500 deposit
- 1:200 leverage ?
- 1.51 pips EUR/USD
- Regulators: Bahamas, Cyprus (EU), South Africa, UK
Best Conditions
Raw Account
Trade CFDs on raw spreads from 0.2 pips plus a $4 commission per round, on MetaTrader 4 or 5. This ... More
- $200 deposit
- 1:500 leverage ?
- 0.2 pips EUR/USD
- Regulators: Cayman Islands, Cyprus (EU), Saint Vincent and the Grenadines, UAE, UK
Best Platform
AvaTrade Account [BVI]
Trade 55 currency pairs on fixed spreads, plus CFDs on crypto-currencies, stocks, indices, bonds and... More
- $100 deposit
- 1:400 leverage ?
- 0.9 pips EUR/USD
- Regulators: Australia, BVI, Cyprus (EU), Gibraltar, Israel, Japan, South Africa, UAE