EZ SQUARE - A global leading

Order Types

Some order types, like take profit and stop loss, can be combined.
Traders should be familiar with the various order types before executing trades to avoid potentially catastrophic losses.
In general, traders should use limit orders to help ensure they are getting the prices and quantities they want.
One size does not fit all, and traders should consider their individual situations before deciding. It is important to understand how to choose the best order types for your trading strategy.

Knowledge Hub

Market Order A Market Order is an order to buy or sell at the prevailing market price. The execution of this Order results in the opening of a trade. Orders are bought at the ASK price and sold at the BID price. Stop Loss and Take Profit Orders can be included in a Market Order during its opening, or after it’s placed.

Pending Orders A Pending Order is an order that allows the user to buy or sell at a predefined price at some point in the future. Pending Orders are executed once the price reaches a predefined level.
Under certain trading conditions, it may be impossible to execute these orders at the requested price. In this case, the order will execute at the next best available price.
Stop Loss and Take Profit orders can be included in a Pending Order. Also, pending orders are good until canceled, meaning they will not expire and will remain active until they are filled or canceled. Buy Stop:This is an order to buy at a specified price (the stop price) that is higher than the current market price. Once the market reaches the stop price, the stop order is triggered and treated as a Market Order. Sell Stop:This is an order to sell at a specified price (the stop price) that is lower than the current market price. Once the market reaches the stop price, the stop order is triggered and treated as a Market Order. Buy Limit:This is an order to buy at a specified price (the limit price) that is lower than the current market price. Once the market reaches the limit price, the order is triggered and treated as a Market Order. Sell Limit:This is an order to sell at a specified price (the limit price) that is higher than the current market price. Once the market reaches the limit price, the order is triggered and treated as a Market Order.

Take Profit This type of order is used to realize profit when the price reaches a certain level. Executing this order results in closing the whole position. Such orders can be linked to a market or pending order.
Under this type of order, the trading platform checks when the Bid price reaches the Take Profit level for long positions, and when the Ask price reaches it for short positions. For long positions, the order is set above the current Bid price, and for short positions, it is set below the current Ask price. Take Profit Orders can be modified or canceled.

Stop Loss This type of order is used to limit loss if the price moves in an unfavorable direction. Executing this order results in closing the whole position. Such orders can be linked to a market or pending order.
Under this type of order, the trading platform checks when the Bid price reaches the Stop Loss level for long positions, and when the Ask price reaches it for short positions.
For long positions, the order is set above the current Bid price, and for short positions, it is set below the current Ask price. Take Profit Orders can be modified or canceled.