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Order Types
Key Features |
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The FX Trading Station gives traders the ability to make 5 different types of orders: |
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| Market Order |
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| This is your order to buy or sell at the price available at that time. In the Dealing Rates window, simply go to the currency pair you want and click on its Buy or Sell price. |
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The "Create a Market Order" window will appear, and you will see the current, updated price in the rate window. Here you can select your Order Type:
At Best (default) = Execution Certainty Your entire order will be filled at the best available price(s) at the time the No Dealing Desk System receives it. |
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The order will usually be filled at the price you see on the screen. Occasionally, however,
if the market has moved while you are making your order, the price may differ. |
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Market Range = Price Certainty
Use this option to limit your order to being |
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| filled at your price, or within a certain distance of the current price. |
Example: If you set the Market Range to 5, as much of your order as possible will be filled no more than 5 pips away from the current price. If the price suddenly moves more than that, the order will not be filled. The advantage here is Price Certainty. |
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