Order Types

Here are different types of Order Types

• Limit: allows a trader to specify a maximum price they are willing to pay when buying, or a minimum price they are willing to accept when selling. The order is only executed if the market reaches the specified price (or better).

• Market: an instruction to buy or sell an asset immediately at the best available market price. Market orders prioritize speed and execution over price control.

• Stop-Limit: combines features of a stop order and a limit order. It becomes a limit order when the market price reaches a specified "stop" price. The trade is then executed only if the market price meets the conditions of the limit price.

• Stop-Market: converts into a market order once the market price reaches the specified "stop" price. Execution occurs immediately at the best available price after activation, ensuring the trade happens, but without price guarantees.