Throughout the site you will see references to different types of contract and orders. We hope this page will help you to gain a clear understanding of these terms but please feel free to contact us for more information.

A trade is agreed based on the current market price in the live market. 

A client can either do this manually by logging into their secure account platform online, or by calling the dealing desk and booking their trade instantly. Once this is done, you will be able to track your open position within the “Trade” tab of the “Terminal” on the MT4 platform.

Pending order contracts can also be placed manually online via your secure account platform, or by calling the dealing desk.

This allows the client to agree on the placement of an order within the market / instrument of their choice, whenever the market reaches their desired price. This is ideal for clients who are not in a position to monitor the markets constantly.

If you wish to go long (buy) at a price above the current market price you use a Buy Stop

If you wish to go short (sell) at a price below the current market price you use a Sell Stop

If you wish to go short (sell) at a price above the current market price you use a Sell Limit

If you wish to go long (buy) at a price below the current market price you use a Buy Limit

Scenario

The client has been watching the stock of “Megahope Inc.” and their strategy tells them that this company is a “Buy” when it gets to a certain price – we’ll say when it gets to $100. The client is not in a position to monitor the price movements of “Megahope Inc.” on a daily basis. They can see that the company is slowly creeping up towards their target so they need a solution.

Solution

The client can access their MT4 platform and place a “Pending Order” to purchase “Megahope Inc.” when it reaches $100. Once the client has submitted this order, it will activate immediately and automatically when the price breaches the $100 level. The client can see exactly how to place a pending order in the “MT4 Guide”. 

Alternatively, the client can simply phone the Dealing Desk, and request that the order is placed for them. In either instance, the order will be visible within the “Terminal” of the MT4 platform.

If you only wish to place a trade on a specific market at a specific price, you can manually place a limit order online via your secure account platform to ensure that you enter the market at your ideal level.

Stop orders can be used to protect against the market moving adversely against you. It can also be used to allow clients to lock in a worst case scenario while holding out for a better rate

LetsTrade.com provides educational services of a general nature, not advice, none of which takes into account your objectives, financial situation or needs. The content of this Website must not be construed as personal advice.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. LetsTrade.com recommends that you seek independent advice from a financial advisor and review our risk warning before proceeding.

Please click here to read full risk warning.

© 2023 LETSTRADE