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