Market Order
Market orders are executed at the best available price at the time the order is received.
Limit Orders
Limit orders are executed at the order rate or better. Sell limit orders are filled when the bid reaches the requested rate; limit orders to buy are filled on the offer.
Stop Orders
A stop order is an order to buy or sell once a pre-defined price is reached. When the price is reached, the stop order becomes a market order and is executed at the best available price.
Stop Entry Order - this is an order placed to buy above the current price, or to sell below the current price. These orders are useful if you believe the market is heading in one direction and you have a target entry price.
Stop Loss Order - this is an order placed to sell below the current price (to close a long position), or to buy above the current price (to close a short position). Stop loss orders are an important risk management tool. By setting stop loss orders against open positions you can limit your potential downside should the market move against you.
Remember that stop orders do not guarantee your execution price – a stop order is triggered once the stop level is reached, and will be executed at the next available price.
Time and sales reports for a specific period can be requested by contacting customer service.
Trailing Stops
A trailing stop allows a trade to continue to gain in value when the market price moves in a favorable direction, but automatically closes the trade if the market price suddenly moves in an unfavorable direction by a specified distance. When the market price moves in a favorable direction (up for long positions, down for short positions), the trigger price follows the market price by the specified stop distance. If the market price moves in an unfavorable direction, the trigger price stays stationary and the distance between this price and the market price becomes smaller. If the market price continues to move in an unfavorable direction until it reaches the trigger price, an order is triggered to close the trade.
Please note: Trailing Stops work in the client terminal, and not in the server. This means if you close the MetaTrader platform before the Trailing Stop triggers/starts to trail, the Trailing Stop will be cancelled. If you close the platform after the Trailing Stop triggers, the Trailing Stop will turn into a regular Stop Order at the level the Trailing Stop was when the platform was closed.
All of the above orders may be entered as Day Orders, entered today and good until end of New York business day (5pm New York time). Or, customers may choose to enter a Good 'til Cancelled Order (GTC), which is valid for 90 days from the date the order is entered or until the order is executed or cancelled.
Orders remain open until they are triggered or cancelled. If a position is closed manually, any order(s) relating to that position must also be cancelled.
Placing contingent orders may not necessarily limit your losses.
Minimum Placement Distance
Limits and stops must be set at least 1 pip away from the prevailing market price.
Order Expiry
End of Day (EOD) orders automatically expire at 5pm New York time on the same day the order was entered. Good ‘til Cancelled (GTC) orders automatically expire on the Saturday following the 90th calendar day from the date the order was entered.
Orders Left Over the Weekend or Holidays
FOREX.com’s trading hours are from Sunday at 5pm New York time through Friday at pm New York time . Orders (e.g. stops, limits, and contingent orders) left pending over a weekend or holiday period will not be executed until FOREX.com resumes regular trading hours.
