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Accounts and conditions

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General
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Trading conditions
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Trading
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Order types
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Risk
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Concepts
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Islamic
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Trading Order Types

The trading platform of the Company executes various order types:




Market order


Market order is an instruction to buy or sell a currency pair at the current market price. The transaction is performed instantly via the Trading Platform and at the price showing the market order window or via telephone at the price quoted by the dealer.


In conditions of high volatility the opening of a position can be done in two ways:

  • While opening the position, a Client may be offered to accept a new market price which will be different to the price originally announced to the Client, due to sudden market price movements or for any other reason the Company deems appropriate. In this case, the client will need to accept the new quoted price so as his order to be deemed received by the Company.


  • A Client can also set a deviation range in which the acceptable execution price may fluctuate. In this case a position will be opened by no further confirmation requested if within the range set.


Pending order


Pending order – is an order to open a trading position at a price different from the current market price. The order transactions are performed at the time when the market reaches the requested execution price level specified by the pending order of the Client.


In conditions of high volatility and due to possible price gaps (after weekends, on holidays, after macroeconomic data releases) all submitted pending orders are performed at the first price available after the price gap.


In certain market conditions, when performing an order (Sell Limit, Buy Limit, Sell Stop, Buy Stop, Stop Loss and Take Profit) at the requested price is impossible, the Company has the right to perform the order at either requested or the current market price. Such situations occur at times of abrupt market price changes at the beginning or during the trading session.




Linked limit and stop orders


There are two main types of orders linked to an open position or a pending order: Stop-loss and Take-profit:

  • Stop-loss order is a type of linked order designed to limit possible losses either on an already open position or on a position that will be opened by a pending order.


  • Take-profit order is a type of linked order designed to close for a profit an already open position or a position that will be opened by a pending order.

Active linked orders are automatically deleted if the parent trading position is closed or a pending order is deleted.


Linked stop-loss and take-profit orders are executed at the price set by a Client except in the case of high-volatile market when these orders may be performed at the first price available on the market.




OCO (one cancels other) orders


OCO (one cancels other) order is a combination of two pending orders set to open a position at a price different to the current market price. Execution of one of the two orders leads to an automatic removal of the remaining one. OCO order filling policy is the same as that of the pending order.




Activation orders


Activation order is a pending order activated once the current market price has reached the level of activation.


Activation order filling policy is the same as that of the pending order.




Trailing Stop order


A Trailing Stop is the same as a Stop Loss Order with the only difference being that, instead of setting a price at which the Order is activated the Trailing Stop Order is activated at a fixed distance from the market price. For example, if Customer has purchased a long open position and the market Ask Price increases, the Trailing Stop price will also increase and will trail behind the market Ask Price at the fixed distance set by Customer. If the market Ask Price then decreases, the Trailing Stop price will remain fixed at its last position and if the market Ask Price reaches the Trailing Stop price, the Order will be executed.




Read full Order Execution Policy.

 

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