Pending Order(s)
Stop Orders: This is an order to buy or sell once the market reaches the ‘stop price’. Once the market reaches the ‘stop price’ the ‘stop order’ is triggered and treated as a ‘market order’*. If the ‘stop order’ is not triggered it shall remain in the system until a later date subject to the conditions described in the ‘Good till Cancel’ section. In Contracts for Difference (‘CFDs’) on FX, Spot Metals and Futures, ‘stop orders’ should be placed a minimum number of pips away from the current market price.
Stop Loss: This is an order to minimize losses. Once the market reaches the ‘stop loss price’ the order is triggered and treated as a ‘market order’*. If the ‘stop loss’ is not triggered it shall remain in the system until a later date. In CFDs on FX, Spot Metals and Futures ‘stop loss’ should be placed a minimum number of pips away from the current market price.
Limit Orders: This is an order to buy or sell once the market reaches the ‘limit price’. Once the market reaches the ‘limit price’ the ‘limit order’ is triggered and executed at the ‘limit price’ or better. If the ‘limit order’ is not triggered it shall remain in the system until a later date, subject to the conditions described in the ‘Good till Cancel’ section. In CFDs on FX, Spot Metals and Futures ‘limit orders’ should be placed a minimum number of pips away from the current market price.
Take Profit: This is an order to secure profits. Once the market reaches the ‘take profit price’ the order is triggered and treated as a ‘limit order’. If the ‘take profit’ is not triggered it shall remain in the system until a later date. In CFDs on FX, Spot Metals and Futures ‘take profit’ should be placed a minimum number of pips away from the current market price.
Good till Cancel (‘GTC’) (= Expiry): This is a time setting that the client may apply to ‘pending orders’. The client may choose a specific date in the future until which the order may remain ‘live’ and pending execution. If the order is not triggered during this timeframe it shall be deleted from the system.
Pending Order Modification / Cancellation: The client may modify/ cancel a ‘pending order’ if the market did not reach the price level specified by the client.