The trading platform of IFC Markets has several order forms, including market order, pending order, related order, OCO (select order), conditional order.
The trailing stop distance of the server (that is, the trailing stop distance can continue to work after the client shuts down the computer).
Market Order – An order from a client to place a buy/sell transaction at the current market price.
It is executed immediately according to the price displayed on the trading platform, or according to the quoted price by telephone.
Transactions can be made with the maximum deviation specified by the client. In the case of rapid price fluctuations and network delays, trades are executed as follows:
If the market price exceeds the set maximum deviation, the system will give the customer a new market price.
In this case the customer can accept the new market price to complete the order.
If the current market price is within the maximum deviation, the order will be executed at this new price.
Pending Order — An order from a client to complete a buy/sell transaction at a price that differs from the market price.
Types of pending orders:
- Sell Limit – A short order is placed above the current market price.
- Buy Limit – A long order is placed below the current market price.
- Sell Stop – a short order is placed below the current market price.
- Buy Stop – A long order is placed above the current market price.
The transaction is completed when the market price reaches the price set by the pending order.
Sell Limit, Buy Limit orders are executed at the customer’s price or better.
Sell Stop, Buy Stop orders are executed at the customer’s price, except in the case of price interruption, when the price is interrupted, the transaction will be executed at the price that first appeared in the market.
Stop Loss and Take Profit
There are two types of related orders for open positions and pending orders—Stop Loss and Take Profit:
A Stop Loss order is a pre-specified limit for the maximum loss, and the price set is worse than the price at which the position is established or the price at which the pending order is executed.
A Take Profit order is to close a position when the price reaches a predetermined profit price level, and it is set at a price that is better than the price at which the position was opened or the pending order was executed.
The position is automatically closed when the price reaches the stop-loss or take-profit associated order.
When closing a position and deleting a pending order, its associated orders – Stop Loss Order and Take Profit Order will be deleted at the same time.
Take Profit orders are executed at the client’s price or better.
A stop-loss order is executed at the client’s price, except in the case of a price interruption, which is executed at the first market price that occurs when the price is interrupted.
One Cancel the Other (OCO) only for NetTradeX platform
Selection order — two pending orders that differ from the market price, one of which is executed and the other is automatically deleted.
The selection order conforms to the normal pending order rules.
Conditional order (only for NetTradeX platform and MT5)
Conditional order is a type of pending order that activates when a set price is reached.
MT5 platform conditional orders will be canceled by Stop Limit and Sell Limit orders
Conditional orders conform to normal pending order rules.
Trailing Stop provides a function to automatically update stop-loss orders.
The rule is: if the profit of the position exceeds the set distance, the stop-loss order will move so that the market price and the level of the stop-loss order remain at this level.
If the stop-loss order is not set at the beginning of the transaction, but the trailing stop loss distance is set, then when the profit reaches this set distance, the system will automatically set the stop-loss order.
In the NetTradeX platform, the trailing stop distance runs on the server, that is, when your client terminal is closed, the trailing stop distance still runs.