| [ Kinds of Order ] |
| Open Contract ( Order ) |
New open order, either 'Buy' or 'Sell' |
| Liquidation Contract ( Order ) |
Order executed in the opposite direction to close an open position. |
|
( 1 )
Market Order
An order to buy or sell at the current bid and ask prices. |
( 2 )
Limit Order
In Leveraged FX & CFD trading, an order that specifies a more favored buying or selling price ( buying lower or selling higher ) to buy or sell than the prevailing market prices. The order will not be executed if the specified price is not reached.
* When setting limit order, the price should have a difference of more than 10 ticks from the market price in question, and Spot Gold ( Commodities CFD trading ) limit order requires a difference of more than 20 pips from the market price in question. |
( 3 ) Stop Order ( Cut Loss Order )
In Leveraged FX trading, an order that specifies an unfavorable buying or selling price ( buying higher or selling lower ) to buy or sell than the prevailing market prices in order to liquidate any open position so as to prevent further losses. If the set price is not reached, the order will not be executed.
* When setting limit order, the price should have a difference of more than 10 ticks from the market price in question, and Spot Gold (Commodities CFD trading) limit order requires a difference of more than 20 pips from the market price in question. |
( 4 ) OCO ( One Cancels Other )
Irrespective of market movement, a set of buy and sell orders is placed with designated profit and loss in perspective. If one side of the order is executed, the other opposite order will be automatically cancelled. If the specified prices of either side have not been reached, the order will not be executed.
* When setting OCO order, the price should have a difference of more than 10 ticks from the market price in question with the 2 set prices having a difference of more than 20 ticks. FX OCO order should have a difference of more than 10 ticks from the market price in question with the 2 set prices having a difference of more than 30 ticks. Spot Gold ( Commodities CFD trading ) OCO order should have a difference of more than 20 ticks from the market price in question with the 2 set prices having a difference of more than 40 ticks. |
( 5 ) IF-DONE
When placing a new limit order to buy or sell, another limit order is placed simultaneously with the intention to liquidate the new open position in question, if executed. If the price of the new limit open order is not met, the order will not executed. Furthermore, even if the new open order is executed, the liquidation limit order will not be effective if the specified price is not reached.
* When setting IF-DONE and IF-DONE OCO orders, the price should have a difference of more than 10 ticks from the market price in question with the 2 set prices having a difference of more than 20 ticks. FX IF-DONE and IF-DONE OCO orders should have a difference of more than 10 ticks from the market price in question with the 2 set prices having a difference of more than 30 ticks. Spot Gold ( Commodities CFD trading ) IF-DONE and IF-DONE OCO orders should have a difference of more than 20 ticks from the market price in question with the 2 set prices having a difference of more than 40 ticks. |
| |
|
| |
| [ Effective Order Duration ] |
| ( Good-for-day ) |
| |
Monday to Thursday |
Friday |
| Regular Time |
Effective until 7:00 am the next day |
Effective until Sat, 6:00 am |
| Summer Time |
Effective until 6:00 am the next day |
Effective until Sat, 5:00 am |
|
| |
| ( Good-till-Friday ) |
| Regular Time |
Effective until Saturday, 6:00 am |
| Summer Time |
Effective until Saturday, 5:00 am |
|
| * 7:00 am during regular time and 6:00 am during summer time ( Friday 6:00 am and 5:00 am ), open orders not liquidated will be 'rollover' and SWAP gains/losses will come into effect. |
| |
| ( Good-till-Cancel ) |
