Orders and Trade Execution

Average Entry Price

Average entry price is the weighted average price at which a position has been established through multiple executions or additions.

Conditional Order

A conditional order is an instruction that becomes active only after specified conditions are met. Stop losses, take profit orders and certain trig...

Entry Price

Entry price is the price at which a trader enters a position. If the position is built through several executions, the platform may instead display...

Execution Price

Execution price is the actual price at which an order, or part of an order, trades. It can differ from the price visible when the trader submitted...

Exit Price

Exit price is the price at which some or all of a trading position is closed. A position closed through several executions may have an average exit...

Fill or Kill (FOK)

Fill or Kill, or FOK, instructs a platform to execute the entire order immediately or cancel it. The order should not remain open or be partially f...

Good Till Canceled (GTC)

Good Till Canceled, or GTC, is a time in force instruction that keeps an order active until it is filled, canceled or otherwise removed according t...

Immediate or Cancel (IOC)

Immediate or Cancel, or IOC, instructs the platform to execute as much of an order as possible immediately and cancel any remaining unfilled portion.

Limit Order

A limit order instructs a trading platform to buy or sell at a specified price or better. Unlike a market order, it gives the trader control over t...

Limit Price

The limit price is the price specified by a trader when placing a limit order. It defines the price boundary at which the trader is willing to exec...

Maker

A maker is a market participant whose order adds liquidity to an order book rather than immediately matching an existing order.

Maker Fee

A maker fee is the trading fee applied when an execution qualifies as adding liquidity to the market under the platform's rules.

Market Order

A market order instructs the trading platform to execute immediately against the best available prices in the order book. It prioritizes execution...

Open Order

An open order is an order that has been submitted but has not yet been completely filled or canceled. It remains capable of executing if its condit...

Order

An order is an instruction submitted to a trading platform to buy, sell, open, reduce or close a position under specified conditions. Different ord...

Order Fill

An order fill occurs when some or all of an order is successfully matched and executed against another order in the market.

Order Type

An order type is the set of instructions that determines how a trading order should behave. Common examples include market orders, limit orders, st...

Partial Fill

A partial fill occurs when only part of an order is executed. The remaining quantity may stay open, be canceled or behave according to the order's...

Post Only

Post only is an order instruction designed to ensure a limit order is added to the order book as maker liquidity rather than immediately executing...

Reduce Only

Reduce only is an order instruction designed to ensure an order only reduces or closes an existing position rather than increasing it or opening a...

Stop Limit Order

A stop limit order activates a limit order after a specified trigger condition is reached. The trader therefore sets both a trigger condition and a...

Stop Loss

A stop loss is a predefined exit instruction intended to reduce or close a position when the market reaches conditions that invalidate the trader's...

Stop Market Order

A stop market order becomes a market order after its trigger condition is reached. Once activated, it attempts to execute against the available liq...

Stop Order

A stop order is an order that becomes active when a specified trigger condition is reached. Depending on the order type, it may then submit a marke...

Take Profit Order

A take profit order is an instruction designed to reduce or close a profitable position when specified price conditions are reached. Depending on t...

Taker

A taker is a market participant whose order immediately executes against liquidity already available in the order book.

Taker Fee

A taker fee is the trading fee applied when an execution removes existing liquidity from the order book under the platform's rules.

Time in Force

Time in force determines how long an order remains active and how it should behave if it cannot be filled immediately. Common instructions include...

Trading Fee

A trading fee is a charge associated with executing a trade on a trading platform. The amount can depend on factors such as order type, trading vol...

Trailing Stop

A trailing stop is a dynamic stop instruction that adjusts as the market moves favorably by a specified distance or percentage. If the market subse...

Trigger Price

A trigger price is the price level or reference that activates a conditional order when the platform's specified conditions are met. Depending on t...