A ‘Market order’ is the simplest order type. It is an order to buy or sell at the prevailing market price.
A “Pending Order” is an order to buy or sell at a pre-defined price in the future. The following types of pending orders are available:
- Buy Limit
- Buy Stop
- Sell Limit
- Sell Stop
You can attach a Stop Loss and/or Take Profit to any order.
*You can modify a Stop Loss/Take Profit level before or after the order has been executed, but the order itself cannot be modified or deleted when it is being executed by the broker.