At JustMarkets, we offer both market and pending orders to cater to various trading strategies and preferences. Here's a detailed overview of the order types available for JustMarkets accounts.
Market orders are executed immediately at the current market price.
- Buy Order: A buy order opens at the Ask price and closes at the Bid price.
- Sell Order: A sell order opens at the Bid price and closes at the Ask price.
Pending orders are instructions to buy or sell an asset at a specified price in the future.
- Buy Limit: An order to buy at a price lower than the current market price. It is used when you expect the price to drop before rising.
- Buy Stop: An order to buy at a price higher than the current market price. It is used when you expect the price to continue rising after reaching a certain level.
- Sell Limit: An order to sell at a price higher than the current market price. It is used when you expect the price to rise before falling.
- Sell Stop: An order to sell at a price lower than the current market price. It is used when you expect the price to continue falling after reaching a certain level.
- Buy Stop Limit (MT5 only): A combination of a Buy Stop and a Buy Limit order. When the Ask price reaches the Buy Stop level, a Buy Limit order is placed at a specified price.
- Sell Stop Limit (MT5 only): A combination of a Sell Stop and a Sell Limit order. When the Bid price reaches the Sell Stop level, a Sell Limit order is placed at a specified price.
- Take Profit: This is an order to close a position at a specified profit level. It ensures that profits are secured once the market reaches the target price. For the Buy order, the TP level is higher than the open price, while for the Sell order, the TP level is lower.
- Stop Loss: This is an order to close a position at a specified loss level. It helps manage risk by limiting losses if the market moves against your position. SL is placed lower than the open price of the Buy order and higher than the open price of the Sell order.
JustMarkets offers only Market Execution for all trading accounts. This means that orders are executed at the current market price, ensuring immediate execution but with the possibility of slippage.
Comparison of Market and Instant Execution
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