Order types are the different instructions you give a broker to enter or exit a trade. The main ones are market orders (fill now at the current price) and pending orders such as limit and stop orders (fill later at a price you set). Choosing the right type controls your entry.
Forex Term
Order Types
The different instructions used to enter or exit a trade.
Example
A market order buys instantly, while a buy-limit order waits for a lower price you specify.
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Risk
Forex and CFD trading involves significant risk of loss and is not suitable for all investors. Leverage can work against you. This content is educational and not financial advice — always do your own research.