Order types

The following order types are supported by the BP:

• Market: An instruction to instantly buy or sell a certain asset amount at a currently best price on the market. Such orders are not listed in the order book.

• Limit: An instruction to buy or sell a certain asset amount at a specified price. Limit orders are placed in the order book and executed only after the market price reaches the specified limit price (or at a better price).

• Stop market: Such an order is not placed unless the current market price meets a specified stop (or trigger) price, after which the order is placed as a regular market order due to be executed or cancelled, depending on its Time in force.

• Stop limit: The order is similar to the stop market order in the sense that you need to indicate the stop price at which the order must be placed, after which it becomes a regular limit order awaiting execution at a specified limit price.

For stop buy orders, the stop price should be above the best ask price; for stop sell orders, the stop price should be below the best bid price (otherwise, the orders will be activated instantly).

Refer to Time in Force to learn about execution parameters that can be specified for different order types.

Take profit, Stop loss, Trailing stop

When trading on CFD markets, the following triggers can be enabled to manage investments and mitigate risks:

• Take profit: A take-profit trigger is used to close the position automatically once it hits a predefined price, ensuring the trader locks in profits. For example, if a trader opens a long position on ETH/USD at $2000 and sets the Take profit trigger at $2100, the platform will close the position automatically when the market price reaches $2100, securing the trader's profit.

• Stop loss: A stop-loss trigger is a used to limit potential losses. It automatically closes the position when its price changes to a predetermined level. For example, if a trader opens a long position on ETH/USD at $2000 and sets the Stop loss trigger at $1900, the position will be closed if the price drops to $1900, capping the loss to $100 per 1 Lot.

• Trailing stop: A trailing-stop trigger allows a trader to set a Stop price that dynamically adjusts as the market price moves. It's different from a regular stop-loss order because the Stop price isn't stationary but follows the market price by a specified percentage. When the asset price moves favorably, the Stop price updates, securing potential gains. However, if the price falls, the Stop price stays fixed to protect profits or limit losses. For example, a trader opens a long position on ETH/USD at $2000 and sets the Trailing stop trigger at $1900 with 10,000 points adjustment. If ETH rises to $2200, the Trailing stop increases to $2100. A drop to $2100 triggers the position closing, locking in gains.

When placing an order, traders can apply a variety of triggers, applicable to all order types: Market, Limit, Stop market, and Stop limit. Multiple triggers can be applied simultaneously.

The triggers can be adjusted anytime before a position is fully closed. The Take profit, Stop loss, and Trailing stop always operate the current position volume.

For buy orders, the triggers are activated by the top-of-the-book bid price. For sell orders, the triggers are activated by the top-of-the-book ask price.

Triggers do not activate if an account is in the Stop out state.

However, if the position persists after the Stop out, triggers can then be activated.