What are the different order types?
We support 3 different order types at the moment: Market orders (in dollars or in shares), limit orders, and stop-loss orders.
Market Orders in Dollars
This order type allows you to input your order in a dollar amount, starting with a minimum of $1. You trade at the market price, and your order is executed immediately at the available market price.
Market Orders in Shares
This order type allows you to input your order in numbers of shares, starting at 0.000000001, but subject to a minimum of $1. You trade at the market price, and your order is executed immediately at the available market price.
Limit Orders:
A limit order is an instruction to buy or sell a stock at a specific price or better. For a buy limit order, the trade will only execute at the set price or lower. For a sell limit order, the trade will only execute at the set price or higher. This gives you control over the price you pay or receive, but there’s no guarantee the order will be filled if the market doesn’t reach your limit price.
Stop-Loss
A stop-loss order is an instruction to automatically sell a stock once its price reaches a specified level, known as the stop price. The goal is to limit potential losses if the stock’s price drops.
Once the stop price is reached, the order becomes a market order and will sell at the next available price — which might be slightly higher or lower depending on market conditions.