Market Orders:
A market order is an order to buy or sell which is to be filled immediately at the current exchange rate quotation. Friedberg Direct
works diligently to give immediate fills on all market orders up to $1 million on larger orders, if Friedberg Direct is unable to fill the order at the specified rate, Friedberg Direct will send the client a new price representing the current market rate.
All this applies ONLY during normal market conditions. During
excessive market volatility slippage may not always be avoidable.
Entry Orders:
An entry order is an order that is executed when a particular price level is reached and/or broken. The execution of these orders are under the supervision of the dealing desk and remain in effect until the client cancels the order.
Stop Entry Orders:
Stop entry orders are executed when the exchange rate breaks through a specific level. The client placing a stop entry order believes that when the market's momentum breaks through a specified level, the rate will continue in that direction.
Limit Entry Orders:
Limit entry orders are executed when the exchange rate touches (not breaks) a specific level. The client placing a limit entry order believes that after touching a specific level, the rate will bounce in the opposite direction of its previous momentum.
Stop-Loss Orders:
A stop-loss is an entry order linked to a specific position for the purpose of stopping the position from accruing additional losses. A stop-loss order placed on a Buy position is a stop entry order to Sell linked to that position. A stop-loss order remains in effect until the position is liquidated or the client cancels the stop-loss order.
Limit Orders:
A limit order is a limit entry order linked to a specific position for the purpose of locking in the gains on an existing position. A limit order placed on a Buy position is a limit entry order to Sell that position. A stop-limit order remains in effect until the position is liquidated or the client cancels the stop-limit order.
All this applies ONLY during normal market conditions. During
excessive market volatility slippage may not always be avoidable.
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