What is a Limit order?

By placing a Limit Order, a client is requesting to buy or sell a foreign currency position at a specified price, if obtainable. A Limit Order to buy generally will be executed when the ask price equals or falls exceeds the price or exchange rate specified in the Limit Order. A Limit Order to sell generally will be executed when the bid price equals or falls or exchange rate specified in the Limit Order. A Limit Order remains in effect until cancelled by the client or, if it is linked to an open position, until that position is liquidated. Clients should note, however, that market conditions may often prevent execution of an individual Customer's Limit Order despite other dealing activity at that price level.

What is a Stop Loss order?

By placing a Stop Loss Order, a client is requesting to liquidate a foreign currency position at a specific price. These orders are often used to minimize exposure to losses if the market moves against a trader's position. Buy stops are buy orders for a predetermined price over the current price of the market. This order becomes a "Buy at the market" order if the market is at or above the price of the stop order. Sell stops are sell orders for a predetermined price below the current price. Sell-stop orders become "Sell at the market" orders if the market trades at or below the price of the stop order. A stop-loss order placed on a buy position is an order to sell that position. A stop-loss order on a sell position is an order to buy that position. A stop-loss order remains in effect until the position is liquidated or cancelled by the client. Clients should note, however, that market conditions may often prevent execution of an individual Customer's Stop Loss Order at or even around the specified price despite other dealing activity at that price level.