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Name

Description

DISCRETIONARY

Discretionary orders allow the broker to decide when to buy or sell a symbol.

ICEBERG

Iceberg orders are limit orders that display only a part of their quantity, the iceberg.

LIMIT

Limit orders are executed only at the specified limit price or better.

LIMIT_IF_TOUCHED

Limit if touched orders become a limit order once a specified price is touched.

LIMIT_ON_CLOSE

Limit on close orders are executed only at the market close at the specified limit price or better (otherwise they are cancelled).

LIMIT_ON_OPEN

Limit on open orders are executed only at the market open at the specified limit price or better (otherwise they are cancelled).

MARKET

Market orders are executed at the current market price.

MARKET_IF_TOUCHED

Market if touched orders become a market order once a specified price is touched.

MARKET_ON_CLOSE

Market on close orders are executed at the next market close at the closing price.

MARKET_ON_OPEN

Market on open orders are executed at the next market open at the opening price.

RELATIVE

Relative / Pegged-to-Primary orders are pegged to the best bid and best ask prices so that they offer a more aggressive price than the National Best Bid and Offer. They are used in order to increase the order's odds of getting filled.

STOP

Stop orders are executed at the market price when the specified stop price is reached.

STOP_LIMIT

Stop limit orders become normal limit orders when the specified stop price is reached.

STOP_LOSS

Stop loss orders are attached orders. They are attached to an entry order and are executed only when the trade that resulted from the entry order reaches a specified loss. If a trade is closed before its attached stop loss order is executed then the order is cancelled.

TAKE_PROFIT

Take profit orders are attached orders. They are attached to an entry order and are executed only when the trade that resulted from the entry order reaches a specified profit target. If a trade is closed before its attached take profit order is executed then the order is cancelled.

TRAILING_STOP_LOSS

Trailing stop/loss orders are attached orders. They are attached to an entry order and are executed only when the trade that resulted from the entry order reaches a moving stop/loss price. If a trade is closed before its attached trailing stop loss order is executed then the order is cancelled.

VWAP

VWAP orders are guaranteed by the broker to be executed at the VWAP price.