Market order

A Market order is your request to buy or sell a financial instrument (for example currency pair) at the current market price. The execution of this order leads to a position opening.

You can set a Market order through the "Make Deal" dialog box. This dialog box can be opened via:

• the “Market watch" window by double clicking on the currency pair;
• the “Chart” context menu by a right click on the chart of the currency pair;
• the "Make deal" context menu with a click on the line of the currency pair;
• the “Trade” bookmark of the main menu – “Make deal”.

In “Make deal” box you will see the name of the currency pair and two prices: ASK (for buying) and BID (for selling). To choose another instrument click on the arrow to visualize the list of all available instruments. You can also do it by pressing the Instrument Browser button [...]

To perform a transaction set the following parameters:

• The currency pair via the list of the available instruments or the Instrument Browser.
• Volume of a deal in the base currency (first currency in a quotation sign).
• Lock mode ON (tick the Lock box)/OFF
• Take-profit price – tick the Take-profit field and enter the price.
• Stop-loss price – tick the Stop-loss field and enter the price.
• "Trailing Stop distance" mode - tick the Trailing Stop distance field and enter the distance.
• the mode of transaction to be performed (selecting the “By any price” field) with the allowed “Deviation” from suggested price or by any available price (if “Any” field marked instead of “Deviation)

Press the “SELL” or “BUY” button. The dialog box will be blocked until the server response. A sell will be performed on the ASK price and buy on the BID price.

The result of the operation will be displayed in the "Success" information message containing the name of the instrument, Server Identification number of the operation, the volume of the deal in the base currency units and the volume of the deal in the quotated currency units.

By ticking the appropriate boxes you can activate and use “Lock” mode, orders “Take-profit” and “Stop-loss”, “By any price” mode. Nevertheless, these parameters are not required to set a Market order.

Take-profit and Stop-loss orders are attached to the current market order, have equal volume and can exist only as long as the position remains open. You can modify or remove these orders at your convenience. When the market price of financial instrument reaches the level set in one of these orders, the correspondent order will be performed and position will be closed by the server.

The Take-profit order price must be higher then BUY price and lower then SELL price. Stop-loss order is a limit pending order.

The stop-loss order price is set lower then BUY price and higher then SELL price. Stop-loss is a pending stop order.

The orders (and Trailing Stop distance) cannot be set too close to the price of the market order and the market price (BID or ASK accordingly). The minimum possible range is determined by the server for each financial instrument. This range is usually equal to the spread.

The 'Deviation' mode is usually used in the conditions of drastically changing market or unstable Internet connection, when the user constantly receives the message of the server 'Price has changed'. In this case you can give the order to perform the deal by any price ('By any price' mode) or with an allowable deviation from the suggested price ('Deviation' mode).