Montel Tradenode work together with Netfonds Bank who supports the following order types for private investors for stocks and derivatives:
Orders are valid for one day
Definition of Order Types
An order placed with a brokerage to buy or sell a set number of shares at a specified price or better. Limit orders also allow an investor to limit the length of time an order can be outstanding before being canceled.
Depending on the direction of the position, limit orders are sometimes referred to more specifically as a buy limit order, or a sell limit order.
Definition of Stop-Limit Order
An order placed with a broker that combines the features of stop order with those of a limit order. A stop-limit order will be executed at a specified price (or better) after a given stop price has been reached. Once the stop price is reached, the stop-limit order becomes a limit order to buy (or sell) at the limit price or better.
Definition of Market Order
An order that an investor makes through a broker or brokerage service to buy or sell an investment immediately at the best available current price. A market order is the default option and is likely to be executed because it does not contain restrictions on the buy/sell price or the time frame in which the order can be executed.
A market order is also sometimes referred to as an “unrestricted order.”
Definition of Stop Order
An order to buy or sell a security when its price surpasses a particular point, thus ensuring a greater probability of achieving a predetermined entry or exit price, limiting the investor’s loss or locking in his or her profit. Once the price surpasses the predefined entry/exit point, the stop order becomes a market order.
Also referred to as a “stop” and/or “stop-loss order”.
Definition of ‘Buy Stop Order’
An order to buy a security which is entered at a price above the current offering price. It is triggered when the market price touches or goes through the buy stop price.