Types of orders and terms of performance
There is a number of order types with a Trading System:
1) Market order.
Market order is a command to open a BUY or SELL trading position (BUY or SELL trade) at a current market price (Ask price to BUY or Bid price to SELL). The transaction is performed instantly via a Trading Platform installed on your PC at a price shown in the Make Deal window or at quotation anounced by a dealer via Telephone. In conditions of high volatility the opening of a trading position (trade) is carried out in two ways:
- Whilst opening a trading position, a client can be provided with a new market price, different than the originally anounced price.
- A client can tick “Any price” bow in the Make Deal window which would open a trading position at a current market price. Slippage size can be determined by a client.
Quations offered to a client via Trading Platform may differ from quotations offered via Telephone Dealing. All inquiries regarding the Telephone Dealing rates are competence of a dealer.
2) Pending order.
Pending order – is a command to open a BUY or SELL trading position (BUY or SELL trade) at a price that is different from the current market one. BUY or SELL positions are opened only when the market price market reaches a certain mark.
In conditions of high volatility and due to price gaps, especially after weekends and holidays or after the release of macroeconomic data, posted orders for position opening will be performed on the first price that appears on the market after the quotation breach.
Under certain market conditions, when fulfilling the order (Sell Limit, Buy Limit, Sell Stop, Buy Stop, Stop Loss and Take Profit) by the client's claimed price are not possible, the company has the right either to fulfill the order or to reconsider the opening (closing) price of the order by the current market price. Such situation is possible on abrupt price changes of the financial instrument during or on the opening of the trading session.
3) Linked limit and stop orders.
Orders connected with an opened position or posted order for opening a position, can be divided into two main categories: stop-loss and take-profit.
Stop-loss is used to prevent possible losses and it is set lower than the price at the time of placing the order or at execution of a posted order.
Take-profit is used only to close the position. When the price hits a targeted level of profit, the position will be closed. It is set at a price higher than it was at the time of opening of position or execution of a posted order.
In case of deleting a posted order, the manual closing of the position or due to abrasion of stop-loss/take-profit order, all the remaining connected orders will be deleted automatically.
Take-profit orders are executed based on the price declared by client.
4) OCO (one cancels other).
OCO orders – is a posted order to open a position at a price different from current market price. In case of abrasion of any order, the corresponding order will be deleted automatically.
For OCO orders, the rules of execution wil be the same as for simple posted orders.
5) Activated.
Activated order – is a pending order that is carried out if the price reaches the level of activation.
For execution of activated orders, the rules are the same as for simple posted orders. | 
