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A working order is a type of trade order placed with a broker that remains active until the specific price or condition set by the trader is met. Working orders are commonly used by traders who want to execute a trade at a desired price rather than the current market price. Types of working orders include limit orders, stop orders, and stop-limit orders, which allow traders to control when and how their trades are executed based on price movements.
A trader places a working limit order to buy 100 shares of a stock at $50, meaning the trade will only execute if the stock price falls to or below $50.
• A trade order that remains active until the specified price or condition is met.
• Includes order types like limit orders, stop orders, and stop-limit orders.
• Allows traders to control trade execution based on specific price levels or market conditions.
It allows traders to specify a desired price or condition for executing a trade, giving them control over the timing and price of the transaction.
A working order remains active until a specified price is met, while a market order is executed immediately at the current market price.
Common types include limit orders, stop orders, and stop-limit orders, each of which allows traders to set specific price levels for execution.
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