Supported Order Types
Folionet supports market orders, limit orders, stop orders, and stop limit orders.
A market order is an order to trade a stock at the current market price. It does not contain restrictions on the price or the time frame in which the order can be executed.
A limit order is an order to either buy or sell a stock at a designated price or better. A buy limit order can only be executed at the limit price or lower, and a sell limit order can only be executed at the limit price or higher. A limit order is not guaranteed to execute.
A stop order is an order to buy or sell only after a designated price level (the stop level) has been reached. If a stock moves down and a designated price is reached, stop orders help to minimize losses by closing the position at the market price. Even though stop orders are commonly used when selling securities, stop orders can be used to buy stocks. Buy stop orders are used to purchase stocks above a designated price where the investor thinks the stock price will rise.
Stop Limit Order:
A stop-limit order is an order to buy or sell a stock at a designated limit price, once the security has traded through a designated stop price. This type of order has two components: the stop price and the limit price, usually the stop price is set above the limit price, in order to increase the chances of execution.
How to select different order types?