Forex Order Types Explained: Market, Limit, Stop, and Stop-Limit Orders
Forex order types decide how and when a trade is executed. A market order fills straight away at the next available price. A limit order waits for a better price, a stop order triggers once price reaches a less favourable level, and a stop-limit order combines both. Each type trades certainty of execution against certainty of price, and none removes the risk of slippage or gaps.