MARKET ORDER AND INSTANT EXECUTION
Instant Order
An Instant Order is a transaction request to purchase or sell at the current ‘ask’ or ‘bid’ price as displayed in the quote stream when a member requests execution. The potential outcomes of an Instant Order include:
- Order Execution
- Price Requote
- Order Rejection
Market Order
A Market Order is a transaction instruction to buy or sell at the current market ‘ask’ or ‘bid’ price as displayed in the quote stream when a member requests execution. The possible results of a Market Order are:
- Order Execution
- Order Rejection
For additional details, refer to the product specifications in the MT4 trading platform.
PENDING ORDER
Stop Order
A Stop Order is a transaction directive to buy or sell when the market reaches a predetermined ‘stop price’. Upon reaching the specified price, the stop order is activated and processed as a market order. For Contracts for Difference (CFD) on foreign exchange, spot metals, and futures, the stop order must be placed at a minimum of the current market price.
Stop Loss
Designed to minimize potential losses, a Stop Loss order is triggered when the market reaches a specified ‘stop loss’ price. Once activated, it is processed as a market order. In CFDs for foreign exchange, spot metals, and futures, the stop loss must be set at a minimum of the current market prices.
Limit Orders
A Limit Order is a transaction instruction to buy or sell when the market reaches a specific ‘limit price’. Upon reaching the limit price, the order is executed at that price or more favorably. For CFDs on foreign exchange, spot metals, and futures, limit orders should be placed at a minimum of the current market prices.
Take Profit
A Take Profit order is designed to secure trading gains. When the market reaches the specified ‘take profit’ price, the order is activated and processed as a limit order. In CFDs for foreign exchange, spot metals, and futures, the take profit should be set at a minimum of the current market price.
ORDER PENDING EXECUTION
Stop Order Pending
Pending Stop Orders are not intended to open new positions. The Stop Pending Order installation is exclusively valid for hedging purposes.
Stop Loss + Out
In scenarios where slippage conditions result in Forced Liquidation (Stop Out), all open positions with Stop or Stop Loss Orders will be executed at the Forced Liquidation price. Under these circumstances, previously placed Stop Loss or Stop Orders become invalid.
PENDING CONFIRMATION ORDER
- During Normal Market Conditions: A Pending Confirmation Order is considered “DONE” if the asked/placed price matches the price displayed on the BullishFX Trader4 screen.
- High and Low Scenarios:
- High and Low prices in the BullishFX Trader4 system determine order confirmations
- Sell Limit Order Confirmation is based on BID
- Buy Limit Order Confirmation is based on BID + Spread
- During Volatile Market Conditions: Spreads are unrestricted, rendering the above rules (points a and b) inapplicable.
SLIPPAGE
Slippage occurs under specific market conditions involving significant price jumps for pending orders (buy stop/sell stop/buy limit/sell limit/take profit/stop loss), which are confirmed/executed following price fluctuations.
If a pending stop order includes a Take Profit (TP) and the price jumps or exceeds the TP level, the system automatically cancels the pending stop order.
