- There are two transaction types; instant execution and pending orders.
- Whereas instant execution opens a transaction at the price currently quoted on the market, pending orders allow you to set orders that will be activated once the price reaches a level chosen by you.
There are four types of pending orders that you can utilise at XTB, and they include:
1. Buy Stop
The Buy Stop order allows you to set a buy order above the current market price. What this means is that if the current market price is $20 and the set Buy Stop price is $22, then once the market reaches the price level of $22, a buy transaction will be executed on this market.
2. Sell Stop
The Sell Stop order allows you to set a sell order below the current market price. What this means is that if the current market price is $20 and the set Sell Stop price is $18, then once the market reaches the price level of $18, a sell transaction will be executed on this market.
3. Buy Limit
The Buy Limit order allows you to set a buy order below the current market price. What this means is that if the current market price is $20 and the set Buy Limit price is $18, then once the market reaches the price level of $18, a buy transaction will be executed on this market.
4. Sell Limit
The Sell Limit order allows you to set a sell order above the current market price. What this means is that if the current market price is $20 and the set Sell Limit price is $22, then once the market reaches the price level of $22, a sell transaction will be executed on this market.
5. How to place pending orders on xStation
The easiest way to set pending orders is directly from the chart and this is possible on the xStation trading platform. You can learn more about how to place pending orders on xStation in our Trading Academy.
