There are a variety of order types that can be used to execute trades. Are there support or not the following orders are depending the Brokers. So not all Forex Brokers supporting the following type of orders.

1. GTC (Good Till Cancelled) Orders
When placing an order, you must specify for how long the orders is to be valid. The GTC Order is very common type of order. It’s remain valid until you cancel it.

2. Market order
An order to buy or sell a specific currency, to be filled immediately at the next quoted exchange rate. This is the most common of all order types. Be careful, as you may not receive the most advantageous price in a fast–moving market.

3. Limit order
Specifies that a trade must be executed at a specific price. Limit orders are placed to enter the market or to protect profits. Because limit orders are not executed unless they reach the specified price.

4. Stop order
An order used to close out a market position (a currently open trade), reverse a position, or open a new position at a specified price. They are typically placed to limit losses, closing a position if a price drops or rises beyond the specified point.

5. Trailing stop order
A type of stop loss order that is set to follow price movements by specifying the distance in pips that you would like your stop to move, depending on the market direction and type of stop order placed.

6. OCO (Order cancels order)
After entry into the market, a limit for profit order and a protective stop–loss order can be placed. When either the limit or the stop order is executed, it will automatically cancel the other order. This allows traders to automatically execute specific trading strategies to limit losses and protect profits without having to constantly watch the market.

7. Parent and contingent order
Two separate orders that are linked by an if/then condition. The contingent order will not be subject to a fill until the parent is filled. This allows traders to set up the entire trade while they are away from their trading desk, including entry, exit and risk management, based on specific market prices.

8. Day Orders
Day Orders are good until 23:00 CET time.

Financial Spread Betting

Limit your risk spread betting by utilizing a stop loss order. Spread betting allows one to make money even in an uncertain financial market, and even if the value of stock declines. Pick an asset, decide if it will rise or fall in value, stake and amount per point, choose wisely, and profit.