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 Learn how to place a trade, place trades, place trade orders and enter orders with over 50 different types of orders!

 

 

Place Trader Workstation supports over 60 Order Types and Algos!

 

 

Simplify the trading process! Advanced trading functions may help to limit risk, speed execution, provide price improvement, allow privacy and time the market!

 

Order Types

Algos

TWS offers over 50 different order types, comprising basic and advanced orders, algos, attributes and times in force.

 

 
 
Take the interactive Order Types Tour to learn more!

 Algos helps to balance market impact with risk to get the best price for large volume orders. Our growing family of algos includes the following:

   

Take the interactive Algos Tour to learn more!

 

 

What Types of Orders and Algos are available when I place a trade? 

 
 
Order Type Category STK OPT FUT FOP FX BND FND WAR EFPs CMB CFDs
                         
                         
Order Type Category STK OPT FUT FOP FX BND FND WAR EFPs CMB CFDs
Accumulate/Distribute Algorithmic Trading Yes Yes Yes Yes Yes Yes No Yes No No No
All or None Time to Market Yes Yes No No No No No No Yes No No
Arrival Price Algorithmic Trading Yes No No No Yes No No No No No No
At Auction Speed of Execution Yes No Yes No No No No No No No No
Auction Price Improvement No Yes No No No No No No No No No
Balance Impact and Risk Algorithmic Trading No Yes No No No No No No No No No
Basket Advanced Trading Yes Yes Yes Yes Yes Yes Yes Yes No No No
Block Price Improvement No Yes No No No No No No No No No
Box Top Price Improvement No Yes No No No No No No No No No
Bracket Limit Risk Yes Yes Yes Yes No No No Yes No No No
Conditional Advanced Trading Yes Yes Yes Yes Yes No No Yes No No No
Dark Ice Algorithmic Trading Yes No Yes No No No No No No No No
Discretionary Speed of Execution Yes No No No No No No No No No No
Fill or Kill Time to Market Yes Yes No No No No No No No No No
Good After Time/Date (GAT) Time to Market Yes Yes Yes Yes Yes Yes No Yes No No No
Good-til-Canceled (GTC) Time to Market Yes Yes Yes Yes Yes Yes No Yes Yes No No
Good-til-Date/Time (GTD) Time to Market Yes Yes Yes Yes Yes Yes No Yes Yes No No
Hidden Privacy Yes Yes Yes Yes No Yes No No Yes No No
IBDARK Privacy Yes No No No No No No No No No No
Iceberg/Reserve Privacy Yes Yes Yes No No No No Yes No No No
Immediate or Cancel (IOC) Time to Market Yes Yes Yes Yes Yes No No Yes Yes No No
Limit if Touched Price Improvement Yes Yes Yes Yes Yes Yes No Yes Yes No Yes
Limit-on-Close Price Improvement Yes No Yes No No No No Yes No No No
Limit-on-Open Price Improvement Yes No No No No No No Yes No No No
Limit Price Improvement Yes Yes Yes Yes Yes Yes No Yes Yes No Yes
Market if Touched Speed of Execution Yes Yes Yes Yes Yes Yes No Yes Yes No Yes
Market on Close Speed of Execution Yes No Yes No No No No Yes No No No
Market on Open Speed of Execution Yes No No No No No No Yes No No No
Market to Limit Limit Risk Yes Yes Yes Yes No No No Yes Yes No Yes
Market with Protection Limit Risk No No Yes Yes No No No No No No No
Market Speed of Execution Yes Yes Yes Yes Yes Yes Yes Yes Yes No Yes
Midpoint Match (MPM) Speed of Execution Yes No No No No No No No No No No
Minimize Impact Algorithmic Trading No Yes No No No No No No No No No
NYSE Closing Auction D-Quote Price Improvement Yes No No No No No No No No No No
One-Cancels-All (OCA) Advanced Trading Yes Yes Yes Yes Yes Yes No Yes Yes No No
Passive Relative Price Improvement Yes No No No No No No Yes No No No
Pegged-to-Market Speed of Execution Yes No No No No No No No No No No
Pegged-to-Midpoint Price Improvement Yes No No No No No No No No No No
Pegged-to-Stock Speed of Execution No Yes No No No No No No No No No
Percent of Volume Algorithmic Trading Yes No Yes No No No No No No No No
Relative/Pegged-to-Primary Speed of Execution Yes Yes No No No No No No No No No
Request-for-Quote (RFQ) Limit Risk No Yes Yes Yes No Yes No No No No No
Retail Price Improvement (RPI) Price Improvement No Yes Yes Yes No Yes No No No No No
Scale Algorithmic Trading Yes Yes Yes Yes Yes Yes No Yes No No No
Spreads Advanced Trading Yes Yes Yes No No No No No No No No
Stop - Adjustable Limit Risk Yes Yes Yes Yes Yes No No Yes Yes No No
Stop - Trailing Stop Limit Limit Risk Yes Yes Yes Yes Yes Yes No Yes Yes No Yes
Stop - Trailing Stop Limit Risk Yes Yes Yes Yes Yes No No Yes Yes No Yes
Stop Limit Limit Risk Yes Yes Yes Yes Yes No No Yes Yes No Yes
Stop with Protection Limit Risk No No Yes No No No No No No No No
Stop Limit Risk Yes Yes Yes Yes Yes No No Yes Yes Yes Yes
Sweep-to-Fill Speed of Execution Yes No No No No No No Yes No No No
Trailing Limit if Touched Limit Risk Yes Yes Yes Yes Yes No Yes Yes Yes No Yes
Trailing Market if Touched Limit Risk Yes Yes Yes Yes Yes No Yes Yes Yes No Yes
TWAP Algorithmic Trading Yes Yes Yes No Yes No No No No No No
Volatility Advanced Trading No Yes No Yes No No No No No Yes No
VWAP - Best Efforts Algorithmic Trading Yes No Yes No No No No No No No No
VWAP - Guaranteed Privacy Yes No No No No No No No No No No
 
 
 
 
 
 
 

Important Information about Simulated Order Types

 

Place Trade simulates certain order types (for example, stop or conditional orders). Where Place Trade simulates an order type, Place Trade's SmartRouting system will manage the order to try to achieve the same outcome as an order type offered "natively" by an exchange. Simulated order types may be used in cases where an exchange does not offer an order type or in cases where Place Trade does not offer a certain order type offered natively by an exchange. While simulated orders offer substantial control opportunities, they may be subject to problems relating to performance of third parties outside of Place Trade control, such as market data providers and exchanges.

 

Although we attempt to filter external data to ensure the best possible execution quality, Place Trade cannot anticipate all of the reasons that a simulated order may not receive an execution, or may receive an erroneous execution. Unsatisfactory (non)executions may result from events, including [i] erroneous, missing or inconsistent market data; [ii] Place Trade data filters (example: we may ignore last sale data that is reported outside the prevailing bid-ask as it often represents untimely or erroneous transactions; this may impact triggering of simulated orders); [iii] transactions subsequently deemed erroneous by an exchange; [iv] market halts and interruptions.

 

Clients should understand the sensitivity of simulated orders and consider this in their trading decisions.

Please Note:  Any trading symbols displayed are for illustrative purposes only and are not intended to portray a recommendation.

 

 

Please keep in mind that in addition to our online trading platforms that allow independent investors to operate freely; experienced investment professionals are available to help guide and execute your investing decisions through our full service investment program.  Whether you choose to work with a full service financial representative or make all of your own investment decisions while trading online you will save more money when you switch your brokerage account to Place Trade!  

Enjoy some of the lowest full service commissions and margin rates of any national full service brokerage firm and learn why more investors are switching to Place Trade ~ the smart place to invest!  Call 1-800-50-PLACE or 1-919-719-7200 today to get started.

 

 

More than 50 Ways to Place a Trade!

 

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