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!
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?
|All or None||Time to Market|
|Arrival Price||Algorithmic Trading|
|At Auction||Speed of Execution|
|Balance Impact and Risk||Algorithmic Trading|
|Box Top||Price Improvement|
|Dark Ice||Algorithmic Trading|
|Discretionary||Speed of Execution|
|Fill or Kill||Time to Market|
|Good After Time/Date (GAT)||Time to Market|
|Good-til-Canceled (GTC)||Time to Market|
|Good-til-Date/Time (GTD)||Time to Market|
|Immediate or Cancel (IOC)||Time to Market|
|Limit if Touched||Price Improvement|
|Market if Touched||Speed of Execution|
|Market on Close||Speed of Execution|
|Market on Open||Speed of Execution|
|Market to Limit||Limit Risk|
|Market with Protection||Limit Risk|
|Market||Speed of Execution|
|Midpoint Match (MPM)||Speed of Execution|
|Minimize Impact||Algorithmic Trading|
|NYSE Closing Auction D-Quote||Price Improvement|
|One-Cancels-All (OCA)||Advanced Trading|
|Passive Relative||Price Improvement|
|Pegged-to-Market||Speed of Execution|
|Pegged-to-Stock||Speed of Execution|
|Percent of Volume||Algorithmic Trading|
|Relative/Pegged-to-Primary||Speed of Execution|
|Request-for-Quote (RFQ)||Limit Risk|
|Retail Price Improvement (RPI)||Price Improvement|
|Stop - Adjustable||Limit Risk|
|Stop - Trailing Stop Limit||Limit Risk|
|Stop - Trailing Stop||Limit Risk|
|Stop Limit||Limit Risk|
|Stop with Protection||Limit Risk|
|Sweep-to-Fill||Speed of Execution|
|Trailing Limit if Touched||Limit Risk|
|Trailing Market if Touched||Limit Risk|
|VWAP - Best Efforts||Algorithmic Trading|
|VWAP - Guaranteed||Privacy|
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.