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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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Find out how Place Trade can help you get the most out of your college planning by visiting some of the links below:


Coverdell ESA

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UGMA/UTMA Accounts

 

 

 

All investing involves risk, including the possible loss of principal and there can be no assurance that any investment strategy will be successful.