Order Types & Execution

A market order executes instantly at the best available price. A market buy matches the lowest ask; a market sell matches the highest bid.

Risk: In volatile or illiquid markets, fills can be significantly worse than the last traded price (LTP) on your screen.

You specify the maximum buy price or minimum sell price. Buy limits execute at or below your price; sell limits at or above.

Trade-off: price control is guaranteed; execution is not. Unfilled orders rest in the book until matched or end of day.

Dormant until the trigger price is hit, then activates as market or limit:

• SL-M: Becomes a market order — guaranteed exit, slippage possible.
• SL-L: Becomes a limit order — protects from slippage but may not fill on fast gaps.