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Symbol Bid Ask Spread
EURUSD 1.19100 1.19124 2.4
GBPUSD 1.38299 1.38390 9.1
USDCAD 1.26518 1.26583 6.5
USDJPY 108.380 108.408 2.8
USDCHF 0.93071 0.93114 4.3
AUDUSD 0.76803 0.76833 3
NZDUSD 0.71605 0.71703 9.8
EURGBP 0.86087 0.86136 4.9
EURCHF 1.10857 1.10904 4.7
EURJPY 129.091 129.116 2.5
AUDJPY 83.250 83.282 3.2
GBPJPY 149.925 150.021 9.6
USDSGD 1.34210 1.34226 1.6
XAUUSD 1701.22 1701.49 27
XAGUSD 25.209 25.245 3.6

The above live prices are provided solely for informational purposes, not for trading purposes, and may be delayed.

Order Types

The term “order” refers to how you will enter or exit a trade. Here we discuss the different types of forex orders that can be placed into the forex market. Be sure that you know which types of orders your broker accepts. Different brokers accept different types of forex orders. There are some basic order types that all brokers provide and some others that sound weird.

Market order

A market order is an order to buy or sell at the best available price. For example, the bid price for EUR/USD is currently at 1.2140 and the ask price is at 1.2142. If you wanted to buy EUR/USD at market, then it would be sold to you at the ask price of 1.2142. You would click buy and your trading platform would instantly execute a buy order at that exact price.

Limit Entry Order

A limit entry is an order placed to either buy below the market or sell above the market at a certain price. For example, EUR/USD is currently trading at 1.2050. You want to go short if the price reaches 1.2070. You can either sit in front of your monitor and wait for it to hit 1.2070 (at which point you would click a sell market order). Or you can set a sell limit order at 1.2070 which in this case, If the price goes up to 1.2070, your trading platform will automatically execute a sell order at the best available price.You use this type of entry order when you believe price will reverse upon hitting the price you specified!

Stop Entry Order

A stop entry order is an order placed to buy above the market or sell below the market at a certain price. For example, EUR/USD is currently trading at 1.5050 and is heading upward. You believe that price will continue in this direction if it hits 1.5060. You use stop entry orders when you feel that price will move in one direction!

Stop Loss Order

A stop loss order is a type of order linked to a trade for the purpose of preventing additional losses if the price goes against you.

Take Note

  • If you are in a long position, it is a sell STOP order.
  • If you are in a short position, it is a buy STOP order.


A stop loss order remains in effect until the position is liquidated or you cancel the stop loss order. For example, you went long (buy) EUR/USD at 1.2230. To limit your maximum loss, you set a stop-loss order at 1.2200. This means if you were dead wrong and EUR/USD drops to 1.2200 instead of moving up, your trading platform would automatically execute a sell order at 1.2200 the best available price and close out your position for a 30-pip loss.

Trailing Stop

A trailing stop is a type of stop loss order attached to a trade that moves as price fluctuates. Let’s say that you’ve decided to short USD/JPY at 90.80, with a trailing stop of 20 pips. This means that originally, your stop loss is at 91.00. If the price goes down and hits 90.60, your trailing stop would move down to 90.80 (or breakeven). Just remember though, that your stop will STAY at this new price level. It will not widen if market goes higher against you. Going back with a trailing stop of 20 pips, if USD/JPY hits 90.40, then your stop would move to 90.60 (or lock in 20 pips profit). Your trade will remain open as long as price does not move against you by 20 pips. Once the market price hits your trailing stop price, a market order to close your position at the best available price will be sent and your position will be closed.


Once you have familiarised yourself with the information and concepts, you can open a Demo Trading Account to practice what you have learnt and build on your knowledge and understanding of how to trade successfully. Treat your demo account as you would your real account.