Open Order
An order that will be executed when a market moves to its designated price, normally associated with good-til-cancelled orders.
Related terms
Good ’Til Cancelled Order (GTC)
An instruction to execute a trade at a set rate that remains active in the market until it is filled or the trader cancels it. Brokerages typically limit how long a GTC order can remain open, often to 90 days.
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Where a limit order has been requested but not yet filled.
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An instruction to transact on your behalf if a particular exchange rate or price is reached.
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Aggressive
A description of traders and/or price action acting with conviction.
Read full definitionArbitrage
The simultaneous buying and selling of the same currency in different markets to profit from small price differences. The strategy exploits temporary inefficiencies in FX markets.
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An instruction given to a dealer to buy or sell at the best rate that can be obtained at a specific time.
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An instruction given to a dealer to buy or sell at a specific price or better.
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A third party coordinating the sale of financial securities between sellers and buyers. Exchanges only accept orders from their members, so traders and investors use brokers as intermediaries; brokers are compensated through commissions, fees or payment from the exchange.
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Traders who expect prices to rise and who may be holding long positions.
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