Types of Orders
Are orders that we are required to execute fully and promptly without regard to price. While a customer may receive prompt execution of a market order, the execution may be at a price significantly different from the current quoted price of that security.
Are orders that will be executed only at a specified price or better and that, while the customer receives price protection, there is a possibility that the order will not be executed.
Are orders that are used to trigger a market order at or around the entered stop price.
Virtual Trailing Stop Order
A virtual trailing stop order (VTSO) is a stop order that adjusts as the price of a security moves. The stop price is placed at a set distance then adjusts as the price of the security moves, maintaining the set distance. The purpose of this order is to maintain a set level of potential loss at any point in time while allowing for continued appreciation as long as the price does not fall to the stop loss.
Types of Markets
Initial Public Offering (IPO)
These stock offerings can be volatile in price, and should be fully researched, and the prospectus read before entering into a subscription agreement. Securities trading in the secondary market may trade at a higher price than their offering price.
Fast Market Conditions
This is a condition where the price of a security changes so quickly that quotes for the stock do not keep pace with the trading price of the stock. In this situation, the market price at the time the customer enters an order may be significantly different.