When trading US stocks, investors can choose from different order types depending on their trading strategy, price expectations, and risk tolerance. Below is an overview of the main order types supported.

Limit Orders

A limit order specifies the maximum price you are willing to pay when buying, or the minimum price you are willing to accept when selling. Orders are only executed when the market reaches the specified price or better.

  • Example: A buy limit order at $50 will execute at $50 or lower. A sell limit order at $50 will execute at $50 or higher.

  • Trading hours:

    • Regular trading hours: 9:30 am – 16:00 pm (ET)

    • Pre-market session: 4:00 am – 9:30 am (ET)

    • Post-market session: 16:00 pm - 20:00 pm (ET)

    • Overnight session: 20:00 pm - 4:00 am next day (ET)

  • Order validity: Day / Good-’Til-Canceled (GTC) / Good-’Til-Date (GTD)

Market Orders

A market order prioritizes execution speed over price. The order is filled at the best available market price at the time of execution.

  • Key note: Because of lower liquidity and wider spreads during pre-market and after-hours sessions, market orders are only available during regular trading hours (9:30 am – 4:00 pm ET).

  • Order validity: Day

Stop Orders (Buy Stop / Sell Stop)

A stop order becomes a market order once the stop (trigger) price is reached.

  • Buy Stop: Placed above the current market price, used to enter a position if the price rises.

  • Sell Stop: Placed below the current market price, used to limit losses or protect profits.

  • Order validity: Day / GTC / GTD

Stop-Limit Orders

A stop-limit order combines a stop order and a limit order. Once the stop price is triggered, the order becomes a limit order (not a market order). Execution only occurs at the limit price or better.

  • Benefit: More control over execution price.

  • Risk: Execution is not guaranteed if the market moves past your limit.

  • Order validity: Day / GTC / GTD

Quick Reference – Order Validities

  • Day Order: Expires at the end of the trading day if not filled.

  • Good-’Til-Canceled (GTC): Remains active until executed or canceled, up to 90 days.

  • Good-‘Til-Date (GTD): Remains active until executed, canceled, or the date you specify — whichever comes first.