With market orders you can benefit from future currency movements as and when they happen.
How do market orders work?
Generally speaking, they are instructions placed to buy or sell a currency when it hits a specified rate during a set period of time. It allows you to secure an improved exchange rate when the markets move in your favour or stop out a position to limit your downside risk when the markets move against you.
Market orders work for both spot transactions and forward contracts.
Why place a market order?
Take advantage of and protect your funds against currency fluctuations
Execute transactions 24/7, across all trading sessions, giving you complete market coverage
No need for you to observe every move in the markets
What does Tait Offer?
Our finance specialists will help you determine the best parameters for your market order. You can choose a:
Limit market order: We also call this ‘best-case rate’ limit. So if the currency rate hits this limit during the agreed time frame we’ll execute the order on your behalf.
Stop loss order: Also referred to as the ‘worst-case rate’ that you’re willing to accept. If the market moves against you during the agreed time frame we’ll execute the order on your behalf to cut your losses.
One cancels other: Define a limit market order and stop loss order at the same time. If one is executed the other is automatically cancelled.
How do I place a market order?
When you place a market order you need to specify the target exchange rate and the time frame in which the order can be executed. It doesn’t cost anything to place a market order with us and you can cancel or alter it at any time, up to the point of execution.
Once placed, you’ll receive a confirmation email with details of the order. And when executed, you’ll automatically receive an email with the transaction receipt.
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