A Stop Order is an instruction to place an Order to buy or sell a specified quantity of an Asset but only if and when the last trade price on the Order Book is equal or is lower than the Stop Price (in the case of an Order to sell).
When a Stop Order is placed, it will be considered ‘active’ until the Stop Order executes by placing the relevant Order when the Stop Price is triggered.
A Stop Order is not placed on the Order Book and is not visible to other Customers, but any resulting Order is placed and visible.
A Stop Order must be placed as a Stop Limit Order which places a Limit Order when the Stop Price is triggered.
A Stop Limit Order is not guaranteed to Fill.
Stop Orders may be placed with one of the following Time in Force Instructions.
Good Till Cancelled (GTC): The Order will stay on the Order Book until it is completely Filled or until manually cancelled by the Customer.
Good Till Date/Time (GTD/T): The Order will stay on the Order Book until a certain date or time is reached or until manually cancelled by the Customer.