An order is a set of instructions sent by a trader to a broker. An order will tell the broker how much of what currency pair a trader wishes to buy or sell, as well as any special conditions related to the execution of the order.
Whether you are using a phone or a trading terminal, every trade begins and ends with an order. The most basic type of order is a market order that is executed as soon as it is received and at the best price available. Conditional orders sit at the other end of the spectrum with special instructions around price, timing and execution attached to them. Forex traders should be aware of the different order types and find those that fit their trading strategy.
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