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Supported Order Types

WebTrader supports the following basic order types:

Order Type Steps

Limit

Select LMT from the Order Type drop-down in the Order Management Panelin the Order Management Panel, then enter a limit price.

Market

Select MKT from the Order Type drop-down in the Order Management Panel.

Stop

Select STP from the Order Type drop-down in the Order Management Panel, then enter a stop price.

Stop Limit

Select STP LMT from the Order Type drop-down in the Order Management Panel, then enter a limit price and a stop trigger price (in the Stop Price field).

Limit-on-Close

Select LOC from the Order Type drop-down in the Order Management Panel, then enter a limit price.

Market-on-Close

Select MOC from the Order Type drop-down in the Order Management Panel.

Trailing Stop

Select TRAIL from the Order Type drop-down in the Order Management Panel, then enter the stop price and trailing amount in the appropriate fields.

Trailing Stop Limit

Select TRAIL LIMIT from the Order Type drop-down in the Order Management Panel. Enter the limit price, stop price, trailing amount and limit offset amount in the appropriate fields.

 

 

In addition, you can set the Time in Force for any order to one of the following:

TIF Description Steps

Day

A Day order is canceled if it does not execute by the close of the trading day. Unless otherwise specified, every order is a Day order.

Select DAY from the TIF (Time-in-Force) drop-down in the Order Management Panel.

Good-til-Canceled

A Good-Til-Canceled order will continue to work within the system and in the marketplace until it executes or is canceled. GTC orders will be automatically be cancelled if a corporate action on a security results in an exchange or distribution of shares, or if you do not log in to your IB account for 90 days.

Select GTC from the TIF (Time-in-Force) drop-down in the Order Management Panel.

Immediate or Cancel

Any portion of an Immediate-or-Cancel order that is not filled as soon as it becomes available in the market will be canceled.

Select IOC from the TIF (Time-in-Force) drop-down in the Order Management Panel.

Market-on-Open

This is a market order that is automatically submitted at the market's open and fills at the market price.

Select OPG from the TIF (Time-in-Force) drop-down in the Order Management Panel and MKT as the Order Type.

Limit-on-Open

This is a limit order submitted at the market's open. The order must execute at the limit price or better.

Select OPG from the TIF (Time-in-Force) drop-down in the Order Management Panel and LMT as the Order Type.

 

You can also add the following order attributes to any order by clicking the green plus sign (+) on the left side of the Orders tab in the Order Management Panel, then selecting the appropriate check box in the popup window and closing the popup window.

Order Attribute Description Steps

Discretionary

A Discretionary order is a limit order with a defined amount off the limit price (for example $.05) which may be used to increase the price range over which the limit order is eligible to execute.

Click the green plus sign on the Orders tab, select the Discretionary check box in the popup window, close the popup window, then enter the discretionary amount in the Discr Amt field.

Attach Auto Trailing Stop

Attaches attach a trailing stop order to a limit order. The attached trailing stop order is automatically activated when the limit order is filled.

Click the green plus sign on the Orders tab, select the Attach Auto Trailing Stop check box in the popup window, close the popup window, then enter the trailing amount and other information about the attached order in the appropriate fields.

Attach Bracket Order

Turns an order into a Bracket order. Bracket orders are designed to limit your loss and lock in a profit by "bracketing" an order with two opposite-side orders. A buy order is bracketed by a high-side sell limit order and a low-side sell stop (or stop-limit) order. A sell order is bracketed by a high-side buy stop (or stop-limit) order and a low side buy limit order.

Click the green plus sign on the Orders tab, select the Attach Bracket Order check box in the popup window, close the popup window, then enter information about the orders in the appropriate fields.

Fill Outside Regular Trading Hours

Instructs the system to fill the order outside of regular trading hours.

Select the FORTH (Fill Outside Regular Trading Hours) check box. Display this check box by selecting Show Order Time Attributes from the drop-down in the right corner of the Orders tab in the Order Management Panel.

 

Click the Show Order Time Attributes option from the drop-down in the right corner of the Orders tab in the Order Management Panel to display Advanced Time In Force Attributes. Advanced Time in Force Attributes let you set the Time in Force to one of the following:

Attribute Description Steps

Good-after-Time/Date

An order that uses the good after time/date field is held in the IB system and submitted to the market on the date and time you specify.

Enable Advanced Time in Force attributes by clicking Show Order Time Attributes in the drop-down in the right corner of the Orders tab in the Order Management Panel, then create an order. Select GAT in the TIF field, then enter start and end times and dates in the Start Time and End Time fields. Use the Calendar icon to quickly select a time and date.

Good-til-Date

Lets you select an expiration date and time up until which an order will continue to work. Note that if you only enter a good-till date, the unfilled order will cancel at the close of the market on the specified day.

Enable Advanced Time in Force attributes by clicking Show Order Time Attributes in the drop-down in the right corner of the Orders tab in the Order Management Panel, then create an order. Select GTD in the TIF field, then enter start and end times and dates in the Start Time and End Time fields. Use the Calendar icon to quickly select a time and date.