Order Types

Here you will find all the execution and leverage information you need regarding our trading platform. Through CIB MetaTrader 4 traders may send instructions for either instant orders or pending orders.

Instant Order(s)

Instant Order

This is an order to either buy or sell at the ‘ask’ or ‘bid’ price (respectively) as it appears in the quotes flow at the time the client presents the order for execution.

Pending Order(s)

Stop Orders

This is an order to buy or sell once the market reaches the ‘stop price’. Once the market reaches the ‘stop price’ the ‘stop order’ is triggered and treated as a ‘market order’*. If the ‘stop order’ is not triggered it shall remain in the system until a later date subject to the conditions described in the ‘Good till Cancel’ section. In terms of Contracts for Difference (‘CFDs’) on FX, spot metals and futures ‘stop orders’ should be placed a minimum number of pips away from the current market price.

Stop Loss
Limit Orders
Take Profit
*Market Order
Good till Cancel (‘GTC’) (= Expiry)
Pending Order Modification / Cancellation
Re-quoting

This is the practice of providing a secondary quote to the client after an ‘instant order’ has been submitted; the client must agree to this quote before the order is executed. CIB will re-quote ‘instant orders’ if the requested price originally specified by the client is not available. The secondary quote provided to the client is the next available price received by CIB from its third party liquidity providers. CIB does not re-quote ‘pending orders’

Slippage
Bid prices on charts
Trailing stops
EAs and HFT (high frequency trading):
Margin level required to open lock or hedge positions
Spread Variation

* Please note that this is not an exhaustive list.

Commission: in the context of MetaTrader4, the client shall be charged commission; further information is available online.