Order types to verify before a live session

platformPublished 20 October 20261 min readmulti asset

Key points

• A market order seeks a fill. It does not name the price.
• A stop instruction can become a market order, and a gap can pass the stop price.
• Support for a named order type has to be read on the entity’s platform, not assumed from a brand.

What is going on

A market order is an instruction to trade at the prices then available. A limit order names the worst price the client will accept. A stop is a trigger. Some platforms convert that trigger into a market order. Some offer a stop-limit, which can fail to fill. Bracket or attached orders try to place a target and a protective order together. FINRA and SEC materials for retail investors describe these as different instructions, not as protection from loss.

Why it matters

A strategy that assumes a stop will fill at the stop price is assuming something the order type may not promise. A platform that shows the button still has to say whether the order is accepted outside the regular session, on that venue, and for that product.

What to watch

For each order you intend to use, read whether it can be rejected, partially filled, or converted. Read what happens if the connection drops after you send it.

Risks

Gaps, halts and thin books change fills. An order type available on a demonstration platform may be absent on the live entity. This note does not list which firms support which orders.