What is an order?
An order is an instruction a trader gives to a broker to buy or sell an asset.
As soon as you click on ‘Open Trade’ or ‘Set Order’, an order to execute a trade is created. We will then do our best to fulfil your order. During market hours, this is usually instant.
After an order is created, it can be found in the Orders tab in your Portfolio until it is executed.
A market order is an order to buy or sell an asset at the best available price. eToro accepts market orders, whether the market you wish to invest in is open or closed.
If the market is open, we will quickly execute your order at the best available market price. You will see your order has been fulfilled once we have settled your trade - normally in a few seconds.
If the market is closed, we will execute your trade the next time the market opens at the best price available at that time. This is called an after hours order. For less common stocks, you may only be able enter orders during market hours.
Unlike a market order, a limit order is an order to execute at a given rate. At eToro, you can set the rate (price) at which you wish to buy or sell an asset to take advantage of price swings in the market.
The order is triggered once the market rate reaches the amount you specified in your order. At that point, eToro executes the order in the market. The execution price may differ slightly from the price specified on the order.
You can cancel a pending limit order at any time.