# Types of Order on Derivatives

Currently, FIXT Derivatives supports 4 types of order:

1. Limit Order
2. Market Order
3. Trigger Order
4. TP/SL Order (Strategy Order)

<details>

<summary>Limit Order</summary>

What is a limit order?

Limit orders allow you to place an order at a certain price or a better price. If the price is equal to or lower than the limit price, a buy limit order will be executed, and a sell limit order will be executed if the price is above the limit price. Limit orders are not guaranteed to be executed.

</details>

<details>

<summary>Market Order</summary>

What is a market order?

Market orders are filled immediately at the best price at a given time.

</details>

<details>

<summary>Trigger Order</summary>

What is a trigger order?

Trigger orders are an algorithmic trading strategy that allows you to set predefined trigger prices and order prices. When the market price reaches the trigger price, an order is automatically placed at the preset order price. This strategy allows you to limit risk and lock in profits by engaging in or exiting momentum trades. The only difference between trigger orders and stop orders is that trigger orders do not freeze margins or positions.

</details>

<details>

<summary>TP / SL Order (Strategy Order)</summary>

What is a TP/SL limit order?

You can set a take profit or stop loss price before opening a position. It follows the “market price” to execute take profit and stop loss orders.

If market volatility is high, orders may be executed at a location different from the specified trigger price.

</details>


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