We want to clarify that IG International does not have an official Line account at this time. We have not established any official presence on Line messaging platform. Therefore, any accounts claiming to represent IG International on Line are unauthorized and should be considered as fake.
CFDs are complex instruments. 70% of retail client accounts lose money when trading CFDs, with this investment provider. You can lose your money rapidly due to leverage. Please ensure you understand how this product works and whether you can afford to take the high risk of losing money. CFDs are complex instruments. 70% of retail client accounts lose money when trading CFDs, with this investment provider. You can lose your money rapidly due to leverage. Please ensure you understand how this product works and whether you can afford to take the high risk of losing money.
Related search: Market Data
| Market Data | Type of market |
|---|
What is a day order?
A day order is defined as an instruction from a trader to their broker, to buy or sell a certain asset. Setting a day order means that the deal has to be executed if an asset hits a specified price (referred to as the level) at any point during the trading day on which the order is made.
The day order will expire if the price specified in the order is not met by the time the market closes. There are two different types of day order: stop day orders and limit day orders. If the price at which the trade will be executed is more favourable than the current market price then it is a limit day order, and if it is less favourable it is a stop day order. The meaning of day orders differ from good-‘til-cancelled (GTC) orders, or orders that specify a longer or shorter time period for execution.
Most brokers and trading platforms tend to use day orders as the default means of trading, meaning that a trade will expire if unexecuted after a day unless a different time frame is specified. For example, with IG, you can place a day order by going to the ‘Order’ tab and selecting today’s date under ‘Expiry’.
Discover our online trading platform
Our best execution helps you to open, close and edit positions faster than ever before.
Pros and cons of day orders
Pros of day orders
Day orders are popular among traders because they mean there is no need to constantly monitor the markets, waiting for the order level to be reached. They are useful for intraday traders who will have multiple asset classes to monitor, enabling the individual orders to be executed automatically throughout the day, while still adhering to their strategy.
Cons of day orders
However, it is still important to remain up to date with breaking events that can have negative effects on the market. You don’t want to get stuck in an undesirable position if you have not cancelled your day order before it is executed.
Example of day order
Let’s say you want to buy 1000 shares of company XYZ. They are currently trading at £5.50, but you expect the price to fall before it continues its upward momentum. Because you do not have the time to monitor the markets waiting for this advantageous dip in prices, you decide to put in a limit day order.
You place an order to buy 1000 shares at £5. If the market falls to £5, your day order is executed and you now have a long position ready for the market to rebound. But if the market does not fall to £5 in the day, your order will not be executed and it will expire.
Build your trading knowledge
Discover how to trade with IG Academy, our series of interactive
courses, webinars and seminars.
Contact us
Questions about opening an account: +44 (20) 7633 5430 or email: sales.en@ig.com
Existing client questions:
+44 (20) 7633 5431 or email: helpdesk.en@ig.com
We’re here 24 hours a day, except from 6am to 4pm on Saturday (UTC+8).
IG | Terms and agreements | Privacy | How to fund | Vulnerability | Cookies | About IG
^IG International Limited is part of the IG Group and its ultimate parent company is IG Group Holdings Plc. IG Group established in London in 1974, and is a constituent of the FTSE 250 index.
The risks of loss from investing in CFDs can be substantial and the value of your investments may fluctuate. 70% of retail client accounts lose money when trading CFDs, with this investment provider. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how this product works, and whether you can afford to take the high risk of losing your money.
CFD Accounts provided by IG International Limited. IG International Limited is licensed to conduct investment business and digital asset business by the Bermuda Monetary Authority.
IG provides an execution-only service. The information in this site does not contain (and should not be construed as containing) investment advice or an investment recommendation, or an offer of or solicitation for transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result.
The information on this site is not directed at residents of the United States and is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
IG International Limited is part of the IG Group and its ultimate parent company is IG Group Holdings Plc. IG International Limited receives services from other members of the IG Group including IG Markets Limited.
