Market Range vs At Best Orders

Market Range Vs. At Best OrdersMost forex traders, including Lucror FX, offer two types of forex orders: At Best and Market Range. Depending on your style of trading, what currency pair you’re trading, when you’re making your order and how much you’re buying or selling, you may want to use one or the other. In any case, as a forex trader, you should know about your two options and the pros and cons of each.

At Best Orders: Trade Quickly and Consistently
When you make an At Best order, your order will be filled no matter how quickly the market is moving. For instance, if you buy low and the market shoots up past your initial selling point, an At Best order will ensure that your trade goes through at the higher level and help you reap the benefits of a volatile market. This is good for volatile currency pairs and high-volume trading.

With an At Best order, you will never again receive messages like “price has expired” or “market has moved.” Instead, your order will be filled at the best available rates plus a markup from Lucror FX depending on your account type. The upside to an At Best order is that it ensures that your trades will always go through. However, it may not be as reliable as you like. For people who like knowing exactly how much they’ll make from a trade, an At Best order may not be right.

For individuals who trade the news and pay close attention to when stories break first, At Best orders are great ways to reap the maximum benefits and ensure that none of your orders are prevented. Once the world sinks its teeth into a financial news story, a forex pair may rise or fall beyond the range you initially placed. At Best orders help you stay in the game even when your trades fall outside your pre-determined market range.

Ultimately, the advantage you get from At Best orders is execution certainty. If you don’t want great trades to be prevented by mechanical technicalities and if you’re willing to sacrifice price certainty for the hopes of greater profits, At Best orders are your way to go.

Market Range Orders
Market Range orders are generally a more conservative way to trade forex. You enter in a range for when to buy or sell a currency, and if the currency spikes outside that due to volatility, your trade simply won’t go through. Market range trading is good for a more cautious investor who likes to know exactly how much money he is making. If you’re looking for a particular price for a currency pair on the market and it is unavailable, Lucror will cancel your market range trade. You can wait for another time for your desired market price.

Ultimately, market range orders are for people who are less concerned with whether or not a particular trade goes through. They are good for low-volatility trades, well-established currency pairs and slow markets. Ideal for traders who prefer price certainty over execution certainty, market range orders are an important, if less glamorous way to trade forex.

Are you interested in trading on the foreign exchange? Whether you prefer market range or at best orders, Lucror FX can help you start making money with forex trading. For more information, contact Lucror FX today or OPEN A FREE FOREX DEMO ACCOUNT today!

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