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Market Order vs Current or Better order

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Hello, what is a Current or better order?  I understand the Market order and assume the Current or Better would buy at the current or a lower (better) price?  New to FX

Thanks,

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@Chuckfk,

I don't trade FX myself but my understanding is that a market order would to be to buy at the best available price. 

You also have a limit entry order which is either buy above the market price or sell above the market price. There is also a stop entry order where you would buy above the market price or sell below the market price. I assume you are familiar with stop loss orders?

Have a look at the below which you may find helpful.

Stop vs limit orders: what are the types of orders in trading?

https://www.ig.com/uk/trading-strategies/stop-vs-limit-orders-what-are-the-types-of-orders-in-trading-190509

I think your assumption seems correct about the current or better order and it is just a different way to articulate it. Maybe someone who trades FX can just 100% confirm this. 

 

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10 hours ago, Chuckfk said:

Hello, what is a Current or better order?  I understand the Market order and assume the Current or Better would buy at the current or a lower (better) price?  New to FX

Thanks,

Hi, in addition to the above what they are really talking about is at times of higher than normal volatility there may be slippage. It used to be that disreputable brokers would happily pass on slippage if it worked against the client but slippage can work either way and they would pocket any gain if it worked in your favour. What IG are pointing out is that they will pass the not only any loss but also any gain if actual price is better than the current price when you hit the buy or sell.

Edited by Caseynotes

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