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What is a stop order and how does it work?

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A Stop Order is a type of Pending Order to buy or sell once a pre-defined price is reached. When the price is reached, the stop order becomes a market order and is executed at the best available price. 

There are many types of Stop Orders:

• Buy Stop: to buy at a price higher than the current ask price.
• Sell Stop: to sell at a price lower than the current bid price.
• Stop Loss: to close an order if the market price reaches a specified price, which may represent a loss or profit. The purpose of using a Stop Loss order is to prevent additional losses if the price goes against you.

If you need to edit your Stop Orders, including Stop Loss, simply double-click the order in the Trade tab to open up customization options.

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