| Market Order | A market order guarantees a fill or execution, but unlike a limit order, a market order provides no price protection. The price at which you actually execute (or fill) the trade can deviate from the last traded price, ending up with a price higher or lower than the market value you have previously seen due to the high volatility of the market or low trading volume of certain securities. |
| Limit Order | A limit order allows investors to buy and sell securities at a specific limit price or better. Investors often use limit orders to have more control over execution prices. With a limit order, the range of price is specified by the investor, but the order may not be executed at exactly the price specified. It can be executed at a more favorable price than the specified one. |
| Stop Order | A stop order is an order to buy or sell a stock once the price of the stock reaches a specific price, known as the stop price. When the stock hits your stop price, the stop order becomes a market order. The market order is executed at the best price currently available. |
| Stop Limit Order | A stop limit order has both features of a stop order and a limit order. When the stock hits a stop price that you set, it triggers a limit order. Then, the limit order is executed at your limit price or better. |
