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An Order is a request to open a position at a specific rate (price). New positions cannot be opened outside the instrument's trading hours, however, you can open future Orders. To open an Order, click on “Advanced” in the position screen (when using the Windows and Web Trader) → check “Buy (or Sell) when rate is” → set the required rate (price) → Click Buy/Sell. The Order will automatically open a position once the requested rate is reached or surpassed - the Order is not guaranteed as the rate (price) can change by more than 1 pip at a time. Real orders will expire in 90 days if a position has not been opened (30 days for demo orders).
For example: Oil's Buy rate is $72 per barrel (CFD). You set an Order to open a position on Oil at the requested Buy rate of: $70. In one movement, the instrument's Buy rate decreases from $72 to $68. Your Order would then be executed at the rate (price) of $68 - as this is the first available rate (price) after your requested rate (price).
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