TradeDirect allows the types of orders that are accepted on the stock markets available, namely: "At Best", "Limit", "Stop" and "Stop-Limit".Definition:
At best: the order will be executed in accordance with the market conditions at the time it is placed.
Stop orders: this type of order is like a trigger - once the security is trading at or past a price that you have specified, the order is immediately executed at the current market price. The stop price must be above the current market price for buy orders and below it for sell orders.
Limit orders: these are orders to buy or sell securities at a certain price or better.
Stop-limit orders: A stop-limit is a combination of a stop and a limit order and particularly useful in fast-moving markets. Once the specified stop price is reached, the order converts into a limit order. The order is executed provided that it can be fulfilled while the price of the security is between the stop price and the limit. For buy orders, the stop price must be above the current market price, and the limit must be above the stop price. For sell orders, the reverse is true.