Types of Forex Orders
Less common orders
There are also other order types that are used in Forex that you will likely use. These are not so commonly known however you should learn about them.
GTC (Good till cancelled)
A GTC order is an order you place that remains in the market until you decide to cancel it.
GFD (Good for the day)
A GFD order is an order that remains in the market until the end of the trading day. Foreign exchange is a 24-hour market, and a GFD order usually is good until the US market closes. However if you wish to use a GFD order it is best that you ask your broker what time they reference as the close of the day.
Make sure you check with your broker on what types of orders you can use with the platform.
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