Order Types

Currently, we support following order types:

Limit Order 
Market Order 
Stop Order (Stop-Loss Order) 
Stop-Limit Order

A market order is triggered immediately when placed and will be filled at the current market price, not the last sale price. The fill price may be different from the market price you saw when placing the order due to price movement, low liquidity and/or bid/ask spreads of certain stocks.

If you want to have control of the range of your fill price, a market order may not be a suitable choice.

A limit order is triggered at a price specified by you when entering the order, and it will be filled at the limit price or better. If the market price never reaches your limit price, the order will not be filled.

A GTC order is an order to buy or sell a stock that lasts until the order is completed or canceled. Generally, all open GTC orders expire 60 calendar days after they are placed on Tradesk. You can place GTC orders during both regular trading hours and extended hours (from 4:00 am to 8:00 pm EST on business days), and you can modify or cancel your open GTC orders anytime.

In the event of any corporate action (stock split, exchange for shares, or distribution of shares), all open GTC orders for a security would generally be canceled.

For example, if you have a GTC order in on a security that has gone through a corporate action resulting in a new symbol due to a merger, your GTC will be canceled with the old symbol.

Note: Tradesk does not currently support GTC orders but plans to add this order type in the future.

A stop-limit order is triggered at your pre-specified stop price and will be filled at your pre-specified limit price or better.

A stop order is triggered at a pre-specified stop price and will be filled at market price once triggered (it becomes a market order). If the market price never reaches the stop price, the order will not be triggered. The stop price cannot guarantee you with any certain filled price (because it executes as a market order). If you hope to set a bottom line to stop loss, you may consider a stop-limit order.