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What kinds of orders does Motif support?

Motif offers these order types:

  • Market. Buy or sell a motif at the current, best market price. A market order guarantees an execution but not a price. The order will execute on the best available price at the time.
  • Limit. Buy or sell a stock at a specified price or better. A limit order guarantees a price but not an execution
  • Stop*. Sell a stock only when the price reaches the stop price you specified. If the stop price is triggered, the order becomes a market order. At that point, the execution is guaranteed but not the price.
  • Stop-Limit*. Sell a stock using the features of a stop order and a limit order. Limit price should be placed at or below the stop price. If stop is triggered then the order becomes a limit order to sell at specified limit price. Execution is not certain and depends on the spread between limit and the stop.

* Supported for sell orders at this time