An order is an investor’s instructions to a broker or brokerage firm to purchase or sell a security on the investor’s behalf. Orders are typically placed over the phone or online through a trading platform. Orders fall into different available types which allow investors to place restrictions on their orders affecting the price and time at which the order can be executed. These order instructions will affect the investor’s profit or loss on the transaction and, in some cases, whether the order is executed at all.
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