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Glossary
Stop-if-offered order
Definition
An order used to sell a specified instrument in a falling market. If the price level specified (or lower) is actually offered in the market, the order will be filled at the next available market price.
For example, if you bought USDJPY at 132.00, with a stop offer at 131.50, your position would be closed (USDJPY would be sold) if the offer price hits or falls below 131.50.
Stop-if-offered orders are only recommended for selling forex positions.
The use of stop-if-offered orders to buy forex positions can result in positions being prematurely closed if a market event causes the bid/ask spread to widen for a short duration.
For example, if you bought USDJPY at 132.00, with a stop offer at 131.50, your position would be closed (USDJPY would be sold) if the offer price hits or falls below 131.50.
Stop-if-offered orders are only recommended for selling forex positions.
The use of stop-if-offered orders to buy forex positions can result in positions being prematurely closed if a market event causes the bid/ask spread to widen for a short duration.