What types of orders are available for US Stocks on Pluang?
Pluang offers five order types for US Stocks: Market Order (instant execution at best available price), Limit Order (execute at your price or better), Stop Order (triggers Market Order at stop price), Stop-Limit Order (triggers Limit Order at stop price), and Stop Loss/Take Profit Exit Strategy (automated OCO exit orders linked to a buy order).
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Overview of Available Order Types
Pluang provides comprehensive trading tools for US Stock transactions, each with different execution methods suited to different investment strategies:
| Order Type | How It Works | Price Guarantee | Execution Guarantee | Available In |
|---|---|---|---|---|
| Market Order | Executes immediately at best available price | No | Yes (during hours) | Regular hours only |
| Limit Order | Executes only at your limit price or better | Yes | No | Regular hours + 24-Hour Market |
| Stop Order | Becomes a Market Order when stop price is reached | No | Likely | Regular hours only |
| Stop-Limit Order | Becomes a Limit Order when stop price is reached | Within range | No | Regular hours only |
| Stop Loss / Take Profit (Exit Strategy) | Auto-triggers sell when price hits SL or TP level | At trigger | OCO mechanism | Regular hours only |
When to Use Each Order Type
Market Order — Use when you want immediate execution and don't need a specific price. Best for liquid stocks during regular hours where spreads are tight.
Limit Order — Use when you have a specific price in mind and are willing to wait for the market to reach it. The only order type available in the 24-Hour Market.
Stop Order — Use when you want to trigger a buy or sell once a certain price breakout occurs, accepting that the exact fill price may differ.
Stop-Limit Order — Use when you want a triggered entry or exit but need to control the maximum/minimum fill price. Risk: may not fill if market moves past your limit.
Stop Loss / Take Profit (Exit Strategy) — Use when you want to automate your downside protection and profit-taking. Both are valid for 30 calendar days and work as OCO pairs.
Order Validity Summary
| Validity | Duration | Fractional OK? | Where Available |
|---|---|---|---|
| DAY | Until next market close | Yes | Regular hours + 24-Hour Market |
| GTC | Up to 30 calendar days | No | Regular hours only |
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Related questions:
Q: Which order type is the safest for a beginner investor?
A Limit Order is generally recommended for investors who want price control — you specify the maximum price you're willing to pay (buy) or minimum you'll accept (sell). This avoids the price uncertainty of Market Orders, especially in volatile conditions.
Q: Is there a minimum order size for US Stocks on Pluang?
Yes. Minimum transaction sizes vary by order type (the dedicated minimum-and-maximum transaction article has the full table). For most Limit Orders, the minimum is $1.00 (by dollar amount, during regular hours) or $10.00 (in the 24-Hour Market). DAY fractional orders allow purchases of as little as $1.00 in dollar terms.
Q: Can I have multiple order types active at the same time for the same stock?
Yes, within the constraints of the OCO mechanism. For example, you can have an open Limit Order and separate Stop Loss/Take Profit orders linked to an existing holding. However, Stop Loss and Take Profit always function as an OCO pair — you cannot have both active independently on the same position.
Q: Where can I find detailed explanations of each order type?
Each order type has its own dedicated article: Market Order, Limit Order, Stop and Stop-Limit Orders, Stop Loss / Take Profit / OCO, and Order Validity and Comparison. ---