Soft-FX Introduces OCO Orders to TickTrader Trading Platform
We are pleased to report that the latest iteration of our trading platform includes support for OCO (One-Cancels-the-Other) orders for margin and spot exchange trading. This is an advanced type of order that will allow your most demanding clients to create complex market strategies.
What are OCO orders?
An OCO order represents two pending orders (for example, one of them is a pending limit, and the other is a pending stop) interconnected by the mutual cancellation function. That is, when one of these orders is executed, the other is automatically deleted by the system. Experienced traders can use OCO orders for risk control and entering the market.
How do OCO orders work?
A good example of OCO order application is risk mitigation with volatile stocks. Suppose an investor has shares trading around $11, but because of high volatility, that stock is expected to trade in a much wider range soon. If this investor doesn't want to lose more than $4 per share, they can place an OCO order, which would consist of a stop-loss sell order to trigger if the price falls to $7, and a limit sell order to trigger if the price rises to $15 per share.
Depending on which event happens first, the corresponding order will trigger and the other order will get canceled.
OCOs are included in the latest version of TickTrader Trading Platform for both Net (margin type) and Cash (spot exchange) accounts, and thus accessible via every terminal: mobile, Web, and desktop. You can learn more about other features of TickTrader here, or contact us directly with any questions you may have.
