Working order definition

Working order has a particular significance in relation to IG's platform. Here, we define working order in general investing and explain what it means to you when trading with IG.

A working order is a general term for either a stop or limit order to open. It is used to advise your broker to execute a trade when an asset reaches a specific price.

Working orders are one of several varieties of orders, including market orders that will execute at the best available price that day, or good-‘til-cancelled orders that remain open indefinitely.

Unlike most types of order, though, working orders are not differentiated by their expiry date. Instead, working orders can have any length of expiry attached to them, from the same day to good-‘til-cancelled.

There are two varieties of working order:

  • Stop orders will execute at a level less favourable than the current market price
  • Limit orders will execute at a level more favourable than the current market price

With IG

To complete a working order on our platform, click the ‘order to open’ tab on the deal ticket.

From there, you can select whether your order is a buy or sell, choose the level at which you’d like to trade (our system will deduce whether it is a stop or a limit from this), set an expiry and size, add any closing stops or limits, and submit the trade.

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See all glossary trading terms

Contact us

24 hours a day from 10am Saturday to Friday night at midnight.

010 344 0053

You can also email helpdesk.za@ig.com

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79% of retail investor accounts lose money when trading CFDs with this provider.
You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.