CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% 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.
An OCO order, which stands for "One-Cancels-the-Other," involves placing two orders simultaneously: a Stop Order and a Limit Order. These orders are positioned either above or below the current price. As the name suggests, if one of the specified prices is reached, that particular order is executed, while the other order is automatically cancelled.
Here's how to set an 'OCO' order:
- Select the desired instrument and choose the 'OCO' order option.
- Enter the Quantity of CFD units.
- Set a Price and Direction for Order 1.
- Set a Price and Direction for Order 2.
- Confirm your OCO order.