Pending Orders on Olymptrade: How they work

The pending trade mechanism is one of the trading tools that lets you delay trades or trade when an asset reaches a certain price. This is your order to buy/sell an option when the parameters you specify are met.

In this article, you will learn how to place a pending order, understand its validity period, cancellation conditions, and execution rules by session, price, or time.

▶️ How to place a Pending Order

To place a pending order, please open any asset on the chart, then view the right side of the screen. The field that contains the trade order controls will display ‘Order’ button.
Click the button to be able to place your pending order. Choose whether the trade is executed by price, time, or the asset's open.
Once your order has been placed, find it in the ‘Trades’ menu on the left of the chart. The order can be canceled before it is executed.

🕒 Pending order validity

A pending order is valid for 1 trading session. The maximum validity of the pending order is 7 days.
You can cancel it at any time prior to its opening without losing the funds planned for this transaction.

⚠️ Cases when Pending Orders are canceled

The set parameters have not been achieved within 7 days. The specified expiration time is longer than there is until the end of the trading session.
There are not enough funds in your account.
If you have reached the maximum number of open trades. This number depends on your account's status. For more information, please click here.

⚙️ Execution rules

💹 If you create a pending order when the asset is closed, the order will be executed at the beginning of the trading session at the opening price.

📈 If you create a pending order for an asset at a specific price, the order will be executed when the price is reached. There may be some slippage as the trade is executed since prices change constantly.

⏳ If you create a pending order for an asset at a specific time, the order will be executed when the time is reached.

Slippage refers to all situations in which an investor receives a different trade execution price than intended. It occurs when the price changes between the time a trade order is requested and the time the order executes.

Ready to place your pending order?

Start trading