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Order types

All order types listed underneath are accepted by ACM and may be placed either online or by phone.

Market Order

A market order is an order to buy or sell at the current market price. Customers using ACM's online trading platform click on the buy or sell button after having specified their deal size. The execution of the order is instantaneous, this means that the price seen at the exact time of the click will be given to the customer. Placing a market order by phone is quite similar but usually takes a few seconds more time. The exact process goes like this:

  1. A customer specifies the currency pair and the deal size to the dealer.
  2. The dealer gives a two-way price (BID and ASK price).
  3. The customer takes one of the two prices (he may ask for a re-quote).
  4. The dealer confirms the trade. Under normal market conditions, ACM dealers usually respond to market orders in about 5 to 10 seconds at most. Assuming the customer deals immediately on the offered prices a phone deal can be made in 10 to 15 seconds on average.
 
 
 
 
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