In forex trading, precision matters. While market and limit orders are standard, advanced order types—such as OCO (One Cancels the Other), trailing stops, and conditional orders—offer greater control over trade execution and risk management. If you’re looking to level up your trading strategy, it’s essential to know how to find a forex broker that supports advanced order types.

Why Advanced Order Types Matter

Advanced order types allow traders to:

• Automate complex strategies without manual monitoring
• Control risk dynamically with features like trailing stops
• Execute multiple conditions using logic-based orders
• Protect gains and minimise losses in fast-moving markets
• Improve execution efficiency, especially for high-frequency or swing traders

Without them, you’re limited in how effectively you can structure entries and exits.

Key Advanced Order Types to Look For

1. OCO (One Cancels the Other): Combines a stop and a limit order—if one is triggered, the other is cancelled. Useful for breakout or pullback strategies.
2. Trailing Stop: Adjusts automatically as the price moves in your favour, locking in profits while letting trades run.
3. If-Done/If-Then Orders: Sets a conditional order that only activates once a primary order is triggered.
4. Market If Touched (MIT): Executes a market order once a specified price level is reached.
5. stop-Limit Orders: Combines the protection of a stop order with the precision of a limit.
6. Partial Close and Scaling Orders: Allows you to close part of a position or add in stages automatically.
7. Time-in-Force Options: Such as Good ‘Til Cancelled (GTC), Fill or Kill (FOK), and Immediate or Cancel (IOC).

These tools provide more structure and flexibility in volatile or trending markets.

Features to Consider When Evaluating Brokers

1. Platform Functionality

The broker should offer platforms that natively support advanced orders. Look for:

• cTrader, MetaTrader 5, or custom platforms with logic-based order routing
• One-click trading and drag-and-drop stop/limit controls
• Mobile and desktop support for all order types

Check if the order options are intuitive and accessible in live trading.

2. Execution Model and Speed

Advanced order types are most effective with:

• STP/ECN brokers for clean, fast execution
• Low-latency environments with real-time order updates
• Smart order routing systems that minimise slippage

Execution quality ensures your advanced strategies don’t fail under pressure.

3. Order Customisation and Visual Tools

Top brokers allow you to:

• Set pre-defined order templates
• Modify stops and limits on the chart
• Use order ladders or DOM (Depth of Market) views
• Execute multi-leg strategies or hedging through linked orders

This enhances precision and user control.

4. Education and Platform Guidance

Advanced orders require understanding. Choose brokers that provide:

• Video tutorials on order types
• In-platform tooltips and guides
• Webinars on strategy integration using advanced orders

Education ensures you use these tools correctly.

Top Forex Brokers That Support Advanced Order Types

1. Intertrader

• FCA-regulated broker offering advanced order tools on its DMA platform
• OCO, trailing stops, partial close, and scaling supported
• Smart routing and execution logic with institutional-style trading interface

2. AvaTrade

• Supports advanced order types on MetaTrader 5 and AvaTradeGO
• Offers trailing stops, stop-limit, and conditional orders
• Detailed platform tutorials for order configuration

3. TiBiGlobe

• Designed for professionals, offering fully customisable order logic
• FIX API and server-side automation supported
• Ideal for traders building multi-leg or algorithmic strategies

4. Vantage

• Offers cTrader and MT5 with support for OCO, MIT, and trailing stops
• Visual chart-based order entry and modification
• VPS hosting for real-time execution of advanced strategies

5. ThinkMarkets

• ThinkTrader platform supports If-Done, trailing stops, OCO, and multi-order grouping
• Excellent charting tools with drag-and-drop order management
• Available across mobile, desktop, and web

6. IC Markets

• Provides advanced orders through MT5, cTrader, and API access
• Ideal for high-frequency and algorithmic traders
• Strong infrastructure for precision order execution

How to Evaluate Broker Support for Advanced Orders

• Open a demo account and test the availability and execution of advanced orders
• Check platform guides and video tutorials to confirm full feature access
• Ask support staff about specific order types you need
• Monitor order handling speed and accuracy in live simulations
• Review terms and conditions for order restrictions during volatility

Red Flags to Avoid

• No support for trailing stops or OCO
• Platform limitations requiring manual order adjustments
• No VPS or slow execution during high activity
• Lack of transparency around stop execution or slippage

These issues can render advanced orders ineffective and lead to poor trade outcomes.

Conclusion

Finding a broker that supports advanced order types isn’t just about functionality—it’s about enhancing your strategy with more precision, efficiency, and control. By knowing how to find a forex broker that supports advanced order types, you gain the tools to automate trades, manage risk dynamically, and execute sophisticated setups across global markets.

To learn how to build and manage strategies using advanced order tools, enrol in the expert-led courses at Traders MBA.