Market Order
Use this type of order when you want to Buy or Sell immediately, regardless of price. Example: Buy 3 May Corn at the Market.

Limit Order
Use this type of order when you want to Buy or Sell at a specific price or better. Buy Limit orders are placed below the current market price, Sell Limit orders are placed above the current market price. Note: Limit orders may not be filled if the market trades at the exact specified Limit price. A trade beyond or better than the specified Limit price will be filled. Example: Buy 2 June Gold at 402.1 Limit.

Stop Order
Typically, Stop orders are used as protective orders. Buy Stop orders must be placed above the current market price, Sell Stop orders must be placed below the current market price. This type of order is triggered when the market reaches the specified Stop price at which point it becomes a Market order. Stop orders can also be used to enter a market as well. Example: Buy 4 March Cocoa at 1632 Stop. Please note: Placing contingent orders, such as “Stop” orders, will not necessarily limit losses to the intended amounts since the market conditions on the exchange where the order is placed may make it impossible to execute such orders. If stop orders are used to enter or exit the market, such orders become market orders when “triggered” and do not ensure that the order will be filled at the price stated on the stop order.

Market On Close (MOC)
This type of order is the same as a Market order with the exception that the order will be executed and filled during the final minutes of trading.

For additional order types, please consult with your futures broker for more details.