There are number of types of orders that can be used to enter and exit FOREX trades. The three basis orders are market orders, limit orders and stop orders. A market order is an order where the investors purchases or sells a currency pair at the current market rate. The benefit is that the order will be executed, but the trader runs the risk of receiving a price that is slightly different than the price seen on the screen. A limit order is an order where the investor specifically states the exchange rate where they will buy or sell a currency pair. A stop order is an order where the investor states a price above the current levels for purchases and below current levels for sales, and the order is executive when the price is reached.