A trader's job is to enter the market at some certain moments. This can be done manually or automatically. Of course, you have to know when to use which possibility.
Automatic positions can be opened for options in two ways. You can set a preferable price the asset has to reach for the trade to be open. You can also set the time at which the transaction will start.
When you are trading CFDs on IQ Option, you have yet another possibility. You can use orders at opening.
Trading CFDs
The reason why you can use such an option only with CFDs is that the stocks open and close at some specific hour and cannot be traded all the time without any pause. There is the time of inactivity after which they will be open again.
CFDs for US stocks are traded only through US business hours. Moreover, the market is closed over the weekends. This makes the opening price of the assets impossible to predict. The gap can be utilised to create leverage that is against the market.
Orders at opening
The gap we are talking about creates various possibilities the traders can take advantage of. Bear in mind, however, it is a truly difficult task to evaluate the price at which the market will open in the future or how the price will behave afterwards. So use orders at opening with care.
Anyway, here we are. You have requested an order at opening. You will receive a confirmation of this pending order.
The market is closed at the moment, but you can view all the orders in the total portfolio on the IQ Option platform. There are the orders that are active and the pending ones.
Once the market is opened again, your order will be filled.
Orders at opening are extremely useful if you want to participate in the full price movement. For example, you have heard that Zoom have the potential to grow because people use it during the time of COVID lockdown. You don't want to miss that opportunity and you are able to place an order at opening to buy CFD when the US stock market will open.
IQ Option is constantly developing for you and if you have any questions about orders at opening, please use the comments section below.
Good luck!