How does the stop order work?

A Stop order is a trigger, and when it is reached, a corresponding order Market or Limit is generated by the platform.

There are two types of Stop orders:

1. Stop Loss, Buy Stop, Sell Stop. When the asset price reaches the level specified in these order types, the system generates a Market order to buy or sell (Buy Stop, Sell Stop) or close the order to limit losses (Stop Loss).
2. Stop-Limit. An order that combines features of Stop and Limit orders. When the asset price reaches the level specified in this order type, the system generates a Limit order at the price set by a trader when opening it.