At what price is a forex order executed?

External question — Personal Finance Stack Exchange Author: Strîmtu Gheorghe Original post: https://money.stackexchange.com/questions/107700 License: CC BY-SA 4.0 — https://creativecommons.org/licenses/by-sa/4.0/ Adaptation: HTML converted to plain text; contact email addresses removed. So I'm new to the fx market and am a little bit confused. Say I place a buy stop order for EUR/NZD at 1.67451. This price (1.67451) is the ask price or the bid price? That is will the order get triggered when the ask or bid price reaches 1.67451? Conversely, if I place a sell stop for EUR/NZD at 1.67451. This price (1.67451) is the ask price or the bid price?

External answer — Personal Finance Stack Exchange Author: Philip Original post: https://money.stackexchange.com/a/107701 License: CC BY-SA 4.0 — https://creativecommons.org/licenses/by-sa/4.0/ Adaptation: HTML converted to plain text; contact email addresses removed. The bid price is what buyers are willing to buy it for. The ask price is what sellers are willing to sell it for. If you are trying to sell something instantly you would have to take the bid price, if you are trying to buy something instantly you would have to take the ask price. If you are placing a buy stop order for EUR/NZD at 1.67451 you are placing an order to buy at this price as soon as it is reached by a willing seller. If buying this would mean as soon as the ask quote hits your order level and there is a willing seller of your pair at that price, if selling it would be when the bid quote hits that line and there is a willing seller for it at that price.

External answer — Personal Finance Stack Exchange Author: DoubleDemander Original post: https://money.stackexchange.com/a/165262 License: CC BY-SA 4.0 — https://creativecommons.org/licenses/by-sa/4.0/ Adaptation: HTML converted to plain text; contact email addresses removed. There is a difference in the meaning of using the two abbreviations EUR/NZD and EURNZD when looking for the execution price of a direction. EURNZD is the used notation in trading programs and describes the New Zealand dollar whereas EUR/NZD is more used in texts and describes the Euro. Since the real price of EURNZD is still near you must have meant EURNZD. When opening a Buy action the first triggering price is the Ask price. The second is the Bid price. With Sell positions it would be executed at the Bid price first, then at the Ask price.