Characteristics of OCO Orders

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1.   An OCO Order is two simultaneously entered orders at two different foreign exchange prices. If one order is executed, it automatically cancels the other order.

2.   FXDD will automatically spread the OCO order 10 pips around the current Ask price if the order is an OCO to Buy. The prices can be changed by the client.

3.   FXDD will automatically spread the OCO order 10 pips around the current Bid price if the order is an OCO to Sell. The prices can be changed by the client.

4.   OCO orders are usually placed to lock in a profit or protect a position from deteriorating further.