What is a "Take Profit" order?
A Take Profit order allows users to set a target profit price which will execute as a market or a limit order (depending on the customer’s preference). If set as a market order, the order will execute at the best available price immediately after the target profit price is hit. If set as a limit order, the order will execute at or above the customer’s limit price (no guarantee of being filled) after the target profit price is hit. If customers are worried about a potential bad fill due to an illiquid market, a take profit order with a limit price can be used for protection.