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For professional traders we have implemented algo orders (smart orders) which allows to simplify trading process on different markets with variable liquidity. If you trade stocks, futures and other exchange instruments it will be usefull for you to use not only Basic orders but also orders with different Algos. The ability to use these types of orders depends on the market you are trading, as well as the selected broker: FCMs (through CQG) or Interactive Brokers.
Algorithmic orders allow traders to execute large orders on one or many exchanges while minimizing market impact and following a benchmark strategy.