Best Brokers With Good-Till-Triggered Orders
A Good-Till-Triggered (GTT) order is a limit order that remains effective until either it is triggered when the price conditions are met, or until it is canceled. They allow you to make considered plays or set risk management parameters well in advance.
While many brokers offer this type of order as standard, in some jurisdictions where exchanges clear their order books at the end of each trading day, notably India, you will need to find a broker that offers a GTT feature if you want to use this order type.
Find the best brokers that support GTT orders chosen by our experts after extensive analysis and testing.
List Of Best Brokers With Good-Till-Triggered Orders
These brokers ranked most highly when we evaluated trading platforms with GTT orders:
1. IG
Why We Picked It
IG is one of our top choices in any category because it’s an eminently reliable platform with a comprehensive package of instruments, trading tools and resources, competitive pricing and fantastic customer service.
We especially like that traders can choose between orders that are ‘Good-Till-Day’ or ‘Good-Till-Canceled’, effectively providing a more flexible version of the GTT order.
Most importantly, you can be assured of security when trading your pick of IG’s 17,000+ markets since the brand earned a near-perfect 4.9/5 Trust score, with its credentials bolstered by regulation from multiple ‘green-tier’ watchdogs, 50 years in the business and a listing on the London Stock Exchange (LSE).
Minimum Deposit: $0
Regulators: FCA, ASIC, NFA, CFTC, DFSA, BaFin, MAS, FSCA, FINMA, CONSOB
2. Interactive Brokers
Why We Picked It
Traders who use Interactive Brokers’ powerful Trader Workstation benefit from flexible order types that include Good-Till-Canceled orders – effectively the same as GTT orders – as well as subtypes including one-cancels-the-other (OCO) orders.
This provides the scope to choose the strategy that suits you when trading the almost unparalleled range of instruments on offer, which includes stocks from 150+ global exchanges as well as futures, options, forex, cryptocurrencies, ETFs and more.
Interactive Brokers has also proven itself as one of the most reliable firms out there, having amassed licenses from a long list of international watchdogs since it was established in 1978, including several ‘green-tier’ American, European and Asian watchdogs.
Minimum Deposit: $0
Regulators: FCA, SEC, FINRA, CFTC, CBI, CIRO, SFC, MAS, MNB, FINMA
3. IC Markets
Why We Picked It
IC Markets continues to be one of our experts’ go-to brokers, and a large part of that comes down to the brand’s superior execution, with average speeds of 35ms achieved via top platforms including MetaTrader 4, MetaTrader 5 and TradingView.
Part of IC Markets’ execution policy is that orders remain good ’til triggered or canceled, so traders will have the benefit of this order type as well as advanced options like One-Cancels-All orders available through the trading terminal.
Importantly, IC Markets is known not just for its market-leading pricing, with pips on major FX pairs starting at zero, but also as a reliable brand with a stellar track record that’s regulated in the EU and Australia.
Minimum Deposit: $200
Regulators: ASIC, CySEC, FSA, CMA
4. Pepperstone
Why We Picked It
Pepperstone orders are Good-Till-Canceled by default, so any trader who signs up with this brand will be able to create orders that persist past the end of the trading day.
That’s good news for traders looking for a new broker to implement strategies, because Pepperstone remains one of our leading choices, having won a slew of awards including our crown for Best Overall Broker in 2023.
Pepperstone has also earned its title with an incredible array of features, including four leading platforms with integrated tools, 100+ forex pairs, 1000+ stocks, Raw pricing, and licenses from ‘green-tier’ regulators including the FCA, ASIC and CySEC.
Minimum Deposit: $0
Regulators: FCA, ASIC, CySEC, DFSA, CMA, BaFin, SCB
5. Zerodha
Why We Picked It
Zerodha is India’s largest brokerage firm and is a leading proponent of GTT orders in the country, where this order type is not the norm and provides traders with significant advantages.
Moreover, it’s one of the most trusted brands in the region thanks to regulation by the Securities and Exchange Board of India (SEBI), over a decade in the business, millions of clients, and yearly profits exceeding 100 crore.
Traders can use GTT orders to implement strategies on thousands of Indian stocks available from the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE).
What Is A GTT Order?
While placing a GTT order, you set a price limit at which the order will automatically execute. This allows you to choose a price at which to open a position, or to set stop-loss and take-profit conditions that will last until filled, cancelled, or until a time limit set by the broker expires.
These features are commonly found among many brokers internationally – all orders on Pepperstone, for example, are ‘good till cancelled’, which works functionally in a very similar way to GTT orders.
However, in some locations like India, local exchanges clear their order books at the end of each trading day, making GTT orders a useful feature.
For this reason, you’re likely to find Indian brokers offering GTT orders, while many other brokers around offer similar, persistent orders as standard without using any specific terminology to distinguish them. Lots of these trading firms also accept clients from India.
Why Would I Place A GTT Order?
The GTT order is flexible: it can be used either as a limit order that triggers when your price conditions are met, or in your risk management for an open position as a stop loss / take profit order.
The distinguishing feature of a GTT order is that it will persist past the end of the trading day, allowing traders to plan in advance to enter a market at a specific price point, or to keep their risk management parameters open in interday trades.
For example, the GTT order offered by Zerodha, one of India’s leading brokers offering this order type, is good for a full calendar year, meaning orders could potentially be open for weeks or even months before being filled.
This could allow day traders to branch out into longer-term trades, to plan ahead by opening orders days in advance of anticipated price movements, or to conveniently keep a trade open past market close if it has not performed as expected.
Some brokers that offer GTT orders also support a subcategory of these called “one-cancels-the-other” (OCO) orders.
As the name suggests, an OCO order includes a pair of linked orders with different conditions to trigger each, and when one is executed the other is automatically cancelled.
They can be used for risk management or in strategies such as trading breakouts.
How To Place A GTT Order
To place a GTT order, you’ll need to sign up with a broker that supports this order type. For many, a simple limit order will remain open until it is filled or cancelled, performing the same function as a GTT order. However, in countries like India, you’ll find brokers that specifically offer this order type.
Navigate to your GTT broker’s trading platform. Once there:
- Select the asset you want to trade and click ‘open trade’ or similar
- Select ‘Good Till Triggered’ if this option is available when selecting your order type.
- If relevant, choose between “single” and “one-cancels-the-other” as the subtype of GTT order.
- Select the number of lots, shares etc that you want to trade.
- Choose the trigger price for your GTT order.
- Click ‘confirm’ to create the order.
- The GTT order is now valid until triggered when the asset moves to your desired price, or until you cancel it.
Pros & Cons Of GTT Orders
Pros
- Allows investors to easily plan their trades, days in advance, with orders filled automatically and without requiring the trader’s presence.
- GTT orders let you incorporate stop loss and take profit orders into interday trades.
- Positions can be held open for days or longer without micromanaging risk parameters.
- Setting price parameters in advance helps take the emotion out of trading.
- GTT orders give traders more flexibility to try out longer-term strategies.
Cons
- They can mean missing out on opportunities or falling victim to unexpected price movements if there’s an important event after you set your limits.
- A GTT order will not execute unless the trader’s conditions are met, whereas active traders can assess market movements as they happen and choose dynamic entry and exit points.
- Since GTT orders tend to be for interday trades, they’re not as useful for short-term strategies like day trading.
A Trade In Action
To demonstrate how you might implement a GTT trade, let’s look at a breakout strategy I followed with BTC/USD.
I’ve been watching Bitcoin, a highly volatile instrument, to look for an opportunity to open a position and profit from large price swings. Because I’m interested in an interday trade, I look at the 1-day chart on TradingView.
I missed the recent downswing that brought BTC to around $64,550, but I think it might drop even further toward the 13-week low at around $57,000 if it breaks below support levels.
At the same time, the price has only recently reached an ATH of over $73,700, and this volatile asset could significantly retrace upward if it breaks resistance.
I identify $63,800 as the third-standard-deviation support level, so I set the bottom leg of my OCO order as a sell order at around $63,400 with the view that if it reaches this level it will plunge further.
The upper leg of my OCO order is a buy order that I place at around $67,500, just above the point I identify as the first resistance level. Because this is an OCO order, if the price reaches either one of my limits, the relevant order will trigger and the other order will be canceled.
Importantly, this GTT order will remain in effect until it is either triggered or until I cancel it.
FAQ
Which Is The Best Broker With GTT Orders?
We hand-selected IG as the best broker with GTT orders. We love that you have the flexibility between ‘Good-Till-Day’ or ‘Good-Till-Canceled’ orders, providing a versatile version of the GTT order. It’s also one of the most trusted trading platforms in the industry that some of our own team use for real-money trading.
Importantly, there are many fantastic international brokers that offer persistent orders, and often you won’t need to specify that this is the order type you want. However in India, where exchanges tend to purge orders daily, you will need to find a broker like Zerodha that specifically offers GTT orders to place orders that are valid for more than one day.