Difference between Market order, Limit Order and Stop Order

Market Order is an order to buy or sell at current market price. They are used to enter or exit a trade. Market orders should be used with care

Limit Order is an order to buy or sell at a certain limit. They are used to buy currency below the market price or sell currency above the market price

Stop Order is an order to buy above the market or to sell below the market. They are most commonly used as stop loss orders to limit losses if the market moves contrary to what the trader expected