IBKR Order Types with Python Examples
A practical guide to market, limit, stop, and stop-limit orders in IBKR with safe Python examples using ib_insync.
Why order type choice matters
Order type selection directly affects fill quality, slippage, and execution risk.
Start with explicit order parameters and paper-trading validation before using any order logic in live environments.
Core order types
- MarketOrder: prioritizes immediate execution, not price certainty.
- LimitOrder: prioritizes price control, but may not fill.
- StopOrder: activates a market order after trigger price is reached.
- StopLimitOrder: combines trigger behavior with limit-price constraints.
Python example
from ib_insync import IB, Stock, MarketOrder, LimitOrder, StopOrder, StopLimitOrder
ib = IB()
ib.connect("127.0.0.1", 7497, clientId=21)
contract = Stock("AAPL", "SMART", "USD")
market_order = MarketOrder("BUY", 10)
limit_order = LimitOrder("BUY", 10, 185.00)
stop_order = StopOrder("SELL", 10, 175.00)
stop_limit_order = StopLimitOrder("SELL", 10, 174.50, 175.00)
print(market_order, limit_order, stop_order, stop_limit_order)
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