There are typically 3 types of orders in the stock market.

A limit order is an order to transact at a limit price or better. What this means is that a buy order will be done at the limit price or lower, and a sell order will be done at the limit price or higher. Another way to look at it is that you are queuing to transact at that price or better.

A market order, is an order that transacts at the current market price. So for example, if the current bid/ask is $1.01 buy, $1.02 sell and you would like to buy the stock, it would be done at $1.02. In essence, a market order is saying that you want the stock, regardless of the price. In Singapore, a market order is not available. However,  you can simulate a market order by entering a limit order for a price higher than the current price (EG: Limit buy at $1.02 or higher)

A stop order is an order that transacts only when a certain price is reached. In the Singapore context, when that happens, it becomes a limit order at a previously specified price. So for example, if the current bid/ask is $1.01/$1.02 and you enter a stop-limit buy order at $1.03-$1.03, it would not be done immediately like a limit order. Only when a single $1.03 transaction is done, then would your order be entered into the system.

Currently in Singapore, only certain advanced trading platforms offer stop orders. Such as the poems Protrader platform. Most other platforms only offer limit orders. Alternatively, you could call  your broker and by asking him to buy at a certain price, it is somewhat like a stop order.

There are also other orders such as contingency orders, OCO, and many others. However, they are usually only used by the professionals.

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