The customer empowers the broker to act on his behalf with respect to the choice of security to be bought or sold, and/or whether any such transaction shall be one of purchase or sale.
An order which gives the broker the authority to determine when and at what price to execute the transaction.
A type of buy order that gives the broker the freedom and power to make the execution at any time and price that is seen fit and reasonable, given the investor's goals.
a limit order for which you define a discretionary amount (which is added to or subtracted from the limit price) that increases the price range over which the order is eligible to execute
An order that empowers a registered representative or other brokerage firm employee to use his own judgment on the customer's behalf with respect to choice of security, quantity of security, and whether any such transaction should be a purchase or sale. (See Discretionary Accounts; Fractional Discretionary Orders)
An order to buy a particular security, with the broker deciding when to place the trade and at what price.
An order to buy or sell a security for a customer that lets the broker, who has limited power of attorney over the customer's account, decide when to execute the trade and at what price. See: Discretionary Account