There are three kinds of orders. They are Normal, Odd Lot and Iceberg.
- Normal orders are orders that follow the board lot. The Board Lot standardizes the quantity/ number of shares you can purchase depending on the price of the stock.
- Odd Lot are considered to be anything less than the normal/ standard shares.
- Iceberg, also referred to as “Disclosed Quantity Orders,” is a large single order that has been divided into smaller lots for the purpose of hiding the actual order quantity.