A working order is a catch-all phrase for a stop or limit order to open. Working orders instruct your broker to execute a trade when an underlying asset reaches a predetermined price. This means that your broker knows how you want to trade ahead of time, allowing them to make faster decisions.

Working orders are one of several order types. Working orders, however, are not distinguished by their expiry date, as are most other types of orders. Instead, they can be valid for any length of time, from the same day to good-'til-cancelled.