Definitions for "Discretionary Order"
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.