Limit Order
A limit order executes trades at a price specified by the user. For limit buy orders, the final execution price must be ≤ the specified price; for limit sell orders, it must be ≥ the specified price. Once a limit order is successfully submitted, any unexecuted orders will enter the order book, and you can view the relevant information in the active orders list. These orders act as market liquidity providers and will receive maker fee rewards upon execution.
Please note that if the limit buy order price is greater than or equal to the current sell price, or if the limit sell order price is less than or equal to the current buy price, the order may execute immediately. Such orders will not enter the order book and are typically charged fees as takers.
Market Order
A market order is executed at the best available price in the current market. Traders can use this type of order to quickly enter or exit positions, especially when there’s an urgent need to increase or decrease exposure. The worst execution price for market orders is always controlled within a certain range; if the execution price exceeds this range, the system will automatically cancel any unexecuted portion.
Since market orders are liquidity takers, they incur taker fees. The advantage of market orders lies in their speed, but traders must monitor market depth and price fluctuations to avoid significant deviations from the expected average execution price.
Stop Order
A stop order is a type of order used for taking profit or stopping losses. When the market price reaches a
specified trigger price, the order is activated and enters the market as either a limit or market order. In futures trading,
the trigger type can be based on the latest price, mark price, or index price. Once the price of the selected trigger
type reaches the designated trigger price, the order is triggered. A stop order does not freeze the required margin at t-
he time of placing the order; only when the order is triggered will the system freeze the corresponding amount based
on the order and position.
Passive Order
If you choose “Passive Order,” the order will not be matched immediately but will enter the order book first, ensuring execution at maker fees to receive rebate fees. If a matching counterparty appears in the order book, the system will automatically cancel this order.
Time in Force (TIF)
The Time in Force option for limit orders can be set to either GTC (Good ’Til Canceled) or IOC (Immediate Or Cancel), with GTC selected by default.
GTC (Good ’Til Canceled): The order remains active until it is completely filled or manually canceled. (Default option)
IOC (Immediate Or Cancel): The order executes all or part immediately, and any unfilled portion is canceled.
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