The following order types are currently available:
Market – A market order is the most basic order type. With a Market order, you can buy or sell an asset at the market price. Market price is determined as the best available price for the asset at the time the order is placed. This is typically used when the execution of an order is more important than the price of an order. Because of this, entering the price is optional, since it is going to get you the best possible price at the time the order is placed.
As there are many orders being placed on cryptocurrency exchanges, the price paid or received may be quite different from the last price quoted before the order was confirmed.
Market orders are executed immediately so you will likely only see these transactions appear in the Order History tab.
Limit – A limit order is an order to buy or sell a set amount of cryptocurrency or tokens at a specific or better price. A buy limit order can only be executed at the limit price or lower. Likewise, a sell limit order can only be executed at the limit price or higher.
Limit IOC – IOC stands for Immediate Or Cancel. This will ensure you buy or sell at a set price or better, but IOC orders are immediately executed or cancelled by the exchange. Because of this, Limit IOC orders will only appear in the Closed Orders tab.
Unlike FOK orders, IOC orders allow for partial fills.
Limit FOK -FOK stands for Fill Or Kill. This is a limit order with the added condition that the entire order should be filled completely or “killed”, cancelling it immediately. Because of this, Limit FOK orders will only appear in the Closed Orders tab.
These orders do not allow for partial fills.
Stop Market – A stop market order is an order placed to buy or sell a currency when it reaches a certain price, known as the stop price. When the stop price is reached, the order is executed as a market order and buys or sells at the current market price. Because it executes at market price, there is the possibility for slippage – the order may be filled above or below the set stop price.
