How do I trade with different order types?
Trading with these advanced order types can significantly enhance your trading strategy. Whether you're aiming for quick execution with market orders or precise control with limit orders and advanced conditions, understanding these options helps you trade with confidence and efficiency. Here’s a comprehensive guide to utilizing these order types, whether you’re a beginner or an advanced investor.
| Order types | Benefits of using them |
| Market Order | Provides quick execution and is ideal for highly liquid markets. |
| Limit Order | Offers control over the execution price, making it useful in less volatile markets. |
| TP/SL (Take Profit/Stop Loss) | Allows control over the execution price and is beneficial in volatile markets. |
| Advanced Limit Orders: Post only | Enhances control over fees and execution prices, making it advantageous in volatile markets. |
| Advanced Limit Orders: Fill or kill | Ensures complete execution of orders, which is useful for large orders in volatile markets. |
| Advanced Limit Orders: Immediate or cancel | Guarantees the ability to engage the market at any available size and is effective for quick order execution in volatile markets. |
| Trailing Stop | Protects gains by allowing the trade to remain open when the price moves in favor of the trader. |
| Trigger | Offers control over the execution price and provides automatic protection for profits or limitation of losses. |
| Scaled Order (for Futures trading only) | Maximizes returns by riding market trends and automatically scales orders. |
Market Order
A Market Order is designed for immediate execution at the best available price. This is the fastest way to enter or exit a position but does not guarantee the price at which your order will be filled.
How do I place a Market Order?
Select Market Order from the order types dropdown menu
Enter the amount you wish to buy or sell
Confirm the order
Why should I use Market Order?
Quick execution.
Ideal for highly liquid markets.
Limit Order
A Limit Order allows you to specify the maximum price at which you are willing to buy or the minimum price at which you are willing to sell. The order will only be executed at your specified price or better. We suggest you set a reasonable limit order price to avoid immediate execution.
How do I place a Limit Order?
Select Limit Order from the order types dropdown menu
Enter the price and amount
Confirm the order
When placing a Spot Limit order on the App, tap BBO to auto-fill the price field with the best available order book price.
Note: BBO is unavailable when the margin switch is enabled.
Why should I use Limit Order?
Control over execution price.
Useful in less volatile markets.
TP/SL (Take Profit/Stop Loss)
A TP/SL order automatically places an order when the market price reaches your specified target price, helping you lock in profits or limit losses.
How do I place a TP/SL order?
Select TP/SL and select Conditional or OCO (One-cancel-the-Other)
Set your trigger price for take profit and stop loss
Confirm the order
Why should I use TP/SL order?
Control over execution price.
Useful in volatile markets.
Advanced Limit Orders
There are three types of Advanced Limit Orders:
Post Only
Fill or Kill
Immediate or Cancel
i) Post only
A Post only order ensures that your order is added to the order book and does not execute immediately. It will only be placed as a maker order. If your post-only order matches an existing order, your post-only order will be canceled.
How do I place a Post only order?
Select Advanced Limit Order and select Post only
Set your limit price
Confirm the order
Why should I use Post only order?
More control over the fee and execution price.
Useful in volatile markets.
ii) Fill or kill
A Fill or kill order must be fully filled immediately upon placement, or it is entirely canceled. This ensures the buy/sell order is fully executed or canceled entirely (without partial fills).
How do I place a Fill or kill order?
Select Advanced Limit Order and select Fill or kill
Enter your limit price and quantity
Confirm the order
Why should I use Fill or kill order?
Ensure your orders are fully executed in full.
Useful when executing big orders in volatile markets.
iii) Immediate or cancel
An Immediate or cancel order must be filled immediately, but any portion of the order that cannot be filled is cancelled.
How do I place an Immediate or cancel order?
Select Advanced Limit Order and select Immediate or cancel
Set your price and quantity
Confirm the order
Why should I use Immediate or cancel order?
Ensure your ability to capture the market in any size available.
Useful when executing order quickly in volatile markets.
Trailing Stop
A Trailing Stop order dynamically adjusts with market price movements, trailing the market by a predetermined amount. It activates only when the market reverses by that specified amount, closing the trade if the price shifts direction by a set percentage or dollar value.
How do I place a Trailing Stop order?
Select Trailing Stop from the order types
Set the trailing by Constant or Percentage
Confirm the order
Why should I use Trailing Stop order?
Protect gains by enabling a trade to remain open when the price is moving in the trader's favour.
Trigger
A Trigger order executes a limit or market order once your target price is reached, automating your trades at predefined prices.
How do I place a Trigger order?
Select Trigger Order
Set your target price at last price/ mark price/ or index price
Set the type of order (limit or market)
Confirm the order
Why should I use Trigger order?
Control over execution price.
Automatically protect profits or minimize losses.
When the market price reaches the trigger point, an order is automatically placed at the preset price.
Scaled order (for Futures trading only)
A Scaled order allows you to set a price range and place multiple limit orders within that range. This is particularly useful for futures trading.
How do I place a Scaled order?
Navigate to the futures trading section
Select Scaled order
Define your price range and the number of sub-orders
Confirm the order
Why should I use Scaled order?
Ride the market trend to maximize returns.
Automatically scale orders.
Chase order
A Chase order places a limit order based on the current best bid or ask price. The system automatically updates the chase price every second to track the market's best available price, while maintaining post-only (Maker) status — helping you reduce trading fees and improve execution efficiency.
How do I place a Chase order?
On the trading page, select Chase order from the order types dropdown menu
Set the chase price (best bid or ask price), enter the quantity, and set your maximum chase distance
Confirm the order. Note that a Chase order can't be modified after placement
You can monitor your order on the Open Orders page — it will be labeled with a Chase tag.
Note: the maximum chase distance is the maximum allowable deviation between the chase price and the best bid/ask price. If the deviation exceeds this preset distance, the system will automatically cancel the order.
Why should I use a Chase order?
Automatic price tracking: the system updates your order price every second based on the latest best bid/ask — no manual adjustments needed.
Lower fees: orders are always submitted in post-only (Maker) mode, so you benefit from lower trading fees.
Hands-free execution: no manual intervention is needed — the system handles price tracking and order updates automatically.
Price protection: the maximum chase distance setting ensures your order is automatically canceled if the market moves too far from your target price.
FAQ
Which order type should I use?
Use a Market Order if you want the order to be executed as quickly as possible. The order is filled at the best available prices in the order book, but the final execution price isn't guaranteed.
Use a Limit Order if you want to control the maximum price you will pay or the minimum price you will accept.
Use a Trigger Order or Planned Order if you want an order to be submitted only after a specified condition is met.
Use a TP/SL Order if you want to automatically take profit or limit a loss.
Use Post Only if you want the order to be placed only as a maker order.
Use Fill or Kill (FOK) if the entire order must be filled immediately or canceled.
Use Immediate or Cancel (IOC) if you want any immediately available quantity to be filled and the remainder canceled.
Use a Trailing Stop if you want the trigger level to follow favorable market movements.
Why was my Limit Order filled immediately?
A buy Limit Order specifies the highest price you are willing to pay. It doesn't mean that the order will wait until the market rises to that price. If your buy price is equal to or higher than the current best ask price, the order may immediately match existing sell orders.
A sell Limit Order specifies the lowest price you are willing to accept. If your sell price is equal to or lower than the current best bid price, the order may also be filled immediately.
If you want to buy only after the price rises to a specific level, or sell only after the price falls to a specific level, use a Trigger Order, Planned Order, or the appropriate TP/SL Order instead of submitting a directly marketable Limit Order.
What is the difference between the trigger price, order price, and execution price?
Trigger price: The price that activates a Planned Order, Trigger Order, or TP/SL Order.
Order price: The price submitted to the order book after the trigger condition is met. This may be a preset limit price or a market order.
Execution price: The price at which the order is actually matched with a counterparty.
The trigger price isn't guaranteed to be the final execution price. During rapid market movements, periods of low liquidity, or changes in the order book, the execution price may differ from the trigger price or preset order price. Using the last price, mark price, or index price as the trigger reference may also result in different trigger times.
Why was my TP/SL Order triggered but not filled at the specified price?
The TP/SL trigger price only activates the order. After activation, the order must still be executed according to the selected market or limit order method:
A market order is generally more likely to be filled, but the final execution price may differ from the trigger price because of slippage.
A limit order provides greater price control, but it may not be filled, or may only be partially filled, during rapid market movements or periods of insufficient liquidity.
Before submitting a TP/SL Order, confirm the trigger price, order price, order type, and trigger reference price.
Why can the same Limit Order be charged a maker fee in one case and a taker fee in another?
Trading fees depend on whether the order is executed as a maker or taker, not only on the order type:
A Limit Order that immediately matches an existing order is generally a taker order.
A Limit Order that enters the order book and waits for a later match is a maker order.
A Market Order is generally a taker order.
Planned Orders and TP/SL Orders are classified according to the actual order and matching method used after they are triggered.
The applicable fee depends on your account fee tier and the trading pair. For details, see Trading Fee Rules FAQ.
Why is my Market Order filled at a different price from the price I saw?
A Market Order is filled at the available prices in the order book when the order is submitted. It doesn't guarantee a specific execution price. Large order sizes, low liquidity, or rapid price movements may cause the order to be filled in multiple parts at different prices. This difference is known as slippage.
If price control is more important than immediate execution, consider using a Limit Order. However, a Limit Order may not be completely filled.
What is the difference between FOK and IOC?
Fill or Kill (FOK): The order must be completely filled immediately. Otherwise, the entire order is canceled and no partial fill remains.
Immediate or Cancel (IOC): The immediately available quantity is filled, and any quantity that can't be filled immediately is canceled.
Both order types may fail to execute fully if there is insufficient order book depth. Fees apply only to the portion that is actually filled. No fee is charged for the unfilled portion.
Why was my Post Only Order canceled automatically?
Post Only is designed to ensure that the order enters the order book as a maker order. If the order immediately match an existing order, the system automatically cancels it rather than allowing it to execute as a taker order.
Post Only is suitable when maintaining maker status and controlling maker fees is more important than immediate execution, but it doesn't guarantee that the order will be filled.
Are canceled or unfilled orders charged a fee?
No trading fee is charged for the unfilled portion of an order. A canceled order that hasn't been filled also doesn't incur a trading fee. Trading fees are charged only on the portion that is actually executed.
One order may be filled through multiple executions against different counterparties. The system calculates the fee for each execution and displays the total. This doesn't represent duplicate charging.
What is the difference between a Planned Order, TP/SL Order, and Trigger Order?
These order types all include a condition-based execution process, but their available conditions, entry points, and supported execution methods may differ:
Trigger Order: Submits the selected market or limit order after the trigger price is reached.
Planned Order: Automatically submits a trading order after a preset condition is met, and is commonly used to plan an entry or exit.
TP/SL Order: Is used to take profit or stop a loss, and is commonly associated with an existing position or opening order.
Before submitting an order, check which trigger price types, market or limit execution methods, OCO options, validity periods, and position-related settings are supported on the current trading page.
Are the same order types available for all products and account modes?
Not necessarily. Spot, margin, perpetual futures, expiry futures, and options may support different order types, trigger price types, and operating interfaces. Availability may also vary by region, account mode, product status, and App or web version.
Use the order types and rules currently displayed on the trading page. If an order type isn't displayed, it may not be supported for the selected product or account environment.
What should I check before placing an order?
Confirm the trading pair, direction, quantity, price, trigger price, and order type.
For futures, confirm whether the trigger reference is the last price, mark price, or index price.
A Market Order doesn't guarantee the execution price, and a Limit Order doesn't guarantee execution.
After a conditional order is triggered, it may still fail to execute because of price protection, insufficient balance, a changed position, order validity rules, or insufficient market liquidity.
Order types change how an order is submitted and executed. They don't eliminate market volatility, slippage, or liquidation risk.