Market Order
The market order will be filled at the best price available on the order book at that time. Traders do not need to set the price which allows the order to be immediately executed.
Although the market order guarantees the execution of the order, the execution price cannot be guaranteed because the market price may fluctuate rapidly. When traders need to enter or exit a volatile fast-moving price market, market orders are generally used.
Limit Order
The limit order allows the user to set the order price, and the order will be executed at the order price or an executed price better than the order price.
When submitting a limit order, if there are orders in the order book that are better than or equal to the order price to be matched, the order will be filled immediately at the current optimal price.
If there is no offered price better than or equal to the order price in the order book to be matched, the limit order will enter the order book to await execution which in turn will increase the depth of the market.
Conditional Order
The conditional order will only be submitted automatically once specified criteria are met, namely a trigger price.
The trader can select the latest market price or manually set the price as the executed price. When the latest price reaches the trigger price, your order will be executed with the preset price and quantity.
*Conditional order is an advanced order strategy which is more suitable for experienced traders.
Note: Before your conditional order is triggered, there is no margin requirement for your order. This represents that the trader can successfully submit any conditional order. However, the system will automatically reject the order if the margin available in the contract account is insufficient at the time of triggering.
Deepcoin Team
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