Limit Orders
A limit order specifies the maximum price a buyer is willing to pay or the minimum price a seller will accept. When set, the market prioritizes execution at prices favorable to the order direction.
Key details:
- Open orders reserve margin, while close orders reserve available position quantity.
- Opponent Price: Real-time best bid/ask (buy orders match with ask prices, sell orders match with bid prices).
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Example: If BTC's current index price is $13,000:
- To buy at $12,900: Order executes when price ≤ $12,900
- Setting a $13,100 buy limit: System executes immediately at $13,000 (more favorable than limit)
Market Orders
Market orders execute immediately at the best available price, ensuring fast trade completion.
Scenarios:
- Partial Execution: Buying 200 BTC contracts at ~$13,000 market price
- Market Close: Instantly liquidating a 200-contract position at ~$10,000
Note: Per-contract quantity limits apply (e.g., BTC-USDT: 1,600 contracts max per order).
Stop-Loss/Take-Profit Orders
Core Features
- Trigger-Based Execution: Automates entry/exit at preset prices
Types:
- One-Way: Single trigger direction
- Two-Way: Simultaneous profit-taking and stop-loss (only one side executes)
Practical Applications
- Stop-Loss Example: BTC long position at $9,000 triggers sell at $8,000
- Take-Profit Example: Same position triggers sell at $10,000 for profits
- Trend Trading: Breakout entries (e.g., buy trigger at $12,000 if price rises)
Important: Funds/positions are frozen until order triggers or cancels.
Trailing Orders
Dynamic stop orders that follow price movements:
Mechanics:
- Callback Rate: Minimum retracement percentage before execution
- Activation Price: Optional price threshold to enable tracking
Use Cases:
- Selling: Triggers when price falls 2% from peak ($40,000 → $39,200)
- Buying: Activates at $30,000, executes on 5% bounce from $20,000 low
Advanced Order Types
| Order Type | Key Feature | Best For |
|---|---|---|
| Iceberg | Large orders split into smaller chunks | Reducing market impact |
| TWAP | Time-weighted average price execution | Minimizing slippage in volatile markets |
| Post-Only | Maker-only execution | Lower fee trading |
| FOK/IOC | Fill-or-kill/Immediate-or-cancel | Precision execution control |
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FAQ Section
Q: What's the difference between stop-loss and trailing stop?
A: Stop-loss uses fixed prices, while trailing stops dynamically adjust with market movements to lock in profits.
Q: Can I combine order types?
A: Yes! Many traders use stop-loss + take-profit together, or iceberg orders with TWAP strategies.
Q: How does OKX protect against slippage?
A: Through price triggers and quantity limits that adapt to market liquidity conditions.
Q: Are these orders available on mobile?
A: All order types are fully supported across OKX's web and mobile platforms.
Q: What happens during extreme volatility?
A: Some orders may not trigger if prices gap beyond specified ranges - always monitor positions.
Q: How are fees calculated?
A: Maker orders typically have lower fees than taker orders. Check OKX's latest fee schedule for specifics.