Types of Orders

Basic Order Types

• Market Order: Executes immediately at the current market price.

• Limit Order: Executes at a specified price or better.

• Stop Market Order: Becomes a market order once the asset reaches the chosen stop price. Commonly used to limit losses or secure profits.

• Stop Limit Order: Becomes a limit order once the stop price is hit.

• Scale Order: Places a series of limit orders across a defined price range.

• TWAP (Time-Weighted Average Price): Splits a large order into smaller chunks, executed every 30 seconds to minimize market impact. Each suborder is limited to a maximum slippage of 3%.

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Additional Order Options

• Reduce Only: Ensures the order only reduces an existing position, never increases or flips it.

• Good Til Canceled (GTC): Stays active on the order book until filled or manually canceled.

• Immediate or Cancel (IOC): Executes all or part of the order immediately; cancels any unfilled portion.

• Post Only (ALO): Adds the order to the book without matching immediately which ensures maker-only execution.