XT.COM supports a variety of order types to meet traders' trading habits and needs.
Limit order
Limit Order allows traders to set the order price, and the order will be filled at the order price or an executed price better than the order price.
When submitting a limit order, if there are already orders in the order book that are better than or equal to the order price to be matched, the limit order will be filled at the current optimal tradable price immediately. Because the liquidity in the market is consumed when the order is executed, a certain trading Taker fee will be charged.
When submitting a limit order, if there are no orders in the order book that are better than or equal to the order price to be matched, the limit order will enter the order book to await execution which in turn will increase the depth of the market. After the order is completed, the trader will receive a certain amount of Maker fee rebate.
In addition, limit orders can also be used to partially or fully close a position. The advantage of a limit order is that it can guarantee the transaction at the specified price, but it also faces the risk of the order failing to be executed.
Market order
The market order will be executed at the best price available in the order book at the execution time. Traders do not need to set the price which allows the order to be immediately executed. Although 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.
Trigger Limit
Trigger Limit order means users set the trigger price and amount of the order, and when the latest market price reaches the trigger price, the system will automatically place order according to the pre-set price and amount.
Take Profit and Stop Loss
Take Profit and Stop Loss means that the users can preset the trigger price and the order price. When the market price reaches the trigger price, the system will automatically place an order according to the order price and order amount set by the user. One-way stop-profit and stop-loss can be set as one-sided take-profit or stop-loss; both-way stop-profit and stop loss can be set as both sides, and one side will become invalid after the other side is triggered. The order will freeze the account assets in advance.
Other types
Good till cancelled (GTC): The order will remain valid until it is executed or cancelled.
Fill or Kill (FOK): The order must be filled immediately. Otherwise, the order will not be executed at all.
GTX - Good Till Crossing (Maker only): Cancel if unable to become a pending order.
Immediate or Cancel (IOC): If the order cannot be immediately filled (takers), the unfilled contracts will be cancelled.