How to place different types of orders in MEXC Futures

You may choose the various order types in the trading sector of MEXС Futures. This article will give you full understanding of each order type.

How to Place Different Types of Orders in MEXC Futures Trading Terminal
How to Place Different Types of Orders in MEXC Futures Trading Terminal

Limit Order

Users can set a price that they are willing to buy or sell at, and that order is then filled at that price or better. Traders use this order type when the price is prioritized over speed. If the limit order is matched immediately against an order already on the order book. If the limit order is not matched immediately against an order already on the order book, it adds liquidity.

The advantage of the limit order is that it can make sure the delivered price is the assigned price, but the risk of the incompleteness of the limit order should be noted.

Market Order

A market order is an order to be executed immediately at current market prices. Traders use this order type when speed is prioritized over speed. The market order can guarantee the execution of orders but the execution price may fluctuate based on market conditions.

Trigger-Limit Order

Trigger order is set with a trigger price based on the latest market price, fair price, or index price. A Limit Order will be placed when the market reaches the Trigger Price.

Trigger-Market Order

Trigger order is set with a trigger price based on the latest market price, fair price, or index price. A market order will be paced when the market price of a product reaches a trigger stop-order price. This normally is used to stop loss or take profit.

Post-only Order

The order placed on this strategy order will not be immediately filled in the market, ensuring that the user is always a Maker. And if the order is filled with an existing order, then the order will be immediately revoked.

IOC (Immediate Deal or Cancelled Order)

Orders are filled immediately at the order price or better, and the remaining unfilled parts are canceled.

MTL (Market to Limit Order)

Orders are submitted at market orders and executed at the best price in the current market. If the order is only partially executed, the remaining order is canceled and resubmitted with a limit order with the same price as the executed part.

FOK (Fill Or Kill)

If the order cannot be executed in full at the specified price, the remaining portion of the order will be canceled. Partial transactions are not allowed.

FOK (Fill Or Kill) Order Type

Trailing Stop Order

A Trailing Stop Order is an order for tracking market prices and its trigger price may change with latest market fluctuations. Trigger price:

  • A sell Trigger price = maximum market price – user defined callback range (price gap) or maximum market price (1 – user defined callback rate%) 
  • A buy Trigger price = minimum market price + user defined callback range (price gap) or maximum market price (1 + user defined callback rate%) 

Trail orders allow users to define  a pre-set price on Trailing Stop Order and the system will start calculating the trigger price only after the pre-set price is activated.

Closing thoughts

MEXC Futures provide a variety of order modes, designed to provide users with the best quality service. Users can use the most suitable order mode to place orders to maximize revenue.

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Please note that the information and data above are cited from third-party sources & whitepapers and do not represent MEXC. Please refer to direct sources for more details. This is not financial advice and does not constitute an offer or solicitation to offer or recommend any investment product. It is for general purposes only and does not take into account your individual needs, investment objectives, and specific financial circumstances. Investment involves risk.

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