How to Place Different Types of Orders

You may choose the following order types in the trading section:

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 price is prioritised 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 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.

Stop-Limit Order

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

Assuming the above is the current order book of BTC/USDT trading pair, the sell orders (bids) are in red, and the buy orders(asks) are in green.

  • Limit order: If the user wants to buy 0.1 BTC with a limit order of 60000.00 USDT, the user needs to wait for other sell orders below 60000.00 USDT to be placed in the market.
  • Market order: If the user wants to buy 0.1 BTC at the market order, the user’s transaction price will be the best price in the market, which is 60004.17USDT.
  • Stop-limit Order: If the user wants to sell 0.1 BTC at 66,000 USDT to take profit when the market price reaches 65,000 USDT. Then the user can set the trigger price to 65000USDT and the limit price to 66000USDT. When the latest transaction price of the market reaaches 65000, the limit order of selling 0.1 BTC at 66000USDT will be placed in the market and wait for the transaction.

Summary

MEXC 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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