CoinEx supports four types of order placements and execution mechanisms to help you trade more efficiently and professionally.
Types of Orders
1. Limit Orders
A limit order is an order to buy or sell at a specified price and quantity. It will only be executed when the market price reaches or exceeds the specified price. However, the execution of a limit order is not guaranteed.
2. Market Orders
A market order is an order to buy or sell immediately at the best market price. The system will execute it instantly based on the specified quantity.
3. Stop Orders
A stop order is an order that is automatically submitted by the system at a preset order price and amount once the market price reaches the predefined trigger price.
(1) Available trigger price types include: Latest Execution Price, Mark Price, and Index Price.
(2) Available order price types include: Limit Order and Market Order.
(3) Execution strategy for stop orders: In futures trading, when a stop market order is triggered, the Auction-Style Liquidation Strategy will be applied to execute the order. The system calculates a target price range based on the optimal price and submits tiered limit orders within this range. Every 2 seconds, the order price is adjusted by increasing or decreasing by [Maintenance Margin Ratio ÷ 10], ensuring that even large liquidation orders can be fully executed within a certain time, even in markets with insufficient liquidity.
(4) Important notes:
- After setting a stop order, your assets will NOT be frozen after you submit the stop order. Please ensure a sufficient account balance when the order is triggered.
- Due to market volatility, insufficient funds, or system problems, your stop orders may not be triggered or executed. Please check Order History for more details.
4. Scaled Orders
A scaled order allows a large order to be split into multiple smaller orders based on predefined conditions, which are then placed separately.
The following order parameters must be set: minimum price, maximum price, number of orders, quantity, and allocation mode.
(1) Allocation Mode
Available allocation modes include Even, Ascending, and Descending.
- Even: Each order is assigned the same order quantity.
- Ascending: Order quantities increase progressively from smaller to larger amounts.
- Descending: Order quantities decrease progressively from larger to smaller amounts.
(2) After a scaled order is split, all generated orders are submitted as limit orders. Orders will be matched and executed only when the market price reaches the specified order price or a better price.
🔗 Explore More: Introduction to Auction-Style Liquidation Strategy >>
Order Execution Mechanisms
1. Always Valid (AL)
The order is always valid until it’s canceled or fully executed in the market.
2. Immediate or Cancel (IOC)
Any unfilled part will be canceled immediately, as soon as the order is submitted. On one hand, if there is no transaction at the time of submission, all will be canceled. On the other hand, if the transaction is partially completed at the time of submission, the unfilled part will be canceled immediately.
3. Fill or Kill (FOK)
If the order cannot be fully executed in the market immediately, it will be canceled immediately.
4. Maker Only (MK)
A Maker Only order will not be immediately executed in the market after submission. Even when the order is filled by any existing orders, it will be canceled to ensure that it remains Maker Only.
How to Choose a Suitable Order Type
| Order Type | Features | Use Cases | Notes |
| Limit Order | Executed at a preset price for cost control |
Buying low (Bottom fishing)
Selling high (Profit-taking) |
Maker orders incur lower fees; Unfilled orders may remain pending |
| Market Order | Executed at the best market price immediately | Urgent buying/selling | May incur slippage during volatile price movements |
| Stop Order | Submitted and executed at the specified price when the trigger price is reached |
Positioning for opportunities (e.g., stop-loss or profit-taking) |
New traders are advised to use the Mark Price as the trigger price for stop-loss/profit-taking. Ensure sufficient balance to avoid failed triggers |
| Scaled Order | Orders are split into multiple sub‑orders based on preset parameters and executed in batches | Large orders may need to be executed in multiple batches | After the order is split, some sub‑orders may be placed at prices better than the current order book and may be filled immediately. Please pay attention to on‑screen notifications |