coinpass’s Advanced Trading feature supports the following order types for crypto trading:
- Market Orders
- Limit Orders
What is a Market Order?
A Market Order is an order to buy or sell crypto at the current market price. This type of order guarantees that the order will be executed on a best-effort basis, but does not guarantee the execution price. A Market Order generally will execute at or near the current bid (for a sell order) or ask (for a buy order) price. One important thing to remember is that the last traded price is not necessarily the price at which the Market Order will be executed.
In fast-moving and volatile markets, the price at which you execute (or fill) the trade can deviate from the last traded price. The price will remain the same only when the bid/ask price is exactly at the last traded price. Learn more about our Trading Rules & terms and conditions when using coinpass.
Market Orders are popular among individual investors who want to buy or sell crypto without delay. The advantage of using market orders is that you are guaranteed to get the trade filled; in fact, it will be executed as soon as possible.
What is a Limit Order?
A Limit Order is an order to buy or sell a crypto asset at a specific price or better. A Buy Limit Order can only be executed at the limit price or lower, and a sell limit order can only be executed at the limit price or higher.
There are two types of limit orders:
- Buy Limit: an order to purchase crypto at or below a specified price. Limit Orders must be placed on the correct side of the market to ensure they will accomplish the task of improving the price. For a Buy Limit order, this means placing the order at or below the current market bid.
- Sell Limit: an order to sell a security at or above a specified price. To ensure an improved price, the order must be placed at or above the current market ask.
For any technical and account-related concerns, contact us