At BigONE, we offer many different types of orders to help you trade cryptocurrency derivatives. You can check the order types here, and also check the Fees of your orders.
Market Orders
Market orders will be executed immediately with the current market price. You might use this kind of order when you want to execute it right away. You should pay close attention to your order book when choosing your order type, as a large market order might cause huge costs.
Limit Orders
Limit orders are used to specify the maximum or minimum price you are willing to buy or sell at. You can use this order type to minimize your trading cost, but your order might not be able to be executed when its price is too far from the market price.
Limit Order Example
Quantity = 10 Contracts
Limit Price = 100
Direction = Buy
A bid of 10 contracts will be placed in the market with a Limit Price of 100.
Trigger Orders
Trigger orders are executed with pre-defined Trigger Condition and Trigger Price by a customer. Trigger Conditions include Mark Price, Market Price, and Index Price. Once the price reaches the pre-defined Trigger Price, the system will send your order to the market, be it Market Order or Limit Order.
Trigger Order Example
Trigger Condition = Index Price
Trigger Price = 10,000
Limit vs Market Order = Market
Quantity = 10
Direction = Buy
A market order of 10 contracts will be bought when Index Price reaches 10,000.
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