Order Execution Conditions
Post Only (market maker)
When placing a limit order, you can enable the Post Only setting. Your order will not be executed on the market immediately; it will be placed as a maker order on the order book, but not traded with any matching orders. Maker orders provide liquidity to the market. You will only be charged a ‘maker’ fee, not a ‘taker’ fee, when your order is executed.
However, if you want to execute part of the order immediately — for example, you want to buy an asset at a price above the current market price — your order will be automatically canceled by the system.
Time in Force Order
Time in force is an additional parameter that indicates how long your order remains active before it’s executed or expires. This allows you to be more specific about time parameters, and you can customize the time you place an order.
There are 3 basic types of Time in Force:
- GTC (Good-Till-Canceled): the order will remain active until it is completely executed or canceled.
- IOC (Immediate-Or-Cancel): the order will attempt to execute immediately at the set price and available amount, then cancel. Any remaining unfilled part of the order will be canceled. If there’s no available amount on the order book at the set price when you place the order, it will be canceled immediately.
- FOK (Fill-Or-Kill): the order is instructed to execute in full immediately (filled), otherwise it will be canceled (killed).
Position reduction
When trading on margin, enabling Reduce-Only will ensure that new orders you set will only decrease, and never increase your currently open positions.
