Order types

For 1001x

In 1001x, the following order types are available:

Market order

A market order is a buy or sell order that is executed immediately at the best available price in the market.

Limit order

A limit order allows you to set a specific price at which you want to buy or sell. The order will only be executed if the market price reaches your specified limit price.

• Limit buy order: Executed when the market price reaches or falls below your specified price.

• Limit sell order: Executed when the market price reaches or rises above your specified price.

Note: There is no guarantee that a limit order will be filled.

Take profit order

A take profit order is a type of limit order that closes an open position at a specified price to secure profits.

Stop loss order

A stop loss order is designed to limit potential losses by closing an open position at a specified price.

Important considerations

• Fees: Both an opening fee and an execution fee are charged when a position is opened. These fees are factored into the leverage amount.

• Order execution: Trade orders may not be executed even if the target price is reached due to the following reasons:

  1. Mark price discrepancy: The mark price, which is an aggregated price from various exchanges, did not reach the target price.

  2. Insufficient time at target price: The target price was reached but did not remain at that level long enough for the order to be executed.

  3. Order size exceeds available open interest (the total size of all open positions in that direction): your order may not be filled if it’s larger than what the market can support.