Order Types

Market Order

Executes immediately at the best available price in the order book. The final fill price depends on available liquidity and is not guaranteed — in volatile or thin markets, the executed price may differ from the displayed price. Market orders are always taker trades.

Limit Order

Places an order at a specific price you define. A buy limit order sets the maximum price you'll pay; a sell limit order sets the minimum price you'll accept. The order sits in the order book until the market reaches your price, or remains unfilled if it doesn't.

Stop Limit Order

Combines a trigger price with a limit order. When the market reaches your stop price, a limit order activates at your specified limit price.

Key Terms

Term	Description
Stop Price	The price that triggers the limit order to become active.
Limit Price	The price at which the order executes — or better. For buys, this is the maximum; for sells, the minimum.
Quantity	The number of tokens to buy or sell.

Note: Market orders guarantee execution but not price. Limit orders guarantee price but not execution — if the market never reaches your level, the order stays open or expires unfilled.