Order Types:
Market Order: Market orders are executed/fills as quickly as possible after processing on the XPR Network. It is applicable for both buy and sell orders. If there is no liquidity available, the orders will get canceled immediately without pending in the orderbook.
Limit Order: A Limit order is a sell/buy order placed at a higher/lower or better price than the current or specific price. Price needs to be quoted along with assets to buy/sell. This order will be promoted into the orderbook or executed/fills on reaching the limit price(it can be less for buy orders or more for sell orders).
Stop Loss Order: Stop Loss Order is an order that gives an opportunity to the user/trader to choose the maximum amount of loss on the trade. Both Limit and Stop Loss prices have to be selected on the trade. Also, this order is not guaranteed to be executed.
Stoploss orders are used to liquidate assets on reaching a certain price level. To trigger/move/promote this order, the trigger price needs to be reached.
Take Profit Order: Take Profit Order is an order that gives an opportunity to the user/trader to choose the minimum profit on the trade. Both Limit and Take Profit prices have to be selected on the trade. Also, this order is not guaranteed to be executed.
Like Stop Loss Orders, Take Profit Orders are also used to liquidate assets upon reaching a certain price level. The order will be triggered on reaching the trigger price mentioned in the order.
Fill Types:
GTC(Good-Till-Cancel): The order will be in queue until it gets executed/fills completely; the user can cancel at any time.
IOC(Immediate-Or-Cancel): Order will be executed/filled immediately based on the quantity available in the open orders in the orderbook, remaining unfilled orders will be canceled. In case of no matching fills, the entire order will get canceled.
POST_ONLY: It will not be executed/filled immediately even though matching orders are available in the orderbook. This kind of order adds liquidity to the market.
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