Order types

The following order types are supported by the BP:

• Market: An instruction to instantly buy or sell a certain asset amount at a currently best price on the market. Such orders are not listed in the order book.

• Limit: An instruction to buy or sell a certain asset amount at a specified price. Limit orders are placed in the order book and executed only after the market price reaches the specified limit price (or at a better price).

• Stop market: Such an order is not placed unless the current market price meets a specified stop (or trigger) price, after which the order is placed as a regular market order due to be executed or cancelled, depending on its Time in force.

• Stop limit: The order is similar to the stop market order in the sense that you need to indicate the stop price at which the order must be placed, after which it becomes a regular limit order awaiting execution at a specified limit price.

For stop buy orders, the stop price should be above the best ask price; for stop sell orders, the stop price should be below the best bid price (otherwise, the orders will be activated instantly).

Refer to Time in Force to learn about execution parameters that can be specified for different order types.

Take profit, Stop loss, Trailing stop

When trading on CFD markets, the following triggers can be enabled to manage investments and mitigate risks:

• Take profit: A take-profit order is used to sell or buy an asset automatically once it hits a predefined price, ensuring the trader locks in profits. For example, if a trader buys ETH at $2000 and sets the Take profit at $2100, the platform will sell the ETH automatically when the market price reaches $2100, securing the trader's profit.

• Stop loss: A stop-loss order is a tool to limit potential losses. It automatically sells an asset when its price falls to a predetermined level. For example, if a trader buys ETH at $2000 and sets the Stop loss at $1900, the asset will be sold if the price drops to $1900, capping the loss to $100 per ETH.

• Trailing stop: A trailing-stop order allows a trader to set a Stop price that dynamically adjusts as the market price moves. It's different from a regular stop-loss order because the Stop price isn't stationary but follows the market price by a specified percentage. When the asset price moves favorably, the Stop price updates, securing potential gains. However, if the price falls, the Stop price stays fixed to protect profits or limit losses. For example, a trader buys ETH at $2000 and sets the Trailing stop at $1900 with a 10% adjustment. If ETH rises to $2200, the Trailing stop increases to $2090. A drop to $2090 triggers the sale, locking in gains.

When placing an order with the Place order widget, you can apply a variety of triggers, applicable to all order types: Market, Limit, Stop market, and Stop limit. Multiple triggers can be applied simultaneously.

The triggers can be adjusted anytime before a position is fully closed via the Open positions widget. The Take profit, Stop loss, and Trailing stop always operate the current position volume.

For buy orders, the triggers are activated by the top-of-the-book bid price. For sell orders, the triggers are activated by the top-of-the-book ask price.

Triggers do not activate if a position is in the Stop out state.

However, if the position persists after the Stop out, triggers can then be activated.