Order Types
Last updated
Last updated
| Order Type | Description |
|---|---|
| Condition | Description |
|---|---|
Market Order
Executes immediately at the prevailing market price.
Limit Order
Executes at the chosen limit price or better.
Activates a Market or Limit order when the specified trigger price is reached. On X10, trigger prices can be linked to Mark, Index, or Last Prices.
Reduce Only
An order designed to decrease an existing position, rather than initiating a new position in the opposite direction. If a user submits a market reduce-only order or has a market TPSL order triggered, but the order doesn't meet the Order Cost or Max Position Value requirement, the market reduce-only order will still be executed. However, all open non-reduce-only limit orders in the same direction will be canceled as a result.
Post Only
An order can only be added to the order book but not executed immediately.
Take Profit / Stop Loss (TPSL)
An order triggered when the market reaches the specified Take Profit or Stop Loss price. X10 supports following types of TPSL orders:
Position TPSL: This applies to the full size of the position. If the TPSL for the full position size is triggered, the entire position is closed. Position TPSL can be added when placing a new order or from the Positions Tab.
Partial Position TPSL: The size of a single partial position TPSL can be anywhere up to the current open position size. Partial Position TPSL can only be added from the Positions Tab.
Order TPSL: This applies to the specific order, with the size of the TPSL order being equal to the size of the original order. Order TPSL can only be added when placing a new order.
There can only be one Position TPSL but multiple Partial Position and Order TPSLs. If a user places a new Position TPSL, the old one is canceled. When a user places a new Order or Partial Position TPSL, it is added to the list of TPSL orders for this position, alongside any other existing TPSLs. The sum of all TPSL orders can be greater than the current position size. TPSL orders are always used as an exit strategy and are set as Reduce-only orders by default. Furthermore, linked Take Profit (TP) and Stop Loss (SL) orders are always configured as OCO (one cancels the other), ensuring that the execution of one will automatically cancel the other.
Time-in-Force Conditions
Good Till Cancel (GTC): An order that remains on the order book or manually canceled by the trader. Immediate or Cancel (IOC): An order that is executed immediately upon placement. Any portion of the order that cannot be filled immediately is canceled.
Fill or Kill (FOK): An order that must be filled entirely at the specified price upon placement. If the order cannot be filled immediately and completely, it is canceled in its entirety.