What Does In Order Mean On Binance

There are two principal types of orders when trading cryptocurrencies: marketplace orders and limit orders. A market order is an didactics to buy or sell an asset immediately (at the market’due south electric current price), while a limit order is an instruction to wait until the price hits a specific or better price before beingness executed. Allow’south meet how they work and how to place them on Binance.

What is a market order?

A market guild is executed at the current market toll as quickly as possible when a user places the gild.

When placing a market order, you tin can select [Corporeality] or [Total] to buy or sell.

For example, [Amount] is recommended when you want to buy or sell BTC with a sure quantity. However, if you wish to purchase BTC with a certain corporeality of funds, such as 10,000 USDT, placing a market society with [Total] is a better option.

In general, you can use both functions to place your purchase and sell orders. All the same, when y’all place the order afterwards the organization calculates the corporeality you can get, the nugget price might take changed significantly, and the lodge would neglect. This often occurs when the purchase/sell ratio is close to or equal to 100%.


Marketplace order instance


The current price is 2,400. If you place a market order, your society volition be filled with
the best available price on the order book
immediately. The boilerplate filled price of your order may non be exactly two,400 (A). Depending on your order’due south management, it could be slightly beneath or higher up 2,400. For buy orders, the average filled price may be slightly in a higher place the current toll, while for sell orders, the average filled cost may be slightly below the current price.

How to place marketplace buy orders?


i. By Total

Suppose you o
wn i,000 USDT and want to place a marketplace order for BTC/USDT. When yous place a “Buy 100%” guild, the arrangement will execute your order at the electric current market place price according to the amount of USDT you have, only it is uncertain how many BTC you can buy. The final BTC transaction corporeality is determined by the market price and quantity when the order is placed. You can check the amount of BTC purchased and the average price from
[


Order History


].


2. By Amount


For case, you own 100,000 USDT, and the price of BTC/USDT is fluctuating around 34,105 USDT. When y’all place a “Buy 100%” order, the organisation volition
lucifer your order with the best available sell order(s) on the market
to decide how many BTC you can buy.

If the system calculates that you can buy 2.932401 BTC with 100,000 USDT and y’all click to place the purchase gild, just at the same time BTC price increases, meaning that 100,000 USDT can no longer buy two.932401 BTC, your order will fail. You tin can identify another social club past manually editing the corporeality of BTC to buy, or using the [Total] office instead.


How to identify market sell orders?


1. By Corporeality

Suppose you own 100 BTC and want to sell 50% with a market lodge. The amount of USDT from selling this 50 BTC will exist determined past the current marketplace price when yous identify the order. You lot can cheque the corporeality of USDT obtained from the lodge and the boilerplate selling price from
[


Order History


].


2. By Total


For example, y’all own 0.06272 BTC, and the price of BTC/USDT is fluctuating around 33,889.26 USDT. When yous place a “Sell 100%” order, the organisation will
match your social club with the best available purchase order(s) on the market
to determine how many USDT you can obtain.

If the arrangement calculates that yous can sell 0.06272BTC for 2,125.534 USDT and you click to place the sell order, but at the same time BTC cost drops, significant that 0.06272 BTC tin can no longer sell for ii,125.534 USDT, your order will fail. You can place another guild by manually editing the corporeality of USDT to get, or use the [Total] function instead.


What is a limit club?

A limit order is an club you identify on the order volume with a specific limit toll. Information technology will just be executed if the market place price reaches your limit cost (or better). You may use limit orders to buy an nugget at a lower toll or sell at a college price than the current market price.

Limit social club examples


Buy order


When the electric current price (A) drops to the order’due south limit cost (C) or below, the guild will exist executed automatically if the buy price is in a higher place or equal to the current price. Therefore,
the buying cost of a limit lodge must exist lower than the electric current price.

For example, the current price is two,400 (A). If yous place a buy limit order with a limit price of 1,500 (C), the order will not exist executed until the price drops to 1,500 (C) or below. If you place a buy limit order with a limit cost of
3,000 (B), which is higher up the electric current price, the order will be filled immediately and the executed price will be around 2,400 simply not iii,000.


Sell order


When the current price (A) reaches the order’s limit toll (B) or above, the order will be executed automatically if the sell cost is below or equal to the current price. Therefore,
the sell price of limit orders must be set higher up the current price.

For example, the electric current price is 2,400 (A) and you place a sell limit order with a limit price of 3,000 (B). The club volition non be executed until the price reaches
3,000 (B) or above.
If you identify a sell limit order with a limit price of
1,500 (C), which is below the current price, the order would be filled immediately at around 2,400 merely not 1,500.

How to place a purchase limit order?

ane. Click
[Trade]

[Spot]
and select the trading pair. Go to the
[Spot]
box and click
[Buy]

[Limit].

ii. Enter the price you lot want to buy. For instance, yous desire to buy BTC at xl,000 USDT.

3. You tin can enter the amount of BTC to buy directly next to
[Corporeality]
.

Alternatively, drag the bar above
[Total]
to customize the per centum of the Spot Wallet rest to use for the order. For instance, y’all own 10,000 USDT and you desire to use 50% of information technology to purchase BTC. Drag the bar to 50% and the organization will automatically calculate the corporeality of BTC you tin get with the limit order.

4. Click
[Buy BTC]
to place the limit buy order. Once the market price reaches your limit price (or improve), your limit club will be executed.


How to place a sell limit order?

1. Click
[Trade]


[Spot]
and select the trading pair. Go to the
[Spot]
box and click
[Sell]


[Limit]
.

2. Enter the toll you want to sell. For instance, you want to sell BTC at 41,000 USDT.

3. You tin can enter the corporeality of BTC to sell directly side by side to
[Amount]
.

Alternatively, elevate the bar in a higher place
[Total]
to customize the percentage of BTC to sell. For case, you ain 1 BTC and yous want to sell 50% of it but. Drag the bar to 50% and the system will automatically calculate the amount of USDT you can get with the limit order.

4. Click
[Sell BTC]
to place the sell limit order. Once the market cost reaches your limit price (or ameliorate), your limit order will be executed.


How to view my order history?

You can view your open up orders under
[Open Orders]. To cancel an order, click on the bin icon next to it.


You can check your filled orders under
[Trade History].


Source: https://www.binance.com/en/support/faq/what-are-market-order-and-limit-order-and-how-to-place-them-12cba755d6334ad98ced0b66ddde66ec

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