When trading on KDX, you can place your buy or sell orders using three main order types: Market Orders, Limit Orders, and Stop Orders. Each order type serves a different purpose depending on how quickly you want your trade to be executed and at what price.
Market Order
A Market Order lets you buy or sell a digital asset immediately at the best available price in the market.
- The order is executed right away.
- The final price may vary depending on market conditions.
- Your order may be filled at more than one price if there is not enough volume at a single price.
Because prices can change quickly, Market Orders may experience slippage. This means the final price may be slightly higher or lower than the last traded price.
To protect users, KDX applies a 10% price protection for Ringgit-to-Crypto and Crypto-to-Ringgit Market Orders. If the price moves beyond this limit, any unfilled portion of the order will be automatically cancelled.
Best for: Users who want to trade immediately and are less concerned about the exact price.
Limit Order
A Limit Order allows you to set the exact price at which you want to buy or sell a digital asset.
- Your order will only be filled at your chosen price or a better price.
- If the market does not reach your price, the order will remain open.
- You can cancel the order at any time before it is filled.
Limit Orders stay on the order book until they are fully filled or manually cancelled by you.
Best for: Users who want more control over the price and are willing to wait.
Stop Order (Stop Limit Order)
A Stop Order is used to buy or sell an asset only when the market price reaches a specific trigger price, known as the Stop Price.
On KDX, Stop Orders are placed as Stop Limit Orders. This means once the Stop Price is triggered, a Limit Order is automatically placed.
- The Stop Order itself is not visible on the order book.
- Once triggered, the resulting Limit Order becomes visible.
- The order is not guaranteed to be filled.
Stop Orders are commonly used to limit losses or protect profits.
Best for: Users who want to manage risk automatically without constantly watching the market.
Time in Force Options
When placing Limit or Stop Orders, you may choose how long the order remains active:
- Good Till Cancelled (GTC): The order stays open until it is filled or cancelled.
Choosing the right order type can help you trade more confidently and manage your risks effectively.
Having trouble? Contact us at support@kineticdax.zendesk.com