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What is the difference between different Order types?
Quick Answer
At SpectroCoin Pro, you can choose between Market and Limit order types. A Limit order is set by you and settled at a desired price, while a Market order goes out for the current market price. An order can be filled with one or more trades.
A trading order is a specific amount of crypto assets offered for buying or selling at a specific price. At SpectroCoin Pro, clients can choose between two order types – Market and Limit – that provide different advantages.
What is a Limit order?
Limit orders allow users to specify the price at which they would like to buy or sell a specific amount of cryptocurrency. The order is executed at the point when the market price reaches the limit set up by the user.
To place a Limit order, follow these steps:
- Select a trading pair on the left-hand side of the trading view screen.
- Click “Orders” → “Limit Order”.
- Enter your preferred buying or selling price.
- Specify the amount of digital assets you are looking to trade.
- Click “Buy” or “Sell”.
Your Limit order has been created!
For a quick tutorial on how to buy Bitcoin with a Limit order at SpectroCoin Pro, please check our video:
What is a Market order?
A market order is the type of order that is executed at the current market price.
To place a Market order, follow these steps:
- Select a trading pair on the left-hand side of the trading view screen.
- Click “Orders” → “Market Order”.
- Specify the amount of digital assets you are looking to trade.
- Click “Buy” or “Sell”.
Your Market order has been created! In most cases, it will be filled instantly.
You can also check a quick video guide on how to buy Bitcoin with a Market order at SpectroCoin Pro: