A limit order is an order you place on the order book with a specific limit price. It will only be executed if the market price reaches your limit price (or better). You may use limit orders to buy an asset at a lower price or sell at a higher price than the current market price.
Types of Limit Order
Limit Buy Orders
A limit buy order is executed when the market price drops to your specified limit price or below.
The order will only fill if the buy price is less than or equal to the current market price.
Example:
- Current BTC price: 40,000 USDT
- Limit Buy Order: 35,000 USDT
In this case, your order will not execute until the price drops to 35,000 USDT or below. If you set a limit buy order at 45,000 USDT (above the current price), it will fill immediately at around 40,000 USDT, saving you some budget to buy BTC.
Limit Sell Orders
A limit sell order is executed when the market price reaches your specified limit price or above.
The order will only fill if the sell price is greater than or equal to the current market price.
Example:
- Current BTC Price: 40,000 USDT
- Limit Sell Order: 45,000 USDT
In this scenario, your order will not execute until the price reaches 45,000 USDT or higher. If you place a sell limit order at 35,000 USDT (below the current price), it will fill immediately at around 40,000 USDT - not 35,000 USDT, which is filled at a better price to make a higher profit for you compared to selling at 35,000 USDT.
How to place a Limit Order on Spot Trade?
1. On the Spot Trade page, select the Limit Order tab.
|
on the Coins website
|
on the Coins app |
2. Enter the limit price you wish to buy or sell, and enter the amount you wish to trade.
After you put your limit price and amount, the system will check the total transaction amount for you and you can check if your available balance is sufficient or not.
3. Click BUY or SELL to place your limit order.
How to view my limit order history?
On the Coins website
- For open orders, you can view them under the Open Order tab.
- To cancel an order, click the Cancel icon directly.
- For filled orders, you can check them under the Order History tab to view the Executed Price of each trade.
On the Coins app
Both Open Order and Order History are accessible at the upper-right section of the Spot Trade page.
]
Frequently Asked Questions
What's the difference between a limit order and a market order?
A limit order lets you set a specific price for your trade, while a market order executes immediately at the current market price.
What happens if my limit order doesn't get filled?
Your order will remain open until either:
- The market price reaches your limit price and the order executes
- You manually cancel the order
How do I cancel open orders?
To cancel open orders on the Coins app or website:
- Go to the Trade tab (app) or Spot Trade tab (website).
- Click on Order History.
- Select the order you want to cancel.
- Click the Trash can icon (app) or Cancel button (website).
To cancel all open orders, look for the Cancel All Orders option in the upper-right corner of your Order History.
How many open orders can I make?
You can have a maximum of 300 open limit orders and 10 open stop orders per account. This limit applies to each sub-account as well.
To view your open orders:
- On the Website: Go to the Orders tab and click Open Orders.
- On the App: Go to the Trade tab, tap the top-right icon, and select Open Orders.