A limit order executes your order only at the specified amount and order quantity.
Example: If you placed a sell limit order for BTC at PHP 100,000, your order will only be fulfilled once the system finds an EXACT match for an order buying BTC at PHP 100,000.
For Limit Orders, you will be asked for limit price - preferred price you would want your order to be executed at and time in force which defines the length of time an order will remain active before it is executed or expires.
- Good ‘til Canceled (GTC) - the order will remain active unless you cancel it. This is the default setting for limit orders in the old user interface.
- Immediate-or-Cancel (IOC) - the order may be partially or fully executed immediately based on the market prices or else it would be canceled
- Sample: You placed a sell limit order for 0.5 BTC at PHP 50,000. However, the system was only able to match your order worth 0.15 BTC. For IOC orders, the system will automatically cancel / refund the remainder of your order (0.35 BTC) since it has been partially fulfilled already.
- Fill-or-Kill (FOK) - the order should be filled or fully executed immediately or else it would be canceled.
- Sample: Your current BTC balance is 0.5 BTC and you’re planning on placing a sell limit at PHP 50,000. If you placed a fill-or-kill Order worth 0.4 BTC at PHP 50,000 – your order will immediately be canceled (or killed) by the system if there are not enough buy orders at PHP 50,000 worth 0.4 BTC.
