Understanding order types on Binance is key to making smart and efficient trades. Binance offers several types of orders to suit different trading strategies. The most common is the **market order**, which executes immediately at the current market price—ideal for quick trades. A **limit order** lets you set a specific price at which you want to buy or sell, giving you more control but no guarantee of execution. A **stop-limit order** triggers a limit order once a specified stop price is reached, helping manage risk and lock in profits. Binance also offers **OCO (One Cancels the Other)** orders, combining stop-limit and limit orders for more advanced control. Knowing when and how to use these order types helps traders minimize risk and optimize their strategies in volatile crypto markets.
