#OrderTypes101 The following main types of orders are used on cryptocurrency exchanges:
Market Order — an order for immediate execution at the best available price. Used for quick buying or selling without a guarantee of a specific price.
Limit Order — an order to buy or sell at a specified price or better. It is executed only when this price is reached, allowing control over the transaction price, but does not guarantee execution.
Stop Order — an order that is activated when a certain price is reached, often used to limit losses or secure profits. Includes stop-limit and stop-market options.
Conditional Order — an order that triggers when certain conditions are met, for example, when the asset price reaches a specified level.
OCO Order (One Cancels the Other) — combines two orders, where activating one automatically cancels the other, allowing simultaneous placement of limit and stop orders.
Pending orders — orders that are executed when a certain price is reached (for example, limit and stop orders).
Additional types:
Fill or Kill (FOK) — the order must be executed in full immediately or canceled;
Immediate or Cancel (IOC) — partial execution is allowed, the rest is canceled;
All or None (AON) — the order is executed only in full.
There are also special types of orders, such as iceberg orders, post-only orders, and multi-limit orders, which are used on some platforms for more flexible trading.
Thus, the choice of order type depends on the trader's goals: speed of execution, price control, risk management, and trading strategy.