Spot Trading Rules and Order Types

To help you better understand spot trading rules and manage your assets more effectively, we have prepared a detailed explanation of the basic concepts of spot trading and how different order types work.

I. What is Spot Trading?
Spot trading refers to the act of users buying or selling digital assets at the current market price in real time. In the spot market, all trading prices are entirely determined by market supply and demand. The platform only acts as a neutral technical service provider to offer order matching services and never participates in the pricing of any digital assets.

II. Supported Order Types / Order Methods
To cater to different trading strategies and market expectations, spot trading currently supports the following three main order types:

1. Limit Order

-Description: Place an order at a specific price you set.

- Execution Condition: The order will only be executed when the market price reaches or exceeds your set price.

2. Market Order

- Description: The system will immediately match your order at the best available market price.

- Note: Due to the volatility of the digital asset market, the final execution price of a market order may differ depending on market depth and market conditions.

3. Trigger Order

- Description: An advanced conditional trigger order. Users need to pre-set a "trigger price" and an "order price." The system will automatically submit the order at the set order price only when the market price reaches the trigger price.

III. Important Notes on Trigger Orders and Order Placement

To avoid potential trading losses caused by misunderstanding the rules, please review the following notes before using trigger orders or placing other types of orders.

- Entry Timing: Trigger orders are not placed in the order book when created. They are only submitted to the market after the trigger conditions are met.

- No Guarantee of Execution: After the order is submitted, it still needs to meet the market's current execution conditions.

- Funds freezing: The system will freeze the corresponding funds or margin required to execute the order when you set up your order plan.

- Order Confirmation: Digital asset trading involves risks. Please carefully review the order price and quantity before placing your order.

Risk Warning: Digital asset prices are highly volatile, and you may lose the entire value of your investment. Past performance is not indicative of future results. This content does not constitute investment advice. Please make investment decisions based on your own risk tolerance. Bitbase shall not be liable for any trading losses incurred.

 

Bitbase will continue to improve its products to provide secure and reliable trading services. Thank you for your support of Bitbase.