Supported Order Types

coinpass Advanced Trading supports the following order types for crypto trading: 

What is a Market Order?

A Market Order is an order to buy or sell crypto at the current market price. This type of order guarantees that the order will be executed on a best-effort basis, but does not guarantee the execution price. A Market Order generally will execute at or near the current bid (for a sell order) or ask (for a buy order) price. One important thing to remember is that the last traded price is not necessarily the price at which the Market Order will be executed.

In fast-moving and volatile markets, the price at which you actually execute (or fill) the trade can deviate from the last traded price. The price will remain the same only when the bid/ask price is exactly at the last traded price. Learn more about our Trading Rules & terms and conditions when using coinpass.

Market Orders are popular among individual investors who want to buy or sell crypto without delay. The advantage of using market orders is that you are guaranteed to get the trade filled; in fact, it will be executed as soon as possible.

What is a Limit Order?

‍A Limit Order is an order to buy or sell a crypto asset at a specific price or better. A Buy Limit Order can only be executed at the limit price or lower, and a sell limit order can only be executed at the limit price or higher.

‍There are four types of limit orders:

‍1. Buy Limit: an order to purchase crypto at or below a specified price. Limit Orders must be placed on the correct side of the market to ensure they will accomplish the task of improving the price. For a Buy Limit order, this means placing the order at or below the current market bid.

2. Sell Limit: an order to sell a security at or above a specified price. To ensure an improved price, the order must be placed at or above the current market ask.

3. Buy Stop: an order to buy a security at a price above the current market bid. A Stop Order to buy becomes active only after a specified price level has been reached (known as the Stop Level). Buy Stop are orders placed above the market and Sell Stop are orders placed below the market (the opposite of buy and sell limit orders, respectively). Once a Stop Level has been reached, the order will be immediately converted into a Market or Limit Order.

4. Sell Stop: an order to sell a security at a price below the current market ask. Like the Buy Stop, a Stop Order to Sell becomes active only after a specified price level has been reached.

For any technical and account-related concerns, please send an email to support@coinpass.com or the help button chat from our website to chat with our live support. We are happy to assist daily from 07:00 AM to 12:00 MN UK time.