The order modes that can be selected for Hotcoin spot trading are divided into limit orders, market orders and planned orders.

Limit Order

Limit orders allow users to set an order price, and the order will be filled at the order price or at a price better than the order price. When submitting a limit order, if there is already an order that is better than or equal to the order price and is available for matching, the limit order will be executed immediately at the current best tradable price. If there is no order in the market that is better than or equal to the commission price for matching, the limit order will be placed in the market waiting to be executed, increasing market depth.

The advantage of a limit order is that it can guarantee that the order will be filled at the specified price, but there is also the risk that the order will not be filled.

Market Order

Market orders will be executed at the best available price in the market at that time. There is no need to set the price yourself, allowing orders to be executed quickly. Although a market order guarantees execution of the order, the execution price is not guaranteed because market prices can fluctuate rapidly. When users need to enter the market quickly to capture market trends, market orders are generally used.

Planned Order

A trigger price is set. When the base price selected by the user reaches the trigger price, an order will be placed at the commission price (limit price or market price is supported).