Introduction to contract commission types

Hotcoin contracts currently support 5 types of orders:

1. Market Order

2. Limit Order

3. Advanced Limit

4. Scheduled Order

5. Tracking Order

1. Market Order

Market Order means that the order will be matched immediately with the best available price. The execution price of the market order is the limit order price of the order book.

Therefore, slippage may occur, that is, your transaction price may be different from what you expected.

2. Limit Order

Limit Order means that the limit order allows you to place an order at a specific price or better. If the price meets or is lower than your limit price, the limit buy order will be executed;
If the price meets or is higher than your limit price, the limit sell order will be executed. Please note that limit orders are not guaranteed to be executed.

3. Advanced Limit
Advanced Limit Order is a type of limit order, including three effective mechanisms: Maker Only (Pending Order Only), Execute All or Cancel Immediately (FOK), and Execute Immediately and Cancel the Remaining (IOC).

4. Planned Order
Planned order means that traders can pre-set the target price. Only when the price is reached, the limit order or market order will be triggered.

5. Tracking order
Tracking order refers to the strategic order that the trader's order is submitted to the market in the case of a callback. When the latest price (mark price) of the trading market reaches (1± callback range) of the highest (lowest) price set by the trader, the market order will be triggered.

The activation price is one of the triggering conditions for tracking orders. If it is not filled in, the default is the latest price. After the tracking order is issued, when the highest/lowest price of the market reaches or exceeds the activation price, the condition is met.

The callback range is one of the triggering conditions for tracking orders. When the activation price is met, if the rebound ratio of the highest/lowest price of the market is greater than or equal to the set tracking range, the tracking order will be executed.