You can place different types of orders on the Freedx exchange, depending on your trading strategy and goals. Each order type serves a different purpose, from executing trades instantly to controlling entry and exit prices.
Market Order
- Definition: Executes immediately at the current best available market price.
- Use Case: When you need to buy or sell instantly.
- Example:
- You place a market buy order for 1 BTC at the current asset’s price of $97,000.
- The order executes instantly at the current market price.
Limit Order
- Definition: Sets a specific price at which you want to buy or sell. The order is carried out only if the market reaches your chosen price.
- Use Case: To control the price at which you buy or sell.
- Example:
- You place a limit buy order to purchase 1 BTC at $80,000
- The order remains in the order book until the market price drops to $80,000. If it doesn’t, the order will not be fulfilled.
Order Type | Execution Speed | Control Over Price | Use Case |
Market Order | Immediate execution | No control over price | Quick trades at current market price |
Limit Order | Executes when price matches | Full control over execution price | Trading at specific desired prices |
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