There are five types of order available on Binance Futures:
- Limit order
- Market order
- Stop limit order
- Stop market order
- Trailing stop order
Use can choose to enable below settings before placing an order:
- Order confirmation: Order confirmation will be required every time an order is submitted if this function is enabled.
- Position mode: How to Switch between Cross margin mode and Isolated margin mode
- Price protection: How to use Price Protection Function
Limit Order
What is a limit order?
With limit orders, you can place an order at a specific price or better. A buy limit order will be filled if the price matches your limit price or lower and a sell limit order will be filled at your limit price or higher. A limit order is not guaranteed to execute.
Should you interested to learn more about limit order, you may visit Binance Academy for more information.
How to place a limit order?
1. Enter the price and order quantity you want to place.
2. Click “Buy/Long” for long order or “Sell/Short” for short order if you are confirmed to place the order (A confirmation screen will pop out if Order confirmation is enabled).
Market Order
What is a market order?
With market orders, the order will be matched immediately at the best available price.
Should you interested to learn more about market order, you may visit Binance Academy for more information.
How to place a market order?
1. Enter the order quantity you want to place.
2. Click “Buy/Long” for long order or “Sell/Short” for short order if you are confirmed to place the order
Stop-Limit Order
What is a stop-limit order?
A stop-limit order is a conditional trade over a set timeframe with stop price and limit price features. A stop-limit order will be executed at a specified price after a given stop price has been reached. Once the stop price is reached, the stop-limit order becomes a limit order to buy or sell at the limit price or better.
More information: What is a Stop Order ?
How to place a stop-limit order?
1. Enter the stop price, limit price and order quantity you want to place.
2. Click “Buy/Long” for long order or “Sell/Short” for short order if you are confirmed to place the order
Stop-Market Order
What is a stop-market order?
Similarly to a stop-limit order, a stop-market order uses a stop price as a trigger. However, when the stop price is reached, it triggers a market order instead.
More information: What is a Stop Order ?
How to place a stop-market order?
1. Enter the stop price and order quantity you want to place.
2. Click “Buy/Long” for long order or “Sell/Short” for short order if you are confirmed to place the order
Trailing Stop Order
What is a trailing stop order?
A trailing stop order allows traders to place a pre-set order at a specific percentage away from the market price when the market swings. It locks in profit by enabling a trade to remain open and continue to profit as long as the price is moving in the direction favourable to traders. The trailing stop does not move back in the other direction. When the price moves in the opposite direction by a specified percentage, the trailing stop will close/exit the trade at market price.
More information: What is a Trailing Stop Order ?
How to place a trailing stop order?
1. Enter the callback rate, activation price and order quantity you want to place.
2. Click “Buy/Long” for long order or “Sell/Short” for short order if you are confirmed to place the order.
