Types of Order on Binance Futures
Currently, Binance Futures supports 7 types of order:
1. Limit Order
2. Market Order
3. Stop-Limit Order
4. Stop Market order
5. Trailing Stop Order
6. Post Only Order
7. Limit TP/SL Order (Strategy Order)
Users can choose to enable various settings from [Preference] before placing an order:
- Order Confirmation: Once enabled, an order confirmation will be required every time an order is submitted.
- Position mode: You can select [One-way Mode] or [Hedge Mode] for your contracts.
- Price protection: Once enabled, if the difference between the Last price and the Mark price of the contract exceeds the set threshold when the SL/TP orders reach the trigger price, the SL/TP orders will not be triggered. You may visit How to use Price Protection Function to learn more.
What is a Limit Order?
Limit Order allows you to place an order at a specific or a better price. A buy Limit Order will be filled if the price matches or is lower than your limit price, and a sell Limit Order will be filled at or higher than your limit price. Please note that a Limit Order is not guaranteed to execute.
You may visit Academy’s article What Is a Limit Order to learn more.
What is a Market Order?
Market orders are matched immediately at the best available price.
You may visit What Is a Market Order? to learn more.
Stop Limit Order
What is a Stop Limit order?
A Stop Limit order is a conditional order over a set timeframe, executed at a specified price after a given stop price has been reached. Once the stop price is reached, it will buy or sell at the limit price or at a better price than the limit price you set.
You may visit What Is a Stop-Limit Order? to learn more.
Stop Market Order
What is a Stop Market Order?
Similar to a Stop Limit Order, a Stop Market Order uses a stop price to trigger the trade. However, when the stop price is reached, it triggers a market order instead.
You may visit What is a Stop Order? to learn more.
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 favorable to traders. It does not move back in the other direction. When the price moves in the opposite direction by a specified percentage, the Trailing Stop Order will be executed at market price.
You may visit What is a Trailing Stop Order? to learn more.
Post Only Order
What is a Post Only Order?
Post Only Orders are added to the order book when you place the order, but they are not executed immediately.
Limit TP/SL Order (Strategy Order)
What is a Limit TP/SL Order?
You can set a take profit or stop loss price before opening a position. It will follow the "Last Price" or "Mark Price" to trigger your take profit and stop loss orders.
You may visit Limit TP/SL Order (Strategy Order) to learn more.