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Algorithmic (Algo) Orders are smart orders that facilitate the execution of large or illiquid trades over a period of time in smaller blocks. They optimize execution based on pre-selected parameters in order to reduce execution costs and minimize market impact.
Verified Binance users can place Algo Orders on the Algo Orders platform.
Execution Fees charged may vary depending on the algorithmic strategies selected and the fee rate will be displayed prior to submitting an order. For algo orders submitted via the UI or API, fees shall be charged the same way as spot and margin trading fees, at the respective fee rate displayed.
Algo Order Fees are exclusive of regular spot and margin trading fees and all users will continue to be charged spot and margin trading fees at their respective VIP level.
The Algo Orders Fee schedule is as follows:
VIP Level | Additional Fee Rate |
| Regular to VIP 4 |
|
| VIP 5 and above |
|
The minimum size for Algo Orders is 100 USDC or equivalent. The maximum size is up to 10,000,000 USDC or equivalent depending on the symbol. For smaller trade sizes, you may get a live quote on Binance Convert or trade via the Convert OTC API with no minimum size.
To trade via the Convert OTC API, please refer to the documentation here.
Please make sure you have sufficient funds in your Binance account to execute your order. Your order will expire or only be partially filled if your account balance is insufficient to cover the order amount and trading fees (if any) at any time when your order is live.
For example, you submit an order to buy 100 BTC using the BTC/USDC pair when the market price is 20,000 USDC You’ll need to have at least 2,000,000 USDC and trading fees (taking the maximum fee value in the maker-taker fee range as an example) in your Binance account. If the market price increases during order execution and your balance becomes insufficient, your order will expire and may only be partially filled.
Your order will expire if, at any time during order execution, your assets balance is insufficient for the order to continue. Successfully placing an algo order does not lock the assets in your account, therefore transferring assets out of your Spot account while an order is executing may also result in your order expiring due to insufficient balance. Partially-filled orders will be settled based on the amount that has been purchased or sold.
Pausing your order temporarily stops any execution of your order. For TWAP orders, the paused duration will not extend the total duration of the order, and the order will conclude partially filled.
If you cancel an unfilled order, no action will take place. If you cancel an order that is partially filled, the order will be settled based on the amount that has already been executed.
The limit price is a ceiling price for a buy order and a floor price for a sell order.
Your order will resume once the market price moves within your limit price.
Orders are directly settled to the Binance wallet you used to submit the order. Typically, settlement takes place immediately after your trade.
Algo Orders supports all symbol pairs listed on Binance. You can find the list of supported pairs in the selection dropdown before submitting your order.
Yes, trading volume executed via Algo Orders is included as part of the VIP Program’s 30-day spot trading volume calculation.
Trading volume of all trading pairs with zero trading fees, will be excluded from the final trading volume calculation.
Please note that it may take up to 5 days for the trading volume to be reflected in the calculation.
The Time-Weighted Average Price (TWAP) is a time-based algo order strategy that spreads a large trade execution over time in smaller quantities while referencing the time-weighted average price.
For more details, please visit What are Algorithmic Orders? TWAP and POV Strategies Explained.
The minimum duration is 1 minute and the maximum duration is 3 days (72 hours).
TWAP orders have a maximum order execution rate, designed as a protection mechanism to prevent accidental execution of large volumes over a short period.
This rate varies dynamically for each coin. If you encounter the following error message: “Please increase the time allocated for your TWAP order”, you will need to specify a longer duration or reduce the order amount.
Percentage-of-Volume (POV) aims to optimize trade execution alongside market liquidity. It adapts its execution rate to changing market activity at a target percentage of volume participation rate to maintain a desired volume participation percentage.
For more details, please visit What are Algorithmic Orders? TWAP and POV Strategies Explained.
Urgency profile specifies the target percentage of market volume that the Algo Order will try to achieve. The higher the urgency, the shorter the execution time and the higher the market participation. Higher market participation may result in increased market impact for your trade.
When you trade with Binance, you are subject to the Binance Terms of Use and the Binance OTC Terms. You may be subject to localized versions of these terms when onboarding to local Binance entities. You may also be required to accept additional terms and conditions depending on the scope of services offered. Should you have any questions, please contact Binance Support.
You may contact us regarding Binance OTC Trading or Algo Orders at trading@binance.com.
To learn more about Algo Orders on Binance, visit the Spot Algo Orders FAQs page.
