What is Order Limit on P2P Trading

2020-09-24 03:11

You can customize the order limit for your P2P ads to limit the minimum and maximum amount of fiat or crypto assets the taker takes in a single order. For example, if you post a USDT/USD P2P buy ad and set 100 USD as the lower limit and 400 USD as the upper limit, this limits the taker to sell within 100 - 400 USD equivalent of USDT to you in each order.

Your ad will be fully filled if someone places a sell order of 400 USD, or places multiple orders between 100 - 400 USD that adds up to 400 USD in total.

Therefore, lower limit < the amount a taker can take for each order < upper limit ≤ total fiat amount of the ad.

For example, the taker cannot take the ad with only 99 USD (lower limit = 100 USD) or 401 USD (upper limit = 400 USD).

What does the “Remaining Ad balance is less than its order minimum limit” error mean?

When you see this error message, it means that the remaining fiat or crypto asset balance of your ad is insufficient to cover the minimum order limit you set. Your ad will be invisible to users until you adjust the order limit. Alternatively, you may close the ad and post a new one.

Let’s use the previous example to illustrate this. The lower and upper limits of your ad are 100 USD and 400 USD. A taker just bought 350 USD equivalent of USDT through your ad, and the remaining asset balance becomes 400 - 350 = 50 USD. As 50 USD is insufficient to meet the lower limit you set for this ad (100 USD), you will see this error message, and your ad will be taken down from the P2P market.

To adjust the order limit, go to the P2P trading homepage on the Binance App and tap [Ads].

Here you can see all your ads. Tap on the dots and choose [Edit Detail] or [Quick Edit] to adjust the lower limit.

To close the ad, tap [Close].

Why is my online/offline ad automatically closed?

To protect the remaining asset in your ads, the system will automatically close your online/offline buy/sell ads with a low remaining balance and return the assets to your Funding Wallet. Your ads will be closed based on the followings:

1. If the system detects that the remaining balance in the ad is lower than the minimum order limit;

2. Your ad has no ongoing appeals or pending orders;

3. Your ad didn’t receive any new orders in the last 14 days. Please note that the system will check your ad’s fiat/crypto balance and order limit weekly and automatically close unqualified ads.